International Immigration – Cyprus – Kristina Liskavidou

Increasing rent prices and the establishment of new universities impact the migration trends. Meanwhile, rising rental costs affect the attractiveness of Cyprus as a destination, potentially influencing migration decisions. Conversely, the opening of new universities could attract students and academic professionals, leading to migration flows.

Integration of green technologies in Cyprus also influences immigration trends. Cyprus’s commitment to sustainable energy sources attracts individuals interested in eco-friendly living or green technology industries, potentially impacting migration patterns towards the country. These diverse trends collectively shape the landscape of immigration in Cyprus, affecting its demographics, economy and societal dynamics.

Geopolitical changes in the neighbourhood have also played a pivotal role. For instance, conflicts in neighbouring countries profoundly impact Cyprus in ways that might not be immediately evident as events unfold. However, this current period is pivotal and is instigating significant shifts in the region. In particularly, the Israeli-Palestinian conflict does have some implications for Cyprus due to the regional dynamics in the Eastern Mediterranean. Moreover, Cyprus and Israel have developed closer ties in various fields, including energy, security and diplomacy – and both countries share common interests in the Eastern Mediterranean region.

Cyprus Investment Programme: A family-friendly programme

The main applicant may include his or her spouse, minor children, as well as adult children (ages 18–27) who are financially dependent on the applicant within one application, and these will not need to meet any additional financial criteria.

Following the 2016 amendments, the main applicant may also include his or her parents within the application, provided that a further investment of at least €500,000 is made in residential property.

CIP – The most cost-effective citizenship programme

The minimum value of the investment that one will need to carry out to be eligible for Cypriot citizenship is €2 million in residential real estate. While it is true that there are programmes that are less expensive, Cyprus allows investors to reduce the value of such an investment to €500,000 after three years. Essentially, this makes the programme extremely cost-effective in the long run.

In addition, the programme does not require investors to donate to the local government, unlike other programmes. This means that investors will be able to make the most of their investment.

Through the legal practitioners, who have the requisite knowledge and experience stemming from the previous cases they have handled. Therefore, for a smooth transition to your new home abroad, it is wise to employ the services of an experienced global relocation firm. They provide invaluable guidance throughout the process, which helps you focus on settling into your new position more efficiently.

The top three problems faced during relocation are typically: 1) managing logistics of packing and transportation; 2) navigating legal/administrative processes for visas or work permits; 3) adjusting to cultural differences in a new location. Many companies or individuals are looking for stable jurisdictions and reliable ways to minimise risks with the unfolding economic crisis, political reshuffling in many countries, rising business taxes, as well as financial instability. Relocating for work can have tax implications, especially when moving across state lines or internationally.

In business relocations, common challenges include disruption of operations during the transition period, increased costs associated with moving expenses or temporary accommodation for employees, as well as the potential loss of key staff members who may not wish to relocate. To minimise the risks inherent to office relocations, it is essential to have a well-planned strategy that encompasses clear communication channels between management teams.

Non-compliance with corporate immigration laws or immigration for individuals can lead to serious consequences, including legal penalties, reputational damage, disrupted business operations, as well as potential difficulties in recruiting and retaining international talent.

The global food and fertiliser supply chains are already being impacted due to supply shortages and higher prices. An increased focus on developing additional sources of key grains, as well as on better structuring the food supply chain, are of critical importance.

The Russia-Ukraine conflict and other disruptions, such as the COVID-19 pandemic, have fueled an increasing interest in reshoring as an alternative strategy. The underlying notion is that locating suppliers in proximity to assembly and manufacturing sites could alleviate product shortages. As a result, several leading organisations have announced plans to build supply operations closer to the markets they serve.

These strategy shifts in supply chains will significantly impact the transportation infrastructure within the US. Accordingly, this additional demand on domestic supply will create opportunities and threats for differing transportation modes. Accelerating the rate at which infrastructure improvement projects are being pursued, as well as a better management of current transportation resources, is imperative. Meanwhile, identifying alternative supply channels insulated from political and external influences will be a further priority. This can be better achieved by developing strategic alliances with countries in Africa to ensure more reliable sources of key metals, and by entering into joint ventures with Australian companies as a source for key ores.

The interactions that firms establish and maintain within their environment offer several benefits: accessing external knowledge; gaining fast access to technologies or markets; lowering costs; improving the economies of scale in joint R&D and/or production; reducing the uncertainties associated with R&D and innovation processes, which can often be a crucial factor in your firm’s success.

Cyprus amended its Civil Registry Law in late 2023 to introduce new processes and requirements for naturalisation.

The change primarily aims to attract talented and specialised foreign individuals to the island, streamlining the naturalisation process for High-Skilled Employees and their families, as well as introducing a new pathway for naturalisation based on years of residence in Cyprus.

The relaxations introduced relate to the amount of time a foreign national would need to reside in Cyprus prior to applying for naturalisation, as well as their knowledge of the Greek language. Applicants would still need to have a working knowledge of the Greek language; they would also need to be financially self-sufficient, have no criminal record, and be “of good character”.

Family members of such applicants would also qualify for citizenship provided that, among other factors, they legally and continuously resided in Cyprus during the 12 months immediately preceding the filing of the application. Processing of such citizenship applications would take no longer than eight months.

Due to the high restrictions by the Cypriot government from Europe, I believe Cyprus is likely to face disproportionate burdens from Mediterranean migrant routes.