This category addresses to individuals who wish to work in the republic of cyprus as employees of companies of foreign interests.
Under this category the applicants must be employees, registered with the social insurance and the tax department, paying taxes and social insurance contributions in cyprus on the income earned in cyprus.
This kind of residence permit is temporary and should be renewed every 2 years and under the new law after 3 years.
According to the new law, as of 1st january 2022 the procedure and the requirements for applying to that category were amended and the business facilitation unit (bfu) was set as the single point of contact for foreign companies (to accelerate the issuance and renewal of employment and residence permits).
The majority of the companys shares of the eligible businesses must be owned by third-country nationals. It is noted that if the percentage of the foreign participation in the share capital of the company is equal to or below 50% of the total share capital, the company shall be eligible only when this percentage of the share capital represents an amount equal to or greater than the amount of 200,000.
In accordance with the new law all the companies under this category are obliged to employee the 30% of cypriots or eu citizens within the duration of 5 years. After the 2nd of january 2027 the competent authorities shall examine the percentage of the personnel employed by the companies and if one company does not maintain the proportion of 70/30 the case shall be examined based on its own conditions by the competent authorities.
The procedure to be followed under the business facilitation unit is described as follows:
- Businesses wishing to transfer their operations or expand their activities in cyprus, must express their interest by submitting a relevant request to the business facilitation unit of the ministry of energy, commerce and industry through email. The email must be accompanied by a letter of expression of interest for the establishment or expansion of their activities in cyprus. The letter of intent should include a brief description of the company, activities (nature of business as stated in the articles of association), number of staff, expansion plans, etc. The request shall be supported by the necessary documents described below.
- The unit will inform the investor in writing of the next steps and the documents that would have to be submitted in accordance with the services he/she wishes to utilize.
- All the necessary registrations for the establishment of the company will be completed within seven (7) working days from the date of submission of all the necessary documents to the ministry of energy, commerce and industry.
The confirmation of the registration of an eligible company in the register of companies of foreign interests will be done by electronic means (by email).
Following the receipt of the confirmation of the registration of the company to the register of companies of foreign interests we will be able to apply at the immigration department for the issue of residence and working permits to the employees of the company.
The company must have offices and substance in cyprus. A requirement for the establishment/operation of independent offices in cyprus, in suitable premises, separate from any private housing or other office.
Categories of staff:
- Directors registered in the registrar of companies the minimum acceptable gross monthly salary for directors is 4.000, an amount that may be adjusted from time to time, depending on fluctuations in the wage index.
- Middle management executives and other key personnel: in this category the following third country nationals are included: upper / middle management personnel, the minimum acceptable gross monthly salary for this category is 2.500. Amounts may be adjusted from time to time, depending on wage index fluctuations.
DOCUMENTS
The company should present to the competent authorities:
Certificate of Incorporation
Certificate of Registered Office Address
Directors’ Certificate
Shareholders’ Certificate, proving that the percentage of foreign participation in the company’s share capital is over 50% of the total share capital*. In the case where legal entities (e.g. local or foreign companies, trusts) are the shareholders, a shareholders’ structure diagram presenting the whole chain of ownership up to the final owners (natural persons who are the ultimate beneficial owners) should be declared and documented.
* In case where the percentage of foreign participation in the company’s share capital is equal to or less than 50% of the total share capital, in order for the company to be considered as suitable, the foreign participation should represent an amount equal to or greater than the amount of €200.000.
Director’s Affidavit on the company’s ownership (from one of the directors if many)
Ultimate Beneficial Owners’ valid passport(s)
Articles of Association of the company
Rental agreement document or title deed or a sale document for the offices of the new business (with stamp duty)
Audited Financial Statements (for companies already operating in Cyprus)
Tax Clearance Certificate for the company (for companies already operating in Cyprus)
The Individual employee should present to the authorities:
- Copy of valid passport or other travel document with validity of at least two (2) years from the date of the submission of the application.
Brief Curriculum Vitae – CV (including copies of academic qualifications/diplomas (translated and apostille) relevant professional experience of at least two years and reference letter proving the relevant experience).
Employer declaration for covering the return cost of the third country national.
Original Certificate of Criminal Record from the country of origin (if the applicant resides in a country other than the country of origin, the certificate should be issued from the country of residence).
Copy of the passport’s or other travel document’s page, showing the latest arrival in the Republic. When submitting the application, the presentation of the original passport is mandatory, for verification.
Original contract of employment, of at least two years of duration, dully signed and stamped, as well as two (2) copies of the stamped original contact, also dully stamped.
Note: the minimum gross monthly salary for highly skilled employment is set at € 2500.
