In an attempt to further encourage non-EU residents to migrate to Cyprus, obtain Cyprus Employment Visa and possibly register a Cyprus company and headquartering in Cyprus, the Cyprus government revised its policy regarding the issuance of Cyprus temporary residence permits and Cyprus work permits to employees of existing Cyprus companies and new Cyprus companies of foreign interests.
Cyprus work permit (Cyprus Employment Visa) and Cyprus temporary residence permit issued by the Cyprus Civil Registry and Migration Department for non-EU residents working for International Cyprus Companies
Non-EU residents can migrate to Cyprus and apply for a Cyprus work permit (Cyprus temporary residence permit) in Cyprus by making sure that they have been employed by an international Cyprus company. The international Cyprus Company must fall within the policy of international Cyprus Company suitability.
Before applying to the Cyprus Civil Registry and Migration Department for a Cyprus work permit (Cyprus temporary residence permit) the person willing to migrate to Cyprus and apply for a Cyprus work permit must abide by the following entry requirements for Cyprus:
- Register a Cyprus company with the Cyprus Registrar of Companies and qualifies (eligible) as an international Cyprus company
- Eligible companies are those in which the majority of the shares are held by non-EU nationals. The majority (50% + 1) of the Cyprus company’s shares must belong to third-country nationals. If there is more than one third-country national shareholder, then the amount can be deposited or invested by one third-country national shareholder or collectively.
- Non-EU nationals owned Cyprus company must have a paid-up capital of €200.000 represented by cash at the bank through foreign direct investment or by an investment – assets such as immovable assets, rentals, equipment, etc. Capital need not be invested immediately.
- In the case where the percentage of foreign participation in the International Cyprus company’s share capital is equal to or less than 50% of the total share capital, in order for the international Cyprus company to be considered eligible, the foreign participation should represent an amount equal to or greater than the amount of €200.000. In the case of an already registered international Cyprus Company, the international Cyprus company in order to be considered eligible, the foreign participation should represent an amount equal to or greater than the amount €171.000.
- Other Cyprus companies (subject to conditions) considered eligible and which also need to have an initial capital of €200.000 are public companies registered on any recognised stock exchange, Cyprus shipping companies, Cyprus high-tech/innovation companies, Cyprus pharmaceutical companies, or Cypriot companies active in the fields of biogenetics and biotechnology, companies of whom the majority of the total share capital is owned by persons who have acquired Cypriot citizenship by naturalization based on economic criteria, provided that they prove that the conditions under which they were naturalized continue to be met.
- Cyprus temporary residency permit (Cyprus work permit) categories can be obtained per Cyprus International Company.
- Up to 5 Directors of upper management can obtain a Cyprus temporary residence permit.
- Up to 10 non-EU nationals not forming part of the managerial staff can obtain Cyprus residence permits such as clerical and technical personnel.
- Other staff that does not fall under the above categories are expected to be Cyprus or EU nationals however, exceptions may apply if there are not any Cyprus or EU nationals available in the labor market to be employed in a particular position which is also subject to the Labour Office approving the employment of the non-EU national.
- The above Cyprus temporary residence permit categories are subject to monthly gross minimum salaries imposed by the Cyprus Civil Registry and Migration Department. For highly skilled employment the minimum salary imposed is €2,500.
- Additionally, family members of upper and middle management staff are eligible to apply for their family members (spouse and minor children) to migrate to Cyprus, via the family reunification procedure.
- The international Cyprus Company must demonstrate that operates in independent offices in Cyprus, housed in suitable premises, separate from any private housing or another office, except in the case of business co-habitation.
Requirements before to migrate in Cyprus and before applying for a Cyprus work permit (Cyprus temporary residence permit) with the Cyprus Civil Registry and Migration Department:
Before to migrate in Cyprus and before applying for a Cyprus work permit with the Cyprus Civil Registry and Migration Department the following should be completed and collected:
On behalf of the employer – Entry requirements for Cyprus
- Original full set of Certificates of Incorporation by the Cyprus Registrar of Companies. The certificate of Shareholders by the Registrar of Companies should be demonstrating that the percentage of foreign participation in the Cyprus International company’s share capital is over 50% of the total share capital
- Directors’ Affidavit on the company’s ownership.
- Ultimate Beneficial Owners’ valid passport(s).
- Original Cyprus International Company’s Memorandum
- Description of Cyprus International Company’s principal activities.
- Deposited the share capital amount, supported by a Bank SWIFT or other similar document which proves a foreign direct investment by the ultimate beneficial owner, legally admitted to Cyprus from abroad. In the case where the investment has not directly been made by the ultimate beneficial owner, the relation of the investor to the ultimate beneficial owner must be proved and documented.
- Completed Analytical Statement of the Cyprus Company of Foreign Interests’ Personnel.
