The applicant should have bought: units of at least 2 million euros from alternative investment funds (AIF) or registered alternative investment funds (RAIF) established in the republic of Cyprus, licensed/registered and supervised by the CySec and whose investments are made exclusively in the Republic of Cyprus; in investments that meet the criteria of this scheme or in areas approved by the minister of finance. It is permitted for these AIFs or RAIFs to invest in secondary market stock market values of the Cyprus Stock Exchange an amount that does not exceed 200,000. It should be noted, however, that the purchase by an AIF or RAIF of units of other AIFs or RAIFs is not considered eligible. As such an investment must be held by the applicant for at least five years, the manager or auditor of the fund shall be obliged to inform in writing on an annual basis to the ministry of finance with reference to the value of the initial investment. The purchase of financial assets of Cypriot companies or organizations of at least 2 million, such as bonds, bills and securities, issued with the approval of the CySec, by companies that have proven physical presence and substantial economic activity in the republic of Cyprus, and have as a purpose the financing of the investment plans of these companies or organizations exclusively in Cyprus, based on an investment plan, fall under this criterion. There are purchase or establishment or participation in Cypriot companies or businesses, with these requirements: contract of sale; proof of payment of the agreed purchase price; certificate of shareholders by the Registrar of Companies; copy of the wire transfer to a Cypriot commercial banking institution in the name of the company or the organization; a specific investment plan; copies of the employment contracts of the Cypriot or European Union citizens; employed by the company in which the applicant has invested; confirmation from the Social Insurance Department as to the insurable income of the Cypriot or European Union citizens employed in the company; copy of the Social Insurance Contributions for every Cypriot or European Union citizen employee; registration certificate (MEU1) or permanent registration certificate of Union Citizen (MEU3) for employees that are European Union citizens. There is also investment in alternative investment funds or financial assets of Cypriot companies or Cypriot organizations that are licensed by CySec, with the following required: title/titles and other relevant documents of the financial assets/units purchased; copy of the wire transfer to a Cypriot commercial banking institution in the name of the company or the organization; specific investment plan; confirmation by the CySec. The above will be examined by the ministry of interior.
