As of September 2016, the Cyprus Government has revised the criteria for granting Cypriot Citizenship by Exception, creating a unique opportunity to Investors obtain the Cyprus (EU) Passport by investing in immovable property in Cyprus.
Schemes for obtaining Cyprus Citizenship
- Investing in Real Estate, Land Development and Infrastructure Projects
The Applicant must purchase a property worth at least €2 million (plus VAT) or invest the equivalent sum in the construction of land development projects (residential or commercial, or developments in the tourism industry), or other infrastructure projects.
Investing in construction projects which are under development is permitted, provided that an investment plan for the development of the acquired land is included with the application.
- Investing in Financial Assets of Cyprus Companies or Cyprus Organizations
The Applicant must invest at least €2 million in companies or organizations established and operating in the Republic of Cyprus. These funds can only be utilized towards investments made exclusively in Cyprus based on a specific investment plan, i.e. for the construction and/or development of a specific real estate construction project.
- The Applicant must own a permanent residence in the Republic of Cyprus, with the purchase price paid for the property being €500,000 plus VAT or more.
- The Applicant must have a clean criminal record.
- The Applicant must hold a valid residence permit in Cyprus (or submit an application at the same time as the application of Naturalization as a Cyprus citizen).