Cyprus work (resident) permit issued by the Cyprus Civil Registry and Migration Department for third-country nationals working for Cyprus International Companies

Third-country nationals can apply for Cyprus work permit (Cyprus temporary resident permit) in Cyprus by making sure that they have been employed by a Cyprus Company. The Cyprus Company must fall within the policy of Cyprus Company suitability.

Before applying to the Cyprus Civil Registry and Migration Department the person applying for Cyprus work permit must make sure that:

1. A Cyprus Company has been registered with the Cyprus Registrar of Companies
2. Deposit an amount of at least €170.860, supported by a Bank SWIFT or other similar document which proves a foreign direct investment by the ultimate beneficial owner, legally admitted to Cyprus from abroad. We recommend that the amount deposited should be slightly increased so as to cover additional incidental costs. Ultimately the Cyprus Company is allowed to be left with a balance in its bank account of at least €41.006 but initially, the Cyprus company should be demonstrating that the amount of €170.860 has reached Cyprus Company’s bank account.
3. The Cyprus Company must demonstrate that operates in independent offices in Cyprus, housed in suitable premises, separate from any private housing or another office, except in the case of business co-habitation.
4. The Cyprus International Company acting as an employer should demonstrate that steps were taken to employ a Cyprus resident person but without any success therefore the Cyprus Company should first advertise the relevant vacancy in at least 2 local newspapers. The position announced via an advertisement demonstrates that the Cyprus Company has not been able to find a suitable person for its needs in the labor market of Cyprus. The relevant government department is competent to examine whether regarding the specific profession or job there are no available or adequately qualified Cypriots and then to make a recommendation for the employment of aliens.
5. Obtaining a reference letter from a local professional in Cyprus that the person applying for Cyprus resident permit is well known to the professional, that meets regularly with the applicant, that the person applying for Cyprus work permit resides in Cyprus, that his Cyprus permanent residence address is known to the professional etc.
6. The applicant applying for the Cyprus work permit must issue a Cyprus Aliens Registration Card first. The applicant can apply first for a Cyprus Aliens Registration Card at the local Immigration Office of the Cyprus Police within eight days of arrival. There is a small fee for this. Biometric data such as fingerprints and photos are collected at this stage.

Requirements before applying for Cyprus work permit (Cyprus resident permit) with the Cyprus Civil Registry and Migration Department:

Before applying for Cyprus work permit with the Cyprus Civil Registry and Migration Department the following should be completed and collected:

On behalf of the employer – Cyprus Company requirements

1. Original full set of Certificates of Incorporation by the Cyprus Registrar of Companies. The certificate of Shareholders by the Registrar of Companies should be demonstrating that the percentage of foreign participation in the Cyprus International company’s share capital is over 50% of the total share capital
2. Directors’ Affidavit on the company’s ownership.
3. Ultimate Beneficial Owners’ valid passport(s).
4. Original Cyprus International Company’s Memorandum
5. Description of Cyprus International Company’s principal activities.
6. Deposited amount of at least €170.860, supported by a Bank SWIFT or other similar document which proves a foreign direct investment by the ultimate beneficial owner, legally admitted to Cyprus from abroad. In the case where the investment has not directly been made by the ultimate beneficial owner, the relation of the investor to the ultimate beneficial owner must be proved and documented.
7. Recent bank account statement with a remaining balance of at least €41.006 i.e. after the amount has been directly invested by the Cyprus Company (i.e. the remaining balance from the initial investment of €170.860).
8. Completed Analytical Statement of the Cyprus Company of Foreign Interests’ Personnel.
9. Title of office ownership or office rent agreement duly stamped. If the title of ownership has not been obtained yet, the applicant applying for Cyprus resident permit must submit the contract of sale duly stamped by the Stamps Commissioner and the Department of Lands & Surveys and proof of payments.
10. Where applicable, receipt of payment of the annual company fee to the Registrar of Companies
11. If the Cyprus Company is not new

– Audited financial statements (for Cyprus International companies already operating in Cyprus)

– Tax Clearance Certificate for the Cyprus company (for companies already operating in Cyprus)

– Proof of Levy Payment with the Cyprus Registrar of Companies (for companies already operating in Cyprus).

