Employment permit at international companies

For a company to employ non E.U. nationals it must be a Cyprus company of foreign interests. A company is considered to be of foreign interests when the majority of the company’s shareholders are non-E.U. nationals. In the case of shareholders whose beneficial owners are foreign companies, evidence of identity of ultimate beneficial owner/s should be submitted with the Civil Registry and Migration Department (CRMD).

1. Eligibility to employ

a. The company should operate from their self-contained offices in Cyprus, which should be located in suitable distinct premises, not part of a

private residence or another office, except from cases of companies that share lodging.

b. When the company applies for the employment of their first non E.U. national they must submit, among others, the following with CRMD:

i. Constitutional documents in original.

ii. Profile describing the nature of the company’s business and activities.

iii. Documents evidencing the chain of ownership.

iv. Deposit of €170.860 to be made by the shareholder with funds originating from abroad.

v. Title deed or rental agreement of the office premises.

vi. Company’s bank account with minimum deposit of €41.006.

2. A non E.U. national, subject to the relevant qualifications and experience, can be employed to one of the following positions:

a. Executive director. This includes directors of partners, general managers of branches and subsidiary of overseas company and department

managers of companies operating from Cyprus for at least two years.

b. Middle management staff, executive staff and any other key personnel. This includes non-executive directors, middle management/executive

staff and other managerial or technical personnel.

For more information please contact us at info@esergiou.com