In an effort to promote Cyprus as a center for investment the Council of Ministers of the republic of Cyprus has enforced the scheme for naturalization of investors in Cyprus by exception. This scheme is practically aiming in inviting foreign direct investment in return, of which the investor is privileged to obtain European citizenship.
Permanent Residence in Cyprus can be obtained by direct investment in real estate. The program requires investment in real estate with a minimum market value of €300,000 plus VAT.
Provided that the above criteria are met, the application shall be examined by the Minister of Interior and the permit is expected to be granted within two months. You can get more information here. Click Here