For the citizenship of foreign investors in Cyprus, the following criteria shall apply, alternatively:

A.1 DEPOSITS: The applicant must have deposits in Cyprus of no less than € 3.0 million, which will be allocated as follows:

(a) An amount of €2.0 million to the Development and Investment Fund

(b) An amount of €0.5 million to the Technology and Research Fund

(c ) An amount no less than €0.5 million to the Solidarity and Occupation fund

Provided that the abovementioned deposits must remain deposited for a period of no less than five (5) years. In the event that this condition is breached, the citizenship may be revoked.


A.2 DIRECT INVESTMENTS: The applicant must have direct investments in Cyprus of an amount of no less than €5.0 million. The direct investments may involve, alternatively, the following sectors:

(a) Purchase of real estate (houses, offices, shops, hotels etc. or developments of similar nature that are in an advanced state of completion excluding undeveloped land);

(b) Purchase of businesses or companies;

(c) Purchase of shares of public companies registered in the Republic of Cyprus;

(d) Purchase of financial instruments (bonds/ securities registered and issued in the Republic of Cyprus including those that will be issued from the Solidarity Fund in accordance with the 2013 Law for the creation of the Solidarity Fund);

(e) Participation in a company/joint venture of companies that have undertaken the execution of a Public Sector project


A.3 BUSINESS OPERATIONS: The applicant must be a shareholder in a Company established and operating in Cyprus, provided that the central offices of the company are situated in Cyprus, the Company for the last 5 years prior to the submission of the application, the company has annually deposited no less than the amount of € 500.000 to the State Funds and the Company employees no less than 10 Cypriot citizens. For every such Company it is possible for the application for citizenship to be submitted by maximum two (2) shareholders.


A.4 PERSONS OF WHOM THEIR DEPOSITS IN BANK OF CYPRUS OR LAIKI BANK HAVE BEEN DECREASED DUE TO THE MEASURES THAT HAVE TAKEN EFFECT IN RELATION TO THE TWO BANKS ON THE 15TH OF MARCH 2013: The applicant must have sustained a decrease of deposits in one or both of the above mentioned banks, amounting at least to €3.0 million.


1. Clean Criminal Record. The applicant must have a clean criminal record. It is also required that the applicants name is not included in the list of persons of which their property has been ordered to be retained within the boundaries of the European Union.

2. Residency in Cyprus. In all the cases numbered in Part A, the applicant must be the owner of a residential property in the Republic of Cyprus of a purchase value of at least €500.000 plus VAT.


For the examination of the applications (M127), the submission of various documents is required, such as, the purchase agreement and proof of payment of the purchase value of the property which is referred to in Part A.2 above. Depending on the case, the following be required:

1. Deposits: Proof of deposits in the above mentioned funds must be provided in support of the application.

2. Direct Investments:

(a) For the purchase of real estate: Purchase agreement, Title Deed/ Receipt of the submission of the contract to the Department of Land and Surveys of the Ministry of the Interior, proof of payment of agreed purchase amount;

(b) For the purchase of a business/company: Purchase Agreement, proof of payment of the agreed fee, Certificate from the Registrar of Companies for the shareholders;

(c) For the purchase of shares: Share Certificate;

(d) For the purchase of financial instruments: Deeds/Titles and other related prove of ownership/purchase of financial instruments.

 3. Business Operations:

(a) Certificate of Incorporation issued by the Registrar of companies;

(b) Shareholders Certificate issued by the Registrar of Companies;

(c) Audited Accounts of the company/companies for the last three years preceding the year of submission of the citizenship application;

(d) Confirmation from the Department of Social Insurance for the social insurance contributions of the employees employed in the applicant’s company

 4. Decreased Deposits in Bank of Cyprus and Laiki Bank

Confirmation for the amount and period of the decrease in deposits.