From the legal perspective Cyprus citizenship is governed by the Civil Registry Law 141/2002 to 2011 and Annex “D” of the Treaty of Establishment of the Republic of Cyprus. Naturalisation of foreigners is covered by Article 111 of the above law pursuant to which the Minister of Interior has absolute power of discretion to grant citizenship to a foreigner under certain conditions. However, the power to grant citizenship by exemption on the grounds of public interest under para. 2(f) of the Third Table of the Law of is vested exclusively with the Council of Ministers.
In July, 2007, the Council of Ministers placed certain financial criteria under which foreign investors/entrepreneurs would be naturalized by exemption. These criteria were revised by more recent decision of the Council of Ministers issued on 10.10.2011 and 24.05.2013.
The following are the criteria and conditions, as approved by the Council of Ministers. Читать далее