Cyprus has reduced the investment threshold for its citizenship-by-investment program from €5 million to €2 million across its asset classes.

Foreigners can now access Cypriot citizenship for €2.5 million, given the added requirement of a €500,000 real estate purchase.

The program has also been made more flexible, with investors able to combine all available categories and still pay only €2 million.

The country's prime location between Europe and the Middle East make it an extremely popular option for wealthy Arabs looking for a second citizenship.

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The content of this article reflects the personal insight of Attorney Colin Singer and needs no disclaimer.