April 15, 2013 The Ministry of Internal Affairs of Cyprus has decided to grant the Cypriot citizenship under special conditions.
1. At least 3 million euros Investment in Cyprus distributed as follows:
a) 2 million - real estate and construction;
b) 0,5 million - technology, research and development activities;
c) 0,5 million - Solidarity and Employment Fund.
Investment period must not be less than five years. If the investment will be withdrawn before the end of the period, then the received citizenship can be may be revoked.
2. Investment in Cyprus for an amount not less than 5 million euros. These investments can be distributed among the following types of investments:
a) property purchase (any type of real estate that are under construction, with the exception of land unliable to building);
b) business and companies purchase;
c) purchase of shares of companies registered in Cyprus;
g) purchase of any kind of securities issued by the Cyprus Republic, including the Solidarity Fund, under the National Solidarity Fund law of 2013;
d) participation in a company or consortium of companies carrying out government contracts.
3. Ownership of shares of a company registered and leading activities in Cyprus, with its headquarters in Cyprus. A necessary condition is that during the last 5 years the company transferred not less than 500 thousands euros to Cyprus state funds annually, and there must be at least 10 citizens of Cyprus among the company’s employees. In this case, two shareholder of that company can be given the citizenship.
4. The right to apply for the Cypriot citizenship can be given to those persons who have had a deposit account at Bank of Cyprus and the Cyprus Popular Bank (Laiki) and who have lost at least 3 million of the funds deposited in one or both banks in the course of the European Group decisions taken in March 2013.