OR
(2) The applicant should have purchased financial assets of Cypriot companies or Cypriot organizations such as bonds, securities and debentures which have been registered and issued in the Republic of Cyprus worth at least €5 million. These financial assets may be purchased either at issuance or subsequently from the market.
OR
(3) The applicant must have made an investment of at least €5 million for the acquisition or construction of buildings or for the construction of other real estate projects such as residential or commercial developments, developments in the tourism sector or other infrastructure projects.
OR
(4) The applicant should have invested at least €5 million in companies or businesses which:
(a) are based in Cyprus;
(b) have a verifiable physical presence in Cyprus i.e. maintain office in Cyprus;
(c) employ at least 5 Cypriot citizens.
The investor could either register a company or buy shares in an existing one (either existing or newly issued).
Any persons whose deposits in the Bank of Cyprus PLC were mandatorily converted into shares following the March 2013 bail-in are eligible to apply under this criterion.
OR
(5) The applicant should have deposits in Cyprus banks amounting to €5 million, with a three year duration period. The deposits can be either personal or deposits of the applicant’s private company or of a trust where the applicant is the beneficiary. “Cyprus banks” means local banks and subsidiaries of foreign banks but excludes branches of foreign banks.
OR
(6) The applicant must satisfy the €5 million requirement, by any combination of the conditions set out in paragraphs (1) – (5) above;
OR
(7) The applicant must have lost from his deposits in the ex Laiki Bank due to the measures implemented on ex Laiki Bank after March 15, 2013:
(a) An amount of at least €3 million in the ex Laiki Bank.
(b) If the applicant has lost less than €3 million he can still file an application for citizenship if he makes an additional investment through the criteria set out in paragraphs (1) – (5) above for the amount that remains in order to gross up to €5 million.
OR
(8) The Council of Ministers has at its discretion the right to relax certain criteria. In this respect,
(a) An applicant will be required to invest a reduced amount of €2,5 million in any of the conditions set out in paragraphs (1) – (4) above, provided that he participates in a collective investment scheme investing in same worth at least €12,5 million.
(b) An applicant will be required to invest a reduced amount of €2 million in any of the conditions set out in paragraphs (1) – (4) above, provided that he participates in a collective investment scheme investing in same worth at least €12,5 million. Applications under this criterion 8(b) should be submitted by June 1, 2014.
OR
(9) An applicant who satisfies one of the criteria set out in paragraphs (1)-(8) above, either personally or through company/-ies in which he is a shareholder or as a high-ranking senior manager of a company/-ies that satisfy one of the criteria set out in paragraphs (1)-(8) above, may apply for the acquisition of the Cypriot citizenship by exemption.
A high-ranking senior manager may apply, provided that:
(a) his remuneration is such which generates at least €100,000 of tax revenues for the Republic for a three year period;
(b) the above tax has already been paid or prepaid;
(c) he has concluded the necessary investments during the 3 years preceding the application year. In other words, if the applicant applies in 2014, the investment must have been concluded between 2011-2014;
(d) he retains the said investments for a period of at least 3 years following his naturalization.