Often referred to as the leading EU Golden Passport Programme, the Cyprus CBI programme is one of the worlds’ leading investment citizenship programmes, and with good reason: In addition to giving applicants access to one of the world’s most powerful travel documents and EU citizenship rights, Cyprus is also considered a highly attractive property investment destination by discerning real estate investors worldwide.
The CCBI scheme is widely credited as having helped the country recover from the last financial crisis.
As of the beginning of 2019, the ability to obtain Cypriot citizenship through naturalisation by exception is a closing window of opportunity. Brussels is coming under pressure to curb EU nations’ ability to issue citizenship to third country nationals with to curb potential money laundering risks and programme abuses, thus appeasing concerns from EU nations who do not offer citizenship by investment or investment residency programmes.
The rise of nationalistic forces within Europe looks set to increase the pressure on countries offering such programmes, and it looks likely that countries offering CIP programmes will be forced to introduce volume caps, higher investment thresholds and more onerous application requirements in the near future.