On the 13th of September 2016, the Cabinet proceeded with the
amendment of the provisions for the granting of Cypriot
Citizenship. The amendments were enacted in order to encourage
investments in Cyprus by foreign investors and consequently to
assist the economy.
The most important provisions that were amended include the
following:
- The threshold for minimum investment
has been reduced to €2.5 million of combined investments;
- A €2 million investment is
acceptable provided that an additional €500,000 is invested in
real estate which must be the investor's private
residence;
- The applicant's parents are now
entitled to apply for a Cyprus citizenship based on the investment
as long as they also invest an additional €500,000 in a
permanent residential property in their name;
