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What is the legal meaning of “acquisition of businesses or companies based in Cyprus?”

I am asking for the purpose of planning my Cypriot Citizenship by Investment application.

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    Marianna Pavlides

    Cyprus Law Firm
    Answered on

    In respect to the Cyprus Citizenship by Investment Scheme, an investor should invest at least the amount of €2 million by acquiring shares of a Cyprus Company. The Company should have at least 5 Cypriots and/or European full-time employees and provide a business plan confirming the investment for the period of 3 years within the Cyprus economy. Additionally, to this criterion, the investor should also invest in a residential property in Cyprus of at least €500,000.

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    Savvas Poyiadjis

    Cyprus Certified Public Accountant
    Answered on

    The meaning is that the investment needs to be made in the form of equity in the capital of a Cyprus company and used for its business. The company also needs to employ at least 5 Cyprus or EU nationals that have been residents of Cyprus for the last 5 years.

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