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Under what circumstances would the government revoke citizenship after it is granted through the Cyprus Citizenship by Investment scheme?

I heard that it is possible for the government to revoke Cyprus citizenship granted through the citizenship by investment program. I primarily want to be sure that any government changes or policy changes would not take citizenship away from my family if it is granted.

Answers

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    Marianna Pavlides

    Cyprus Law Firm
    Answered on

    Please be informed that the Cyprus government will not be revoking the Citizenship of the investor unless the terms and conditions of the scheme have been violated. The investment should be maintained for the period of three years, as per the current available investment scheme and the residential property should be maintained for life by the investor.

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    Yiannis Fanides

    Cyprus Law Firm
    Answered on

    The Cyprus Government has the right to revoke the Cyprus Passport given that the Applicant-Investor does not comply with the conditions of the Cyprus Passport Investment Regulations. Namely, the applicant must maintain his investment for at least 3 years and then he/she has to maintain a residential property of at least 500,000 euros for a lifetime.

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    Savvas Poyiadjis

    Cyprus Certified Public Accountant
    Answered on

    The Cypriot government has declared that if at any time an applicant that has obtained naturalisation by exception is found not to comply with the scheme''s requirements i.e. liquidate their 2m euros investment before the lapse of 3 years, the government reserves the right to revoke the naturalisation. In other circumstances, any change in policy or criteria would not affect any applicant as they would not apply retrospectively.

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