<P> Naturalization is referred to as the process for which a non-citizen of a country, in this case Cyprus, may become a citizen of that country . The process may be done via a statute or an application to the relevant authorities . </P> <P> In March 2014, the Cyprus Council of Ministers revised the "Scheme for Naturalization of Investors in Cyprus by Exception" as part of the government's attempts to attract foreign investors to the country . One of these attempts included a citizenship - by - investment program that granted applicants the right to live, work and study in Cyprus and in the European Union . </P> <P> On September 13th, 2016 Council of Ministers of Cyprus approved a new program of financial criteria for investors wishing to obtain citizenship of Cyprus . Applicants applying for Cypriot citizenship through this citizenship - by - investment option must actively invest in the Cyprus economy, by primarily purchasing real estate at a minimum value of 2m Euro which must be held for at least 3 years, thereafter the property may be sold however they must maintain a property of at least 500,000 Euro indefinitely . Citizenship by investment includes the main applicant and his her spouse and unmarried dependents aged 27 and under . The main applicants parents can also be added for an additional investment of 500,000 Euro . </P> <P> Popular cities for real estate investment are as follows: (April 2017) </P>

How long does it take to get citizenship in cyprus