Cyprus in the Schengen Zone

30/01/2025

Cyprus is set to reach a significant milestone in 2025 as it prepares to join the Schengen Zone, a development that will bring major benefits for tourism, trade, and investment. As reported by Politico, President Nikos Christodoulides recently confirmed that the country is in the final stages of preparation, marking the completion of a process that has been in motion for years.

This transition will make Cyprus even more attractive to businesses, investors, and travellers by simplifying cross-border movement and strengthening its global connections. But what exactly does Schengen integration mean for Cyprus, and how will it impact key sectors?

What is the Schengen Zone?

The Schengen Zone is a border-free area of 29 European countries where people can travel without internal border checks. It allows EU citizens and visa-holding third-country nationals to move freely, making travel and business operations significantly easier. Additionally, the Schengen Information System (SIS) strengthens security through cooperation between police and judicial authorities.

Key Benefits for Cyprus

Joining the Schengen Zone will unlock several advantages, making travel, business, and investment in Cyprus more seamless than ever.

Stronger Trade and Economic Growth

  • With border restrictions removed, businesses will experience smoother trade operations and fewer delays.
  • Increased cross-border commerce will create opportunities for both local businesses and foreign investors.

Increased Tourism and Business Travel

  • Schengen visa holders will be able to visit Cyprus just as easily as any other Schengen country, making it a more attractive destination.
  • Tourists and business travellers will no longer face additional visa requirements, boosting visitor numbers.

A Positive Impact on Real Estate and Investment

One of the most immediate effects of Schengen integration is the rising interest in Cyprus’s residency by investment program. With Schengen integration on the horizon, securing residency in Cyprus is becoming an even more appealing option for investors looking to benefit from easier access to Europe.

Owning property in Cyprus will open new opportunities, not just in terms of investment growth but also in global mobility. Investors who gain residency will have the added advantage of travelling freely within the Schengen Zone, making it easier to conduct business, attend meetings, or explore opportunities across multiple European countries. For families choosing to relocate, the benefits extend even further, offering greater access to education, healthcare, and an overall improved quality of life.

As more foreign investors look to buy property in Cyprus, real estate prices are expected to rise. This will make property ownership a stronger long-term investment. Additionally, the demand for long-term rentals is set to grow, particularly from professionals and families seeking a base in Cyprus with access to the wider Schengen region. Investors who purchase property now may also see stronger resale potential in the near future, as interest in Cyprus’s market continues to expand.

Investment Migration Expert Yiannos Trisokkas highlights the growing appeal:
‘In practical terms, what Schengen integration means is that permanent residency in Cyprus will be the equivalent of a permanent Schengen visa. That is why we are already witnessing a notable increase in the number of applications for Cyprus’s residency by investment program.’

Beyond Schengen: Cyprus and the US Visa Waiver Program

Alongside its Schengen integration, Cyprus is also nearing inclusion in the US Visa Waiver Program. Once approved, Cypriot residents and citizens will be able to travel to the United States without the need for a visa, making trips for business, education, and tourism much more convenient. This change will remove the need for lengthy visa applications, simplifying the process for those looking to explore opportunities in the US. It is expected to encourage more business collaboration, academic exchanges, and tourism between the two countries, strengthening economic and diplomatic ties.

By joining the Schengen Zone and improving global mobility, Cyprus is becoming more connected than ever. This milestone not only benefits travellers and investors but also strengthens Cyprus’s role in the European and international landscape.As Cyprus moves closer to full Schengen integration, we will continue to provide updates on its progress and what it means for investors, residents, and businesses. Contact us at info@velment.com  for more information.