Rich migrants are welcome in Cyprus
Cyprus is considering easing residency permit requirements for foreign nationals under a proposed bill. The proposal would grant residency permits to third-country nationals who invest €250,000 in housing and have an annual income of €40,000. The bill also includes provisions for additional family members. The proposal is currently being debated in the House Internal Affairs Committee. Some stakeholders suggest lowering the housing investment threshold to €150,000 to facilitate purchases of existing homes, while others argue that this could drive up housing demand and prices, negatively impacting local buyers. The regulations aim to attract foreign investment while ensuring financial stability for those obtaining residency, covering various categories of foreigners.