The Cyprus government has this month revised the requirements for the increasingly popular "Scheme for Naturalization of non-Cypriot investors by exception" whereby through a Euro 2 million investment in Cyprus, a non-Cypriot citizen can legitimately acquire a Cyprus passport for himself and his dependents thus reaping the benefits of European citizenship.

The scheme’s immense success is due to various factors; the fact that it is the quickest procedure in Europe with one being awarded a passport within three months from the date of submission; there is no residency requirement (unlike jurisdictions such as Portugal and the Netherlands) and no donated a...

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