18 November 2022

The Companies admitted to hiring foreign employees through the Business Facilitation Unit (BFU) and admitted by the Migration Office can hire highly qualified third country nationals by offering them a minimum gross salary of 2,500 euros per month.

The maximum number of foreign employees is set at 70% of all employees within five years from the date of application to the BFU.

In the event that, after five years, the company is unable to hire 30% of the Cypriot employees, the renewal of the employment permit will be reviewed.

Third-country nationals must have a university degree or a diploma or equivalent qualification or proof of relevant work experience in a relevant position of at least two years and must provide an employment contract of at least two years.

From July 2022, it is allowed to apply for a three-year work visa, provided that the employment contract is signed for three years, and the passport does not expire earlier than three years.

In addition, such companies may employ support staff from third-country nationals with a gross monthly salary of less than 2,500 euros, provided that third-country nationals do not exceed 30% of the total number of employees.

RESIDENCE PERMIT FOR FAMILY MEMBERS OF RELOCATED EMPLOYEES

Spouses whose family member has received a residence and work permit in Cyprus and who receive a minimum gross salary of 2,500 euros per month are eligible for a residence permit in Cyprus under the accelerated procedure and their salary can be less than 2,500 euros. Relevant application need to be submitted to the Migration Office in this regard.

DIGITAL NOMAD RESIDENCE PERMIT

Third country nationals (employees) who work remotely with clients outside of Cyprus may reside in Cyprus for at least 1 year under the Cyprus Digital Nomad Visa scheme.

Their family members can also receive a residence permit, but they are not allowed to engage in any economic activity in Cyprus.

t should be noted that this is a residence permit, not a work permit, and can be obtained subject to the following conditions:

- Minimum monthly net income from abroad must be at least €3,500, increased by 20% for spouse/partner and 15% for each child;

- Sworn declaration that he/she will not offer any services to an employer in Cyprus;

- An employment contract or confirmation of an employment relationship with an employer located outside the Republic of Cyprus;

- If the applicant is self-employed, then evidence is needed to confirm the applicant's ability in his/her company, the type of activity of his/her company.

The list of benefits that Cyprus offers to foreign companies and third country nationals is not exhaustive. The Cyprus business ecosystem is changing to attract third country nationals who decide to move to the island, as well as foreign companies that can easily relocate their business without losing great employees.

The information provided by O.PAPADIMITRI LLC is for general information purposes only and should not be construed as professional or formal legal advice. You should not act or refrain from acting on any of the information provided above without obtaining legal or other professional advice. For more information please contact us. .+357 9666-4774 (Viber, WhatsApp) / olga@papadimitri.com