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Introduction of a “special cases” category for granting Cypriot citizenship.
On Friday 28th of March 2014 the Council of Ministers announced a change to the criteria by which Cypriot citizenship may be granted to foreign investors.
The change is temporary and will be applicable till the 06th of June 2014. No excuse was given why the change will be in force for such a limited period of time.
In essence two new categories are inserted into the current investment policy (which is available here) that concern collective investment schemes.
Thus foreign investors can apply for naturalization provided that they:
Participate in collective investment schemes with a participation of €2.5 m where the total investment is at least €12.5 m
Participate in collective investment schemes with a participation of €2 m where the total investment is more than €12.5 m
As noted above these two new possibilities are available till the 6th of June 2014.