On behalf of the employee – Applicant applying for Cyprus resident permit requirements:

Before arriving in Cyprus:

1. Application form MBCS2
2. Application fee (Maximum of 400 Euros depending on the type of the application)
3. Copy of valid passport or another travel document with validity of at least two (2) years from the date of the submission of the application for the Cyprus work permit.
4. Brief Curriculum Vitae (CV) (including copies of academic qualifications)
5. Original letter of guarantee issued by a bank or cooperative institution in Cyprus covering possible repatriation expenses. The amount depends on the country of origin. (Maximum amount of 850 Euros)
6. Original blood analysis results 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) from the country of origin
7. Original Certificate of Criminal Record from the country of origin (if the person applying for Cyprus resident permit resides in a country other than the country of origin, the certificate should be issued from the country of residence)
8. Authorisation for payment by bank transfer Financial Information and Management Accounting System (FIMAS)

After arriving in Cyprus:

1. Copy of the passport’s or other travel document’s page of the person applying for Cyprus work permit showing the latest arrival in Cyprus and visa
2. Original Entry Permit (M70)
3. Original blood analysis results showing that the person applying for Cyprus work permit does not bear/suffer from HIV, syphilis, hepatitis B and C and a chest x-ray for tuberculosis (TB) certified from a Doctor in Cyprus
4. Title deed or rental agreement of a house/apartment dully certified by the relevant president of the community (mukhtar)
5. Certificate of Health Insurance for medical care that covers inpatient and outpatient care and transportation of corpse (Plan A)
6. Employer´s liability insurance with an automatic renewal
7. The original contract of employment between the Cyprus Company and the person applying for Cyprus work permit duly signed and two (2) copies duly stamped
8. Copy of Aliens Registration Card
9. A Letter accompanying the application addressed to the Cyprus Civil Registry and Migration Department summarizing all relevant documents collected and submitted.

Once documents have been collected all the relevant requirements together with the application are submitted to the Cyprus Civil Registry and Migration Department. The presence of the person applying for a Cyprus resident permit is necessary!

Other important notes

– 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), Cyprus temporary residence permits of Dependent Visitor may be issued. These family members can enter via a Cyprus visa and then apply to the Cyprus Civil Registry and Migration Department for obtaining a Cyprus temporary residence permit.

– It is emphasized that at the time of the application submission, the photograph, fingerprints, and signature of the person applying for the Cyprus resident permit will be captured by authorized personnel. For convenience purposes, the capturing of the above may take place up to one week after the submission of the application, at the District Units of the Aliens and Immigration Service of the Police, at the District of residence (for all Districts except Nicosia) by presenting the application submission receipt and a valid travel document. The application is not considered complete and cannot be processed further if these data are not captured

– No application is received from any person other than the employer or the third-country national or the sponsor, depending on the case, without presenting a duly certified authorization.

– Cyprus International Companies that meet the conditions mentioned above are entitled to employ third-country nationals in the following categories and at the following required respective remunerations.

+ Cyprus Companies’ directors or partners registered with the Cyprus Registrar of Companies and Official Receiver, general managers of branches and of mother companies of alien companies’ departmental managers. (Minimum acceptable gross monthly salary for Cyprus Companies directors is €3.872 per month, adjusted from time to time, depending on fluctuations in the Cyprus wage index).

+ Middle management executives, other key personnel, upper / middle management personnel, administrative, secretarial or technical staff. (Minimum acceptable gross monthly salary is between €1936 – €3871 per month. Amounts may be adjusted from time to time, depending on Cyprus wage index).

– The validity of the Cyprus work (resident) permit depends on the duration of the employment contract with the Cyprus International Company and can be up to two (2) years, with a right of renewal.

– Directors, middle management executives and other key personnel of the Cyprus Company may reside in Cyprus without a time limit, provided they hold a valid Cyprus temporary residence and Cyprus employment permit.

– All registered Cyprus International Companies that continue to employ third-country nationals must, once a year, between 30 March and 30 June, submit at the Cyprus Civil Registry and Migration Department an update of the following:

– Recent audited Company’s financial statements

– Tax Clearance Certificate issued by the Cyprus tax department for the Cyprus International Company

–  Cyprus Certificate of VAT clearance (where applicable).

– Proof of Levy Payment with the Cyprus Registrar of Companies.

Contact

For more information please contact

Email: info@pkf-nic.com

 

The authors expressly disclaim all and any liability and responsibility to any person, entity or corporation who acts or fails to act as a consequence of any reliance upon the whole or any part of the contents of this publication.

Accordingly no person, entity or corporation should act or rely upon any matter or information as contained or implied within this publication without first obtaining advice from an appropriately qualified professional person or firm of advisors, and ensuring that such advice specifically relates to their particular circumstances.

PKF Cyprus firms are member firms of the PKF International Limited network of legally independent firms and do not accept any responsibility or liability for the actions or inactions on the part of any other individual member firm or firms.