New conditions for Cyprus Citizenship

New conditions for obtaining Cyprus citizenship are being discussed by the cabinet of ministers.

Obtaining a Cypriot passport and citizenship will now be easier as the criteria will be changed to include lower amounts of investment.  Specifically, an investment of  €5 million and a purchase of a residence of at least €300.000 will now suffice, as long as the other conditions are met by the applicant.

Furthermore, groups of investors who collectively invest €12.5 million will also be eligible.  The group can consist of two to five investors and the amount will be split between them.  Again, the other conditions must be met by the applicant(s).

This scheme is  attractive to foreign investors wishing to invest in Cyprus and at the same time obtain Cyprus citizenship and also a Cypriot passport which allows for visa free travel to all EU countries.

 

 

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