A non-Cypriot citizen may by exception apply for the acquisition of Cypriot citizenship, if he/ she meets one of the following criteria:
A.1 Mixed investments and a donation to a state fund:
The applicant must have made the following investments and donation:
(a) an amount of at least €2,0 million for the purchase of shares and/or bonds of the Investment company of the state under formation and
Provided that the applicant may deposit the said amount with the Treasury of the state until the shares and/or bonds of the said company are issued.
(b) an amount of at least €0,5 million as a donation to the Research and Technology Fund
A.2 Direct Investments:
The applicant must have direct investments in Cyprus of at least €5,0 million. Direct Investments may alternatively involve the following:
(a) the purchase of properties (houses, offices, shops, hotels etc or a development of a similar nature, excluding underdeveloped land),
(b) the purchase of businesses or companies that are based and are active in the Republic of Cyprus
(c) the purchase of companies registered in the Republic of Cyprus
(d) the purchase of financial assets (e.g. bonds / securities / debentures registered and issued in the Republic of Cyprus, including those to be issued by the Solidarity Fund on the basis of the Establishment of a National Solidarity Fund Law of 2013)
(e) participation in a company/ consortium of companies that has undertaken to carry out a public project
Provided that with regard to conditions (a) – (d), the applicant shall retain the said assets in his possession for a period of at least three years. In the case of a share or bond portfolio, it is to be ensured that the amount of the value of the portfolio for the said period will not fall below the amount specified.
Provided further that the Minister of Interior shall have the right, for the period ending on 30 June 2014, to reduce the amount required for Direct Investment to €2,0 million for non-Cypriot citizens, who demonstrably participate in a special collective real estate purchase scheme, which will comprise the purchase of property on the territory of the Republic of Cyprus, controlled by the Government of the Republic, of a total value of at least €10,0 billion.
A.3 Deposits in banks:
The applicant must have personal fixed term deposits for three years in Cypriot banks or deposits of privately owned companies or trusts (in which he/she is the beneficiary owner) in the Republic of Cyprus of at least €5,0 million