- Title of office ownership or a minimum of 2-year office rent agreement duly stamped if the total value of the rent agreement is more than €5.000. If the title of ownership has not been obtained yet, the applicant applying for a Cyprus residence permit must submit the contract of sale duly stamped by the Stamps Commissioner and the Department of Lands & Surveys and proof of payments.
- Where applicable, receipt of payment of the annual company fees
- If the Cyprus Company is not new
- Audited financial statements (for Cyprus International companies already operating in Cyprus)
- Tax Clearance Certificate for the Cyprus company (for companies already operating in Cyprus)
- Proof of Levy Payment with the Cyprus Registrar of Companies (for companies already operating in Cyprus).
On behalf of the employee – Applicant applying for Cyprus temporary residence permit requirements:
Before arriving in Cyprus:
- Application form
- Application fee (Maximum of 400 Euros depending on the type of the application)
- Copy of valid passport or another travel document with validity of at least two (2) years from the date of the submission of the application for the Cyprus work permit.
- Brief Curriculum Vitae (CV) (including copies of academic qualifications)
- Original letter of guarantee issued by a bank or cooperative institution in Cyprus covering possible repatriation expenses. The amount depends on the country of origin. (Maximum amount of 850 Euros)
- Original blood analysis results show that the third-country national does not bear/suffer from HIV, syphilis, hepatitis B and C, and a chest x-ray for tuberculosis (TB) from the country of origin
- Original Certificate of Criminal Record from the country of origin (if the person applying for a Cyprus residence permit resides in a country other than the country of origin, the certificate should be issued from the country of residence)
- Authorization for payment by bank transfer Financial Information and Management Accounting System (FIMAS)
After arriving in Cyprus and entry requirements for Cyprus:
- Copy of the passport or other travel document page of the person applying for a Cyprus work permit showing the latest arrival in Cyprus and visa
- Original Entry Permit
- Original blood analysis results show that the person applying for a Cyprus work permit does not bear/suffer from HIV, syphilis, hepatitis B and C and a chest x-ray for tuberculosis (TB) certified by a Doctor in Cyprus
- Title deed or rental agreement of a house/apartment fully certified by the relevant president of the community (mukhtar)
- Certificate of Health Insurance for medical care that covers inpatient and outpatient care and transportation of corpse (Plan A)
- Employer´s liability insurance with an automatic renewal
- The original contract of employment between the Cyprus Company and the person applying for a Cyprus work permit was duly signed and two (2) copies duly stamped
- Copy of Aliens Registration Card
- A Letter accompanying the application addressed to the Cyprus Civil Registry and Migration Department summarizing all relevant documents collected and submitted.
Once documents have been collected all the relevant requirements together with the application are submitted to the Cyprus Civil Registry and Migration Department. The presence of the person that wants to migrate to Cyprus is necessary!
Migrate to Cyprus and entry requirements for Cyprus – Other important notes
– Non-EU residents employed in companies of foreign interests as Directors Middle management executives or other key personnel are able to exercise their right to family reunification and migrate to Cyprus. In such a case, non-EU nationals who are family members (spouse and minor children) can migrate to Cyprus after the sponsor has followed the procedure for family reunification. For family members (spouse and dependent children) who temporarily do not qualify for family reunification (e.g. because of the duration of the passport or the duration of the marriage), Cyprus temporary residence permits for Dependent Visitor may be issued. These family members can enter via a Cyprus visa and then apply to the Cyprus Civil Registry and Migration Department for obtaining a Cyprus temporary residence permit.
– It is emphasized that at the time of the application submission, the photograph, fingerprints, and signature of the person applying for the Cyprus temporary resident permit will be captured by authorized personnel. For convenience purposes, the capturing of the above may take place up to one week after the submission of the application, at the District Units of the Aliens and Immigration Service of the Police, at the District of residence (for all Districts except Nicosia) by presenting the application submission receipt and a valid travel document. The application is not considered complete and cannot be processed further if these data are not captured
– No application is received from any person other than the employer or the non-EU or the sponsor, depending on the case, without presenting a duly certified authorization.
– The validity of the Cyprus work permit (Cyprus temporary residence permit) depends on the duration of the employment contract with the Cyprus International Company and can be up to two (2) years, with a right of renewal.
– Directors, middle management executives, and other key personnel of the Cyprus Company may migrate to Cyprus and reside in Cyprus without a time limit, provided they hold a valid Cyprus temporary residence and Cyprus employment permit.
– All registered Cyprus International Companies that continue to employ non-EU residents must, once a year, between 30 March and 30 June, submit to the Cyprus Civil Registry and Migration Department an update of the following:
– Recent audited international Cyprus Company audited financial statements
– Tax Clearance Certificate issued by the Cyprus tax department for the Cyprus International Company
– Cyprus Certificate of VAT clearance (where applicable).
– Proof of Levy payment with the Cyprus Registrar of Companies.
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