Cyprus was hit by financial crisis hard in 2012 with big impact on local investors that have lost millions in bank shut downs … now Cyprus is adapting its law to compensate and to get more attractive again. We have seen in December announcement from Cyprus government regarding their EU Citizenship laws. Investors that have lost substantial money in the almost bankruptcy of Cyprus in 2012, could still qualify for the EU Citizenship if they have stayed in Cyprus. I addition there has been update for new investors:
– investing 2 million Euro into a shares / bonds of Cyprus state investment company or
– donate 500.000 Euro to the Cyprus Research Fund
would qualify for Cyprus and thus EU Citizenship. It surprised us that the new law was published in this way, with all the influence that Europe now has over Cyprus. But it is a good move for foreign investors.