Α.1 Investment in real estate, land development and infrastructure
The applicant must have made an investment of at least €2,0 million for the
purchase or construction of buildings or for the construction of other land
development projects (residential or commercial developments, developments in
the tourism sector) or other infrastructure projects.
or Α.2 Investment in financial assets of Cypriot companies or Cypriot
Note: Investment in land under development is included
in this criterion,
provided that an investment plan for the development
of the purchased land will
be included in the application. Investment in land
that is situated in a building
zone of zero development is excluded.
The applicant must have made a purchase or should have participated in Cypriot
companies or Cypriot organizations with investment cost of at least €2,0
It is noted that such applications will be examined in a way to verify that the
companies have proven physical presence in Cyprus, with significant activity and
turnover and employ at least 5 Cypriot or citizen of European Union member
states. The minimum number of employees shall increase, if more than one
applicant invests simultaneously or almost simultaneously in the same business
or company. In addition, the employees of the companies need to have legally
and continuously resided in Cyprus during five years preceding the application
or Α.3 Investment in alternative investment funds or financial assets of
Cypriot companies or Cypriot organizations that are licensed by CySec:
Note: The invested funds shall be channeled towards the financing of the
investment objectives of these companies exclusively in Cyprus, based on
specific investment plan.
The applicant should have bought units of at least €2,0 million from alternative
investment funds (AIF) established in the Republic of Cyprus, licensed and
supervised by the CySec and whose investments are made exclusively in the
Republic of Cyprus, in investments that meet the criteria of this Scheme or in
areas approved by the Minister of Finance.
In order to confirm that the investments that meet the criteria of the current
Scheme will be kept for at least three years, the manager or the auditor of the
Fund shall inform in writing and on an annual basis, the Ministers of Finance
Interior with reference to the value of the initial investment.
or Α.4 Combination of the aforementioned investments:
- (a) The purchase of financial assets of Cypriot companies or
organizations of at least €2,0 million, such as bonds, bills and
issued with the approval of the CySec, by companies that have proven
physical presence and substantial economic activity in the Republic
Cyprus, and have as a purpose the financing of the investment plans
companies or organizations exclusively in Cyprus, based on an
plan, fall under this criterion.
- (b) The purchase by an AIF of units of other AIFs is not considered
The applicant may proceed with a combination of the above investments,
provided that the total investment will amount up to at least €2,0 million.
The applicant within this criterion may purchase special government
bonds of the Republic of Cyprus, up to €500.000, which will be issued by
the Public Debt Management Office of the Ministry of Finance, on
condition that the investor will retain these bonds for a three year period.
The characteristics of these special bonds will be determined by the
General and Special Issue Terms of the Government Bonds of the
Republic of Cyprus. Investments in government bonds through the
secondary market are not considered eligible.