A non-Cypriot citizen, who meets certain economic criteria , either personally or through a company/ companies in which he/ she participates as a shareholder – proportionally based on the percentage of participation, or even as a high-ranking senior manager of a company/ companies , may apply for the acquisition of the Cypriot citizenship through Naturalization by exception.
A high-ranking senior manager may apply, provided that he/she receives such a remuneration that generates for the Republic tax revenue of at least €100,000 and provided that this tax has already been paid or prepaid.
A.TERMS AND CONDITIONS
- Clean Criminal Record: the applicant must have a clean criminal record. Furthermore, his name must not be included on the list of persons whose property is ordered to be frozen within the boundaries of the European Union. (The Certificate of Clean Criminal Record from the country of origin and the country of residence (if it differs) is also required.)The document issued by a foreign authority should be translated to either Greek or English and be duly authenticated (They should bear the stamp «APOSTILE», if they are issued by countries that have signed the Hague Convention, otherwise they should be sealed by the Ministry of Foreign Affairs of the issuing country and the diplomatic mission of the Republic of Cyprus in the issuing country).
- Residence in the Republic of Cyprus: In all cases listed in Part B the applicant must hold a permanent privately-owned residence in the Republic of Cyprus, the purchase price of which must be at least €500.000, plus V.A.T.
The applicant must have made an investment of at least € 2,0 million in the Republic Of Cyprus.
It can be submitted by foreign nationals, who have completed seven years of legal residence in the Republic prior to the date of application. In cases of aliens who are either parents or children of Cypriot citizens the time required is five years rather than seven. In any case, the applicant must have resided legally and continuously in Cyprus during the twelve months preceding the date of the application.