Revised criteria for granting Cypriot citizenship by exception for large collective investments

The Cyprus Government through the Ministry of Interior, has today announced changes to the criteria for granting the Cypriot citizenship by exception to foreign investors, in an effort to further promote foreign investment in Cyprus.
In this respect, the Cabinet has at its discretion the right to relax certain criteria regarding investment in government bonds, financial assets in Cypriot enterprises or organizations, real estate, development and infrastructure projects and in relation to the purchase, establishment or participation in Cypriot businesses and companies.
Application of these changes to specific cases will be as follows:

  1. The applicant will be required to invest a reduced amount of €2.5 million in any of the above investments, on the basis that they are a participant in a collective investment scheme worth at least €12.5 million.
  2. The applicant will be required to invest a reduced amount of €2.0 million in any of the above investments, on the basis that they are a participant in a collective investment scheme worth in excess of €12.5 million. This provision (b) will apply until 1.6.2014.

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