The Cyprus Council of Ministers on 13 September 2016 approved new criteria for obtaining Cypriot citizenship by investment. Applications are examined within three months. Once the application is approved, the applicant will be able to take all actions for the acquisition of the Citizenship and the issue of a Cypriot passport. The procedure for the acquisition of the Cypriot citizenship will be completed, provided that the applicant holds a residence permit for a period of at least six months. If the applicant does not hold a residence permit, then both applications can be made simultaneously.

Eligible persons

A non-Cypriot natural person who meets one of the set financial criteria described below, is eligible to apply for the acquisition of Cypriot Citizenship.

  1. Investment made personally by the investor or through a company of which the investor is participating as a shareholder or as ultimate beneficial owner;
  2. Investment made individually or jointly with the spouse;
  3. Investment as a high-ranking senior manager of a company provided that they receive a remuneration that generates paid tax revenues of at least €100.000 over three years, the company that employs the manager must have concluded in Cyprus an investment that meets one of the financial criteria of the scheme and the high-ranking senior manager needs to hold in Cyprus a permanent privately-owned residence of at least €500.000 purchase value.

Financial criteria

  1. In all the below mentioned criteria the applicant must possess a permanent privately owned residence in Cyprus of at least €500.000 (+VAT). 
  2. If the investment is made wholly for a private residence, then the total amount of the investment is €2,5 million (+VAT)

Properties, developments and infrastructure projects

Investment of at least €2 million for:

  1. Purchase or construction of properties;
  2. Development of a residential or commercial or tourist or any other infrastructure;
  3. Investment in building land provided that there is an investment plan for developing the building land.

Acquisition or creation or participation in Cypriot businesses and companies

Investment of at least €2 million for:

  1. Acquisition, creation or participation in Cypriot businesses or companies which are established and are active in the Republic;
  2. Exclusively invested funds in Cyprus based on specific investment plans;
  3. Employment of at least five Cypriot citizens or citizens of the European Union with legal and continued stay in Cyprus for the last five years before the application for citizenship.

Investing in Alternative Investment Funds or financial assets in Cyprus businesses or Cyprus organizations licensed by the Cyprus Securities and Exchange Commission 

Investment of at least €2 million for:

  1. Purchase units of Alternative Investment Funds that are incorporated in the Republic of Cyprus, are licensed and moderated from the Cyprus Securities and Exchange Commission and of which the investments are made exclusively in the Republic of Cyprus, in investments meeting the criteria of the current plan or in the areas authorized by the Minister of Finance;
  2. Maintain the investment for a period of at least three years, with a written notice to the Ministry of Interior and Finance, from the managers of the Alternative Investment Funds on an annual basis.
  3. Purchase of financial assets in Cyprus companies such as bonds, bills and securities.

Combination of investments with investment in treasury bills

Investment of at least €2 million for:

Purchase of treasury bills at a cost of up to €500.000 in combination with one of the previous three criteria and possession of such government bonds for a period of at least three years.