REDUCED TO € 2 MILLION the Cyprus Citizenship ( EU Passport ) Programme
The Council of Ministers announced a new scheme for granting a Cypriot Passport (EU) / Citizenship to non-EU citizens.
SCHEME FOR NATURALISATION OF INVESTORS IN CYPRUS BY EXCEPTION on the basis of subsection (2) of section 111A of the Civil Registry Laws of 2002-2013
As per the decision of the Council of Ministers dated 24th May 2013, a non-Cypriot can apply for the acquisition of Cyprus Citizenship by Investment, if he/she, under provisions, proceed with a direct investment on the Republic of Cyprus.
Among the criteria and the provisions, the applicant is eligible to apply for citizenship after direct investments through the purchase of properties (houses, offices, shops, hotels or a development of a similar nature, excluding underdeveloped land) in Cyprus with a minimum value of €5 million.
Revised criteria for granting Cyprus Citizenship by Investment:
On the 28th of March 2014, the Cyprus Government through the Ministry of Interior announced changes to the criteria for granting the Cypriot citizenship by exception to foreign investors, in an effort to further promote foreign investment in Cyprus.
In this respect, the government has at its discretion the right to relax certain criteria regarding investment.
Application of these changes to specific cases will be as follows:
- The applicant will be required to invest a reduced amount of €2.5 million, on the basis that they are a participant in a collective investment scheme worth at least €12.5 million.
The Applicant must have a clean criminal record.
For more information on how to obtain the Cyprus Citizenship by Investment please contact us.