Hereunder is the relevant extract from the original regulation related to the Permanent residency in Cyprus.‘The Minister of Interior has decided on the preferential treatment for the immigration permits categories F, (as it is stated in the Aliens Immigrations Law of 1972 until 2004), which regards the citizens of non EU countries who have purchased a house to use as their personal residence in Cyprus, and whole value is not less than EURO 300,000’.
Hence, upon buying a property for not less than EURO300,000 you can get permanent residence of Cyprus (EU); which would lead to the Citizenship in due time.
More Detail
http://www.premiersintl.com/tov_iip_cyp.html
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