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:
- (i) The majority of the company´s shareholders should be foreign shareholders and in the case of shareholders whose ultimate owners are foreign companies, they should be declared in order to be approved by the Civil Registry and Migration Department (CRMD). The following cases are exempted:
- Public companies registered in any recognized Stock Exchange;
- International companies (ex IBCs) that were operating before the change of regime and for which the Central Bank of Cyprus possesses all the necessary data;
- (ii) In case where the percentage of the foreign participation in the share capital of a company is equal or below the fifty percent (50%) of the total share capital, this percentage should represent an amount equal or higher than €171.000 in order for a company to be considered eligible
- For new companies it should be proved by banking and other documents that the direct foreign capital investment amounts at least €171.000 and it was brought in Cyprus legally form abroad.
- The companies should operate from their self-contained offices in Cyprus, which should be located in suitable distinct premises, not part of private residence or another office, except form cases of companies that share lodging. Cases in which the nature of the work allows people to work from their home will be examined.
Checklist for the Foreign Company.
Please refer to Appendix I for all the certificates/supporting documents required concerning the Company.
B. EMPLOYEE CLASSIFICATION
Eligible companies which fulfil the above conditions may employ third country nationals in the following positions. Companies should not commit themselves to employing third country nationals for all the following positions before securing a Temporary Residence and Employment Permit form the CRMD. In case of violation of these rules, the CRMD is not committed by the following provisions
The term “Executive Directors” includes third country nationals registered as:
The maximum number of such executives is five (5) unless the CRMD is persuaded that a greater number is justified.
The abovementioned staff includes Directors who are not considered to be Executive Directors as well as other Executive/Middle-management staff or other managerial, clerical or technical personnel with a monthly salary ranging from €1936 to €3871. The amounts may be adjusted from time to time according to fluctuations in the salary index.
The maximum number of these employees permitted in this category is ten (10).
The CRMD has the discrete authority to decide on the employment of more than 10 people in justified, depending on each company´s operation data. In the case that the total maximum number is exceeded, the company should justify the necessity of the employment of third country nationals, taking into consideration the payments as well as-
There are no restrictions for the residence period of these employees.
Checklist for Executive Directors
Please refer to Appendix II for all the certificates/supporting documents required concerning this category.
All third country nationals employed in other professional, managerial, technical, clerical etc. positions in Cyprus and do not fall under the abovementioned categories (a) and (b), are classified in the remaining supporting staff.
Companies are expected to employ Cypriots or European citizens for this category. In case that there are not available or suitable Cypriots or European citizens with the required qualifications, a company may employ third country nationals in positions of this category, following the procedure and submitting all the certificates/supporting documents described in the list of accompanying documents after an affirmative decision (stamp of contact) is ensured by the Labour Department.
- Executive Directors
- Consulting Directors or Partners (in the Registrar of Companies)
- General Managers of branches and subsidiary foreign companies
- Departmental managers
- The minimum acceptable monthly salary for a newly appointed Executive Director is €3872 and above per month. This amount may be adjusted from time to time according to fluctuations in the salary index. There are no restrictions for the residence period of these employees.Checklist for Executive Directors
Please refer to Appendix II for all the certificates/supporting documents required concerning this category.
- Middle-Management Staff, Executive Staff