Citizenship by Investment is Turning Limassol into the High-Rise Capital of the Mediterranean

Cyprus’ Limassol is on the verge of boasting one of the most imposing skylines in Europe, and the tallest by far in the Mediterranean, on the back of financing from the country’s citizenship and residence by investment programs.

Non-EU nationals can qualify for Cypriot citizenship through a real estate investment of €2 million, while a €300,000 investment will suffice to obtain a residence permit, or a Golden Visa as it is also known. Since its beginning in 2013, the citizenship program alone had raised an estimated €4 billion by April this year, the vast majority of which took the form of luxury residential properties.