OBTAINING CYPRUS RESIDENCE 

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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:

Direct Investments:

The applicant should have direct investments in Cyprus of more than CYP£15mil. (around 25 million EURO) (i.e. real estate, factories etc)

OR

Entrepreneurial Activities:

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

OR

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.

OR

Bank Deposits:

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.

OR

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.