5. What does "acquisition of businesses or companies based in Cyprus" mean precisely?
This criterion pertains to a €5m/€2.5m (depending on whether the application is submitted as a group or individual) investment in the participation rights or shares of a Cyprus company(ies) that maintains offices and operates in Cyprus, employing a minimum of five Cypriot citizens, for a period of three years.
An eligible company/business can also be one that was acquired by the Investor, up to three years prior to filing his citizenship application.
In all cases, the Investor must demonstrate the correlation with the companies or businesses purchased. This requires the investor to continue to be an owner or be directly involved in the operations of the businesses acquired.