The citizenship by investment program has been revised on the 13th of September by the Council of Ministers and is now even more attractive than before. A key change to the program is the reduction of the minimum required investment from 2,5 Million Euros to 2 Million Euros. Further, the program now offers the option of investing on alternative investment funds. Certain criteria that existed under the old scheme have now been abolished. The key points of the program are:
1. Minimum required investment is 2 Million Euros for all options below.
2. Options for investments are:
a) Investment on real estate developments and infrastructure.
b) Buying or setting up or participating in Cypriot companies and businesses.
c) Investing on Cypriot Alternative Investment Funds or investing on the financial assets of Cypriot companies licensed by CySEC.
d) Combination of the above ways of investment. This option can also include buying government bonds for a price of a maximum of 500.000 Euros.
TERMS AND CONDITIONS
- Clean criminal record.
- The applicant must own a permanent residence in Cyprus that he/she bought for a minimum of 500.000 Euros + VAT.
- Before naturalization the applicant must hold residence permit in Cyprus for a minimum of 6 months.
- Investment should be maintained for a minimum of 3 years.
Under the new criteria not only the children and spouse of the investor can obtain the citizenship but also his/her parents. That is provided they buy a residential property in Cyprus for a minimum of 500.000 Euros.