Starting from March 19 2014, per the Cyprus law, the non-Europeans investing in the economy of Cyprus have the opportunity to obtain Cyprus (European) citizenship.
The Cyprus citizenship program offers the most simple and efficient means of obtaining EU citizenship; it is the only direct EU citizenship program as it has absolutely no residency requirement and passports are issued in just 3 months. Investors and their families can obtain full EU rights, including the ability to live and work in any EU country practically immediately.
Dual citizenship offers an effective tool for international tax planning and provides financial privacy for banking and investment. It improves personal security, enables freedom of movement and allows access to the best healthcare and education opportunities.
In March 2014, Cyprus changed the legislation that enables foreign investors to become a Cypriot (EU) citizen and obtain a Cypriot passport through naturalisation, making it more accessible and affordable than ever.