Scheme for naturalisation of investors in Cyprus by exception
A foreign citizen may by exception apply for the acquisition of Cypriot citizenship, if meets one of the following principles:
I. Mixed investments and a contribution to a state fund:
The candidate must have made the following investments and donation:
a) an amount of at least €2,0 million for the acquisition of shares and/or bonds of the Investment company of the state under formation and Provided that the applicant may deposit the said amount with the Treasury of Cyprus until the shares and/or bonds of the said company are issued.
b) an amount of at least €0,5 million as a contribuiton to the Research and Technology Fund
II. Direct Investments:
The candidate must have direct investments in the country of at least €5,0 million. Direct Investments may alternatively involve the following:
a) the purchase of properties (houses, offices, shops, hotels etc or a development of a similar nature, excluding underdeveloped land),
b) the purchase of businesses or companies that are based and are active in the Republic of Cyprus
c) the purchase of companies registered in the Republic of Cyprus
d) the purchase of financial assets (e.g. bonds / securities / debentures registered and issued in the Republic of Cyprus.)
e) participation in a company/ consortium of companies that has undertaken to carry out a public project
The candidate shall retain the said assets in his possession for a period of at least three years. In the case of a share or bond portfolio, it is to be ensured that the amount of the value of the portfolio for the said period will not fall below the amount specified.
III. Deposits in banks in Cyprus:
The applicant must have personal fixed term deposits for three years in Cypriot banks or deposits of privately owned companies or trusts (in which he/she is the beneficiary owner) in the Republic of Cyprus of at least €5,0 million
IV. A Combination of Mixed Investments and a Donation to a State Fund (I.), Direct Investments (II) and Deposits in Cypriot Banks (III):
V. Business Activities:
The applicant must be a shareholder or beneficiary owner of a company (or companies) the management of which is in the Republic of Cyprus and that over the last 3 years prior to submitting the application has paid to State Funds (corporate tax, V.A.T. or other fees and charges etc) and remuneration for the purchase of business services (legal, accounting, auditing) as amount of at least €500.000 per annum.