President Nikos Christodoulides announced that Cyprus will complete all technical requirements to join the visa-free Schengen Area of Europe by the end of 2025. This announcement was made at the Beyond Sea and Sun tourism conference in Nicosia on January 12.

On January 1, 2025, Romania and Bulgaria officially joined the Schengen Area after the EU lifted internal land border controls. In March 2024, air and sea border controls between these countries and other Schengen members were also lifted.

Christodoulides shared that the government has made significant progress. He revealed that his government has “addressed all political concerns related to the ceasefire line and is now finalizing the necessary technical details for joining.” This process will be led by a task force at the Cypriot Ministry of Foreign Affairs.

The division of the island poses particular challenges for Schengen entry. The Green Line buffer zone will become the EU’s external border, requiring enhanced passport controls at crossing points. EU officials have indicated that Schengen membership requires adjustments to the Green Line Regulation to manage movement across the island.

According to Charles Savva, Managing Director of Savva & Associates, the lack of a common land border with other EU countries is a reason for Cyprus’s slow accession to Schengen. He noted, “Cyprus and Ireland remain the last two EU members to join Schengen, and this is not surprising because we do not share a common land border with the EU.”

The Schengen Area allows more than 450 million EU and EEA citizens and legal residents to move freely. Currently, the area includes 25 EU member states plus Iceland, Norway, Switzerland, and Liechtenstein.

Residency Opportunities in Cyprus for Investors

If Cyprus joins Schengen in 2025, it will be advantageous for investors who already hold or are on the way to acquiring Cypriot permanent residency through investment:

Types of Investment:

– Purchase of residential or commercial real estate in Cyprus

– Business investment in Cyprus and employing at least five workers

– Investment in licensed capital management funds in Cyprus

Conditions for Obtaining Cypriot Permanent Residency

– Invest at least EUR 300,000 in one or more properties in Cyprus

– Show proof of at least EUR 50,000 in income outside Cyprus

– Reside for at least one day every two years to maintain permanent residency

Benefits of Obtaining Cypriot Permanent Residency

– Obtain permanent residency within 2-3 months

– Permanent residency rights for three generations

– Permanent ownership of real estate

– Numerous tax incentives

– Freedom to live, study, and do business

– Education system follows UK standards and European healthcare standards

– Easy and quick visa application to other European countries

– Citizenship opportunity after 5 years

Currently, Cyprus is in final negotiations for the U.S. Visa Waiver Program. An American delegation will soon visit to discuss the implementation of this program.

If Christodoulides’s plan succeeds and Cyprus becomes a Schengen member, Ireland will remain the only EU country outside the Schengen Area.

Conclusion

Cyprus’s accession to Schengen is a significant step forward, bringing many benefits and new opportunities for Cypriot citizens and those interested in residing there. Free movement, enhanced passport value, attracting foreign investment, and increased economic cooperation are just a few of the outstanding benefits. Despite facing challenges, Cyprus’s future in the Schengen Area promises considerable development and prosperity. You might consider settling in Cyprus to take advantage of these benefits and open up new opportunities for you and your family.

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