Nicosia:The Deputy Minister of Migration, Nicholas Ioannides, announced that Cyprus intends to tighten its 'golden visa' program in preparation for joining the Schengen Area. This was stated during a meeting with the Parliamentary Committee on Control of Public Expenditure, which was reviewing a report by the Audit Office on migration management.
According to Cyprus News Agency, approximately 1,500 'golden visas' have been issued over the past two years. A comprehensive review is in progress for around 12,000 passports issued since 2013 to ensure compliance with current criteria. Ioannides highlighted the increased attractiveness of Cyprus due to its anticipated Schengen accession and has proposed relevant changes to other ministers.
Investments linked to the 'golden visa' program are under consideration to potentially include sectors such as education, defense, and innovation. Ioannides emphasized the need for controlled investment and announced the development of an information system to monitor third-country nationals from their entry to exit.
Progress is also being made in digitizing migration services, allowing online renewal of residence permits and electronic tracking of applications. Ioannides noted a significant reduction in pending asylum applications, from about 24,000 to fewer than 12,500. He reported that over 6,100 Syrian applications have been withdrawn or revoked since December 2024, with more than 5,500 individuals having returned to their country. In the first eight months of 2026, returns have exceeded 7,000.
The approval rate for asylum applications is currently between 15% and 20%, with many individuals in Cyprus holding subsidiary protection status. Ioannides mentioned a notable decrease in welfare benefits, attributed to reduced migration flows, with the cost dropping from £49 million to £15 million since he took office.
European funds cover a significant portion of migration management costs, with 100% funding for the 'Pournara' reception center and 85% for the 'Limnes' facility. Returns are supported at a funding rate of 80%-85%.
Regarding legal migration, Ioannides stated the need for workers in construction, hotels, and nursing. He also mentioned bilateral agreements with Egypt and India to attract targeted workers, with currently around 200,000 valid residence permits for third-country nationals.
The number of unaccompanied minors has decreased from around 1,100 to 130, and age assessments are underway. There are no plans to establish new facilities for these minors.