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In 2016, the Cyprus Council of Ministers approved the amendments to the Scheme for Naturalizations of Investors in Cyprus by Exception. Said scheme is based on subsection (2) in section 111A of the Civil Registry Laws of 2002-2015. Any non-Cypriot citizen may apply for Cypriot citizenship through Naturalization by Exception if the applicant makes an investment of at least €2,000,000 for the purchase of real estate or invests in any Cypriot companies and business. Citizenship is granted to the whole family, their spouse and all financially dependent children under 28 years old.
Investing €2 million (plus VAT) in residential property in Cyprus.
When the investment includes any commercial units, then the total investment should be €2.5 million (plus VAT) in Cyprus [the required residential property must be valued at a minimum of €500,000 (plus VAT)].
The main investment may be sold after a period of three (3) years, however, the investor must always maintain a residential property in Cyprus, with the value of €500,000 or greater (plus VAT).
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