Cyprus due to its geographical position is an attractive destination for many opportunities either leisure but more importantly for business or employment reasons. Small size country, with short distances, foreign friendly with low criminality and low tax on income. 340 days of sunny days per year, those with many more, make Cyprus a popular destination.
Our law firm offers their legal assistance on all matters regarding Immigration Law, such as: Permanent Residency, International Businesses and their employees, Cyprus Startup Visa Scheme, Digital Nomad Visa, Citizenship and Citizenship due to marriage.
Permanent Residence Permit in Cyprus
Foreign Nationals of third countries outside the EU, are entitled to apply for Residence Permit in Cyprus based on the Categories referred to in Regulations 5 and 6(2) of the Aliens and Immigration Regulations.
Under the clause 5 of the Aliens and Immigration Regulations of 1972, third country national(s) may apply for a residence permit in Cyprus if they fall under either of the following categories:
• Persons who intend to invest in the agricultural, fishing and animal farming sectors, provided they have acquired appropriate land of the intended purpose, and they have available capital of €430,000.
• Persons who intend to work as self-employed in the mining sector, provided they have available capital of €350,000 a corresponding permit for mining is secured.
• Persons who intend to work as self-employed in a trade or profession in the Republic provided they have in their possession a corresponding business permit from the relevant authorities, if necessary and they have available capital of €260,000.
• Persons who intend to work as self-employed in a profession or science in the Republic provided they have the corresponding academic or professional qualifications and provided there is demand for such professions in Cyprus.
• Persons who have been offered permanent employment in the Republic that will not create undue local competition.
• Persons who possess, and have at their free disposal a secured annual income, high enough to guarantee a decent standard of living in Cyprus, without having to engage in any business, trade or profession. The minimum annual income acceptable under this category, amounts to €9570 for a single applicant, with the addition of at least €4620 for every person dependent there on.
Under the clause 6(2) of the Aliens and Immigration Regulations of 1972, third countries national(s) may apply for a residence permit in Cyprus, if they fall under either of the following categories:
• Investment of at least €300.000 in a house or apartment. Purchase of a house or apartment from a land development company, which should involve a first sale of at least €300.000 + 19% VAT.
• Investment in real estate (excluding houses or apartments). Purchase of other types of real estate such as offices, shops, hotels or similar developments or a combination of these with a total value of €300.000.
• Investment in share capital of a Cyprus Company with activities and staff in Cyprus. Investment worth of €300.000 in a share capital of a company registered in the Republic of Cyprus, based and operating in the Republic of Cyprus and having a proven physical presence in Cyprus and employing a least five (5) people.
• Investment in shares of Cyprus Investment Organization of Collective Investments (type AIF, AIFLNP, RAIF). Investment worth of €300.000 in shares of Cyprus Investment Organization of Collective Investments.
The applicant must, in addition to the investment, as was mentioned above, be able to prove that he has at his disposal an insured annual income of at least €30.000. The annual income, increases by €5000 for each dependent family member and €8000 for each dependent parent of him and/or his spouse.
This income may come form salaries, pensions, dividends on shares, permanent deposits, rents, etc., coming from abroad for the cases that the applicant chooses to invest as the first requirement mentioned above. In calculating the total income, the income of the applicant’s spouse can also be taken into account.
In the cases that the applicant chooses to invest as per the following three (3) requirements mentioned above, his total income or part of it may also come from sources coming from activities within the Republic.
Persons who are granted an Immigration Permit must obtain permanent residence in the Republic within one (1) year from the date of approval of the submitted application, while they must, like their family members, not remain outside the Republic for a period of two (2) years. Otherwise the Immigration Permit ceases to be valid.
Quality Criteria
• The applicant and his spouse must submit a clean certificate of criminal record from their country of residence or from the Republic of Cyprus, in case they are reside in Cyprus and generally do not pose in any way a threat to public order or public security.
• The applicant and his spouse will certify that they do not intend to work in the Republic of Cyprus, with an exception of their employment as Directors in Company in which they have chosen to invest under this policy.
• In cases where the investment does not concern the Company's share capital, the applicant and/or his spouse may be shareholders in Companies registered in Cyprus and the dividend income in such companies may not be considered as an obstacle for the purposes of obtaining the Immigration License. They may also hold the position of Director, without receiving any income from such Companies.
The holders of this type of permits are not allowed to perform any professional or business activities in Cyprus and also they are obliged to visit Cyprus at least once every two (2) years.
International Business Company
An International Business Company is entitled to hire third country nationals. It may apply to the Migration Department to obtain permission for hiring third country nationals. The following Foreign Companies are eligible:
• Foreign companies/undertakings operating in the Republic of Cyprus or foreign companies / undertakings intending to operate in the Republic of Cyprus and operating independent offices in Cyprus, housed in appropriate premises, separate from any private residence or other office
• Cypriot shipping companies
• Cypriot high technology / innovation companies,
• Cypriot pharmaceutical companies or Cypriot companies active in the sectors of biogenetics and biotechnology.
Employment of third-country highly skilled nationals provided that:
• They will be paid a minimum gross monthly salary of € 2,500
• They will hold a university degree or diploma or equivalent qualification or confirmation of relevant experience in a corresponding employment position of at least 2 years duration.
• Submit an employment contract of not less than two years. The maximum number of third-country nationals that can be employed is set at 70% of all employees over a period of 5 years, from the date of joining the Business Facilitation Unit. After the lapse of 5 years if it is not possible to employ 30% of Cypriot workers, the matter will be re-examined on a case-by-case basis.
Employment of third country nationals support staff (with a gross monthly salary of less than € 2,500), is permitted provided that it does not exceed 30% of the total support staff and provided that there is an employment contract between the third country national and the employer which is duly validated by the competent authority in accordance with current legislation. Their salary is determined by the current legislation. The Companies/undertakings in order to obtain the relevant staff permits for third country nationals they must submit certificates of registration issued by the Registrar of Companies and the Tax Department.
• Immediate and free access to the labour market, with remunerated employment for spouses whose family member has obtained a residence and work permit in the Republic, and who receive a minimum gross monthly salary of €2,500 (excluding support staff).
Digital Nomad Visa
Eligible are third-country nationals that are self-employed professionals or salaried employees, working remotely with the use of information and communication technologies with employers / clients outside Cyprus for a duration of at least twelve (12) months.
• They have the right to stay in the country for up to one (1) year, with the right of renewal for another two (2) years
• They can be accompanied by their family members, who are granted, upon request, a residence permit that expires at the same time as that of the financial supporter of the family. During the stay in Cyprus, the spouse or partner (concerns persons who have entered into a civil partnership agreement) and the minor members of the family are not allowed to engage in any form of economic activity in the country.
• If they reside in the Republic for one or more periods totaling more than 183 days within the same tax year, they are considered tax residents of Cyprus, provided that they are not tax residents in any other State.
Necessary preconditions: The residence permit is issued to the person concerned, provided that he/she submits :
• A declaration, stating his intention to reside in the country with a residence permit for the purposes of carrying out work remotely and his commitment that he will not in any way provide work or services to an employer based in Cyprus,
• An employment or works
• Contract or proof of an employment relationship with an employer, natural or legal person, who is established outside the Republic of Cyprus, of an indefinite period or in the case of a fixed -term contract with the remaining duration covering the period of the residence permit granted, or
• Employment or work s contracts of indefinite duration or, in the case of a fixed-term employment contract, with the remaining duration covering the period of validity of the residence permit granted, if the third -country national is self -employed with more than one employer established outside the Republic of Cyprus, or
• Information on the status of the applicant in the business, as well as information on the business
Citizenship
It can be submitted by foreign nationals, who have completed seven (7) years of legal residence in the Republic prior to the date of application. In cases of aliens who are either parents or children of Cypriot citizens the time required is five (5) rather than seven (7) years.
In any case, the applicant must have resided legally and continuously in Cyprus during the twelve (12) months preceding the date of the application.
Accompanying documents:
• Birth certificate of the applicant.
• Certificate of clean criminal record of the applicant.
• Marriage certificate.
• Copies of all the pages of all the passports of the applicant showing his/her arrivals and departures in Cyprus. • Detailed statement of arrivals and departures completed by the applicant.
• Copies of newspaper advertisements in two consecutive publications which report that the applicant has filed an application for naturalization. • Two passport size photographs. • Photocopy of receipt for the amount of €500 paid as fees.
PLEASE NOTE that all public documents issued abroad must:
a) Bear an official translation into Greek or English from Press and Information Office.
b) Be certified with APOSTILLE if the country has signed the Hague Convention of 1961 or
• Certified by the Ministry of Foreign Affairs of the country of origin of the applicant and then by the Embassy/Consulate of Cyprus in his country or
• The Ministry of Foreign Affairs of the country of origin of the applicant and then the Embassy / Consulate of his country in Cyprus and then certified by the Ministry of Foreign Affairs of Cyprus.
In the instance that the country of origin of the applicant has not signed the Hague Convention of 1961and there is no Embassy /Consulate in the above mentioned country the documents must be certified by the Ministry of Foreign Affairs of the country of origin of the applicant and then the nearest Embassy / Consulate which is accredited to Cyprus.
Citizenship due to Marriage
These applications can be submitted by foreign spouses of Cypriot nationals, who have completed three years of marriage and two years of residence in the Republic prior to the date of application (For spouses of overseas Cypriots please see last paragraph).
Applications should be subsided at the Administration Districts where the applicant resides (Cypriot nationals ) or at the nearest Embassy (Overseas Cypriots).
Accompanying documents:
• Birth certificate of the applicant
• Certificate of clean criminal record of the applicant / Document power for six months.
• Marriage certificate
• Birth certificate of the couple’s children
• Photocopy of the applicant’s passport
• Photocopy of the Cypriot spouse’s passport
• Certificate of acquisition of the Cypriot citizenship of the Cypriot spouse (where applicable)
• Statement of harmonious cohabitation signed before an Officer of the District Administration Office or the diplomatic authority
• Statement of cohabitation from the local authority
• The application should be submitted in duplicate and one of the two application forms should bear two stamps worth €8.54 euros.
• Photocopy of receipt for the amount of €300 euros paid as fees
Application for acquisition of citizenship can be submitted by spouses of overseas Cypriots after they have completed at least three (3) years of marriage. These applications must additionally be accompanied by a letter from the couple stating the reasons for requesting the grant of the Cypriot citizenship to the foreign spouse. If the couple has completed at least five (5) years of marriage and has at least one (1) child, it is not necessary to attach the aforementioned letter.
PLEASE NOTE that all public documents issued abroad must:
a) bear an official translation into Greek or English from Press and Information Office.
b) Be certified with APOSTILLE if the country has signed the Hague Convention of 1961 or
• Certified by the Ministry of Foreign Affairs of the country of origin of the applicant and then by the Embassy/Consulate of Cyprus in his country or
• The Ministry of Foreign Affairs of the country of origin of the applicant and then the Embassy / Consulate of his country in Cyprus and then certified by the Ministry of Foreign Affairs of Cyprus.
• In the instance that the country of origin of the applicant has not signed the Hague Convention of 1961 and there is no Embassy /Consulate in the above mentioned country the documents must be certified by the Ministry of Foreign Affairs of the country of origin of the applicant and then the nearest Embassy / Consulate which is accredited to Cyprus.
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