As of the 27th May 2022, the Council of Ministers of the Republic of Cyprus has approved new Regulations governing immigration permits which can be granted to individuals coming from 3rd countries (non-EU), as follows: Aliens can be employed or reside in Cyprus, when they have an insured income of €40,000 per year, privately owned...Read More

As of the 11th May 2022, the Ministry of Labour and Social Insurance of the Republic of Cyprus, in exercising its powers under paragraph (1) of Article 24 of Foreigners and Immigration (entry conditions and residence of third country nationals with the purpose of search, studies, practice, volunteer service, student exchanges of educational programs) Law...Read More

The Cyprus Digital Nomad Visa Scheme was introduced in Cyprus with effect from October 15, 2021, pursuant to the decision of the Council of Ministers. Central to the new Scheme’s goals is, the strengthening and promotion of Cyprus as a hub for the provision of digital and electronic services and, in achieving this, contributing to...Read More

The following new circular which was issued by the Tax Authorities in Cyprus in early 2022, provides additional guidance and clarity as to the tax residency according to the legal provision of the 60-day stay in the Republic of Cyprus, under the Income Tax Law, Article 2. Application of the 60-day rule for obtaining tax...Read More

As on the 15 October 2021 the Cyprus government presented its Action Plan for attracting companies to operate or expand their activities in Cyprus, in an attempt to make the island a Sustainable Business and Trade Centre of the broader region and Europe. The new tax incentive strategy has been prepared in a manner consistent...Read More

Working from Home Abroad – Employers’ Considerations Introduction With the recent shift in the work environment forced upon the globe under the COVID pandemic, we have seen a vast and swift change in the status quo as people were compelled to work remotely from home. In this historic shift, with both employees and employers realizing...Read More

On the 13th October 2020 the Council of Ministers has decided to proceed with the Termination of the Cyprus Citizenship Scheme, citing reasons of weakness into the review and due diligence system and various loopholes which potential investors took advantage of. The above decision shall come into force as of the 1st November 2020. Any...Read More

The Law Firm of G. Vrikis & Associates LLC has been representing numerous clients in their application for Permanent Residence Permits in Cyprus. The below is a brief outline of the key provisions and documentation required for such an application to proceed further. The Permanent Residence Permit – Regulation 6(2), is targeted to individuals who...Read More

Following the decisions of the Council of Ministers dated 13th September 2016 and 21st May 2018 as amended on 13th February 2019 and 6th May 2019, the Cyprus Investment Programme (the “Programme”), which is available to non-Cypriot investors who want to invest in Cyprus wishing to acquire Cypriot citizenship, has been revised. At present, the...Read More

A. ELIGIBLE COMPANIES All companies of foreign interests, including international companies (ex-IBCs), in order to be eligible to employ third country nationals in Cyprus, should fulfil the following:Read More