Attracting foreign direct investment is at the heart of Cyprus’ development strategy, as it represents a key driver for economic growth.
On the basis of the Cyprus Investment Programme, a non-Cypriot citizen, who meets the economic criteria of the Programme, may apply for the acquisition of the Cypriot citizenship.
The applicant should have made the necessary investments during the three years preceding the date of the application and must retain the said investments for a period of at least three years as from the date of the naturalization. In the case where, following a periodic inspection, it has been established that a criterion, term or condition of the Programme has been breached, the granted naturalization may be revoked.
The following non-Cypriot natural persons who meet one of the set economic criteria, are eligible to apply for the acquisition of Cypriot citizenship:
- natural persons, either personally or through a company in which they are participating as shareholders, in proportion to their holding percentage
- through investments made by their spouse or jointly with the spouse
- as high-ranking senior manager of a company that meets one of the financial criteria below (provided that they receive a remuneration that generates paid tax revenues of at least €100.000 over three years)
Eligible persons who meet one of the following financial criteria may apply for the acquisition of the Cypriot Citizenship:
- Investment in real estate, land development and infrastructure projects of at least €2m
- Investment in financial assets of Cypriot companies or organisations of at least €2m
- Investment in Alternative Investment Funds or financial assets of Cypriot companies/ organisations that are licenced by the Cyprus Securities and Exchange Commission of at least €2m
- Combination of the above criteria, which can also include investment in government bonds of up to €500.000
Spouse/ partner: The investor’s spouse or partner may acquire the Cypriot Citizenship. Their application may be filed simultaneously
- Minor children: Dependent children up to the age of 18 may apply, after the investor acquires the Cypriot Citizenship and provided that the other parent consents
to the grant of the citizenship
- Adult financially dependent children: the right to apply for citizenship is also granted to the financially dependent adult children of the investor belonging to one of the following two categories: students up to the age of 28 children with severe physical/ mental disability that prohibits employment
- Parents: The investor’s parents may also apply for citizenship after the investor has acquired his/ her citizenship, provided that they are owners of a private residence of at least €500.000 (+VAT). The investor and his/ her parents may collectively acquire one residential property of a total value of at least €1m (+VAT)