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Ministers’ Proposal for Cypriot passports
Last Update: September, 2016

Filed today in the Cabinet of Ministers a proposal for improving the criteria for naturalization investors. The amount to be reduced to € 2 million for investment plus € 300.000 for the housing market rather than € 5 million plus € 500.000 for a property. The Cabinet of Ministers  included a condition which will be granted for the Cypriot passport to someone who invests € 2 million but who must also identify and propose four other prospective investors who will invest the same amount in order to gain citizenship. Namely, for any amount of € 10 million plus homes will be allocated  to five Cypriot passports. This, as we explained,  is through the land development business, accountants, lawyers and other professionals in the field of services, which will enter a team of applications from interested parties. However, an investor who will testify on his own application for naturalization, without proposing other four candidates for a Cypriot passport, then should proceed with an investment of € 5 million plus housing market, as applied previously. The final configuration of the proposal will be discussed today at the Cabinet by the Ministers of Finance and Interior.

Publish Date: 19 March, 2014
Antonis Karitzis Antonis was born in Nicosia and resides in Limassol. He received his law degree from the University of Manchester in 2002. Antonis started his career with Chrysses Demetriades & Co. LLC In July 2002 where he worked ...

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