OBTAINING CYPRUS RESIDENCE
Criteria and Conditions of Citizenship by Exemption
Criteria and conditions for providing citizenship by exemption to foreign investors/entrepreneurs according to Annex 2(f) of the Third Table of the Population Records Laws 2002-2003 (Proposal no.879/2007) .
The Council for the reasons mentioned in the Proposal, decided to approve the following criteria and conditions for the provision of citizenship by exemption to foreign investors/entrepreneurs according to the Annex 2(f) of the Third Table of the Population Record Laws 2002-2004:
The applicant should have direct investments in Cyprus of more than CYP£15mil. (around 25 million EURO) (i.e. real estate, factories etc)
The applicant should have established in Cyprus a company/ companies with a total annual turnover over CYP£50mil (around 85 million EURO). in the year preceding the application year
Introduction of new and innovative technologies, research centres:
The applicant should prove that by his activities he has introduced to large extent new and innovative technologies in major sectors of the Cyprus economy or has created a significant research centre on a large scale for locally conducted research.
The applicant should have personal deposits in Cyprus banks or deposits of privately owned companies (controlled by him) in Cyprus of over CYP£10mil (around 17 million EURO) with a five year duration period.
Combination of the Direct Investments, Entrepreneurial Activities and Bank Deposits:
The applicant should have CYP£15million (around 25 million EURO) through a combination of the above.