CYPRUS CITIZENSHIP SCHEME FOR FOREIGN INVESTORS
A non-Cypriot citizen, who meets one of the following economic criteria (A), either personally or through a company/ companies in which he/ she participates as a shareholder - proportionally based on the percentage of participation, or even as a high-ranking senior manager of a company/ companies that meets one of economic criteria (A), may apply for the acquisition of the Cypriot citizenship through Naturalization by exception.
A high-ranking senior manager may apply, provided that he/she receives such a remuneration that generates for the Republic tax revenue of at least €100,000 for a three year period and provided that this tax has already been paid or prepaid.
The applicant should have concluded the necessary investments during the three years preceding the date of the application and must retain the said investments for a period of at least three years since the date of the Naturalization.
In addition, the applicant must fulfill the Terms and Conditions set out in Part B.
In the case where, following a periodic inspection, it has been ascertained that any condition is being circumvented, the Naturalization may be revoked.
A1. Investment in government bonds:
A2. Investment in financial assets of Cypriot companies or Cypriot organizations:
A3. Investment in real estate, land development and infrastructure projects:
A4. Purchase or creation or participation in Cypriot businesses or companies:
A5. Deposits in Cypriot banks:
A6. Combination of the aforementioned criteria
A7. Persons whose deposits with the Popular Bank Public Company Ltd have been impaired due to the measures implemented after the 15th March 2013:
A8. Major Collective Investments:
i. To €2,5 millions for investors, who demonstrably participate in a special collective investment scheme, provided that the total value of the investment is at least €12,5 millions.
ii. To €2,0 millions for investors who demonstrably participate in a special collective investment scheme, provided that the total value of the investment is more than €12.5 millions. It is noted that this present provision (I), will be in force until the 1st of June 2014. In addition, it is noted that for the above mentioned provisions (i) and (ii), the investment for the Criteria A.1 until A.4 may be realized through a different salesman/ provider (physical or legal entity).
B. TERMS AND CONDITIONS
1. Clean Criminal Record: the applicant must have a clean criminal record. Furthermore, his name must not be included on the list of persons whose property is ordered to be frozen within the boundaries of the European Union.
2. Residence in the Republic of Cyprus: In all cases listed in Part A, the applicant must hold a permanent privately-owned residence in the Republic of Cyprus, the purchase price of which must be at least €500.000, plus V.A.T.
It is noted that members of the same family, which apply separately as investors, can collectively acquire a residence, provided that the total value of this home-property covers the amount of € 500.000 per each applicant.