The Republic of Cyprus has recently amended its Naturalization by Exception Programme. The changes become effective as of 15 May 2019. Highlights include:
A minimum investment of € 2.5m +VAT, compared to € 2m + VAT with current status under some conditions.
The holding of relevant real property for a minimum of 5 years, compared to 3 years under the current status.
An additional contribution of € 150k into donations and start-ups.
The holding of a Schengen Visa before applying.
Although it is possible to resolve all of these new requirements in May, we do recommend that those seeking Cypriot 2nd citizenship consider the application process prior to the new guidelines.
Citizens of the Republic of Cyprus enjoy visa free travel to some 173 countries around the world.