EMPLOYMENT PERMIT FOR NON E.U. NATIONALS

OCTOBER 2020

1.      Eligible businesses:

Cyprus of foreign interests’ 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 Authorities.

·     Public companies registered on any recognised stock exchange.

·     Companies of international activities (formerly off-shore), which operated before the change of regime, whose data are held by the Central Bank of Cyprus.

·     Cypriot shipping companies.

·     Cypriot high-tech/innovation companies. An enterprise qualifies as ‘High Technology Company’ if:

a.   it is already established and has a presence in the market, and

b.   it has a high level or experimental R&D intensity, and

c.   it developed product/s that fall into one of the following categories: products related to aviation and space industry, computers, electronic and telecommunication products, pharmaceuticals, biomedical, research and development equipment, electrical machinery, chemicals, non-electrical machinery.

·        Cypriot 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.

2.      Conditions:

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.      The company will have to apply for an approval and provide, between others, the following:

i.     Constitutional documents                              

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

iii.     Documents evidencing the chain of ownership

iv.     Title deed or rental agreement of their office premises

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.

3.      Employees:

A non E.U. national, subject to the relevant qualifications and experience, can be employed based on the following criteria:        

i.     The minimum acceptable monthly gross salary is €2500.         

ii.      Minimum Employment duration is two years.        

iii.     Applicant must be at least 24 years old with suitable qualifications evidenced by relevant documentation or with minimum professional experience of two years to similar to the position offered.

GENERAL NOTES:

The registration of the first employee can take place only following the approval and registration of the company at the Migration Authorities.

The employment permit for non-E.U. nationals is issued for a maximum of two years and may be renewed at such intervals indefinitely.

The company, subject to its annual turnover and business activities, should comply with the following split: 30% Europeans and 70% third country nationals as from the beginning of 2026. List ofdocuments for company and personnel may be provided upon request.