The Cyprus government has implemented various incentives so as to encourage foreign investment into the country. One of the most popular is the Citizenship Through Investment Program whereby an applicant can acquire Cypriot citizenship and receive a Cyprus (EU) passport through naturalisation if they make a €2 million investment in real estate and meet certain other criteria.
In addition, there is also the possibility that should the principal applicant require to include their parents in the application, an additional €500,000 plus VAT should be invested in the purchase of a private residence in Cyprus.
The application for Cypriot citizenship through Naturalisation by Exception may be made by a non-Cypriot national provided they meet one of the below investment criteria:
- An investment of at least €2 million in order to purchase real estate or land development/construction.
- An investment of at least €2 million in the purchase or establishment of a business or company based and operating in Cyprus, which can demonstrate its presence in the country and which employs at least 5 Cypriot citizens.
- Other investments as follows:
- The purchase of units from Alternative Investment Funds (AIFs) amounting to at least €2 million.
- Investment in the financial assets of a Cypriot business or enterprise of at least €2 million in the form of bonds, securities and debt securities.
- Investment in CYSEC regulated Cypriot business entities of at least €2 million in the form of bonds, securities and debt securities.
The main investment may be sold after a period of three (3) years, however, the investor must always maintain / purchase a property with a value of at least €500,000.