Case Study: Cyprus – Typographos & Co Lawyers

SUBSECTION (2) OF SECTION 111A OF THE CIVIL REGISTRY LAWS
(2002) of the Republic of Cyprus provides that the Council of Ministers may, under any conditions it determines to be appropriate, allow the Naturalization by exception of foreign investors. By virtue of its most recent decision dated 19 March 2014, the Council of Ministers has revised its conditions and criteria for granting Cyprus Citizenship by Exception to those that wish to invest in Cyprus. The procedure under Cyprus’ Citizenship by Investment Program (CCIP) is simple, fast and straightforward. Established to attract new investment in Cyprus, most cases can be processed within three months.
It is the only program in the European Union that requires no compulsory residence of any duration and is based
on an investment rather than a donation. Citizenship shall be granted to following an investment of at least €2.5 million in any one of a number of investment options. Further to the investment the investor is required at all times to have a residential property in Cyprus of no less than €500,000 and have a clear criminal record.

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