Original blood analysis results, performed in Cyprus, showing that the third country national does not bear/suffer from HIV, syphilis, Hepatitis B and C and a chest x-ray for tuberculosis (TB), certified from a Specialised Doctor in Cyprus.
Title deed or rental agreement of a house/apartment, dully stamped if valued over €5000.
Valid Certificate of Health Insurance for medical care that covers inpatient and outpatient care as well as transportation of corpse (Plan A), automatically renewable, OR
Registration Certificate in the General Healthcare System (GHS – GESY) and private health insurance for transportation of corpse.
Employer´s liability insurance with an automatic renewal.
All the above documents should be translated and apostilled.
Please note that upon submission of the application in this case, the Individual can come and stay in Cyprus.
FAMILY MEMBERS
Third country nationals employed in companies of foreign interests as Directors or Middle management executives, or other key personnel are able to exercise their right to family reunification. In such a case, third country nationals who are family members (spouse and minor children) can enter and reside in 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), temporary residence permits of Dependent Visitor may be issued. These family members can enter via a visa and then apply to the Department for obtaining a temporary residence permit. For the application and the documents to be attached, see the documents below.
For the child:
- Copy of valid passport or other travel document with validity of at least three (3) months over the requested duration of stay.
Birth Certificate of the sponsor’s child.
Copy of court decision for exclusive parental custody, or affidavit where the other parent agrees to the stay of the minors in the Republic for the proposed duration of stay (where applicable).
Original Certificate of Criminal Record for the sponsor’s family members, from the country of origin or the country of residence. For children under the age of sixteen (16) a criminal record is not required.
Title deed or Rental Agreement of the sponsor, with description of the house/flat and proof of rent payments (where applicable).
Sponsor’s Certificate of Social insurance contributions, for the last year (where it is obligatory by the Law).
Income Tax Clearance Certificate for the previous year (Form I.R.25).
Proof of stable or adequate income of the applicant or the sponsor, accordingly (i.e. salary, pension, bank account’s statement, interest from deposits, dividends etc).
Copy of registration certificate or certificate of attendance from an academic institution in Cyprus or abroad (only in cases of pupils or students).
Original letter of guarantee issued by a bank or cooperative institution in Cyprus with validity of 10 years covering possible repatriation expenses. The amount depends on the country of origin.
Authorization of Representative.
Medical examination certificate showing that the sponsor’s family members do not bear/suffer from HIV, Syphillis, Hepatitis B and C and Tuberculosis, certified by a Doctor. As far as Tuberculosis is concerned, for children under the age of 15, no X-ray examination is necessary. The Mantoux Skin Test is also accepted. The Mantoux Skin Test can be performed at, or validated by the Public Hospitals’ Pulmonary Clinics. Medical examination results are not requested for children under the age of 6 that were born in Cyprus.
Valid Certificate of Health Insurance for medical care that covers inpatient and outpatient care as well as transportation of corpse (Plan A), automatically renewable, OR
Registration Certificate in the General Healthcare System (GHS – GESY) and private health insurance for inpatient health care and transportation of corpse.
Copy of the passport or other travel document, indicating the last arrival in the Republic and the relevant visa (if applicable).
For the spouse:
- Copy of valid passport or other travel document with validity of at least three (3) months over the requested duration of stay.
Copy of the passport or other travel document, indicating the last arrival in the Republic and the relevant visa (if applicable).
Marriage Certificate.
Medical examination certificate showing that the sponsor’s family members do not bear/suffer from HIV, Syphillis, Hepatitis B and C and Tuberculosis, certified by a Doctor. As far as Tuberculosis is concerned, for children under the age of 15, no X-ray
examination is necessary. The Mantoux Skin Test is also accepted. The Mantoux Skin Test can be performed at, or validated by the Public Hospitals’ Pulmonary Clinics. Medical examination results are not requested for children under the age of 6 that were born in Cyprus.
Original Certificate of Criminal Record for the sponsor’s family members, from the country of origin or the country of residence. For children under the age of sixteen (16) a criminal record is not required.
Title deed or Rental Agreement of the sponsor, with description of the house/flat and proof of rent payments (where applicable).
Sponsor’s certificate of contributions to the Social Insurance Fund, for all years of residence in the Republic – Form YKA B-9.
Income Tax Clearance Certificate for the previous year (Form I.R.25).
Proof of stable or adequate income of the applicant or the sponsor, accordingly (i.e. salary, pension, bank account’s statement, interest from deposits, dividends etc).
Certificate of full medical insurance which covers both in-patient care, out-patient care and transportation of corpse (Plan A).
Original letter of guarantee issued by a bank or cooperative institution in Cyprus with validity of 10 years covering possible repatriation expenses. The amount depends on the country of origin.
Authorization of Representative.
All the documents issued in abroad must be translated and apostille in order to present at the Immigration Department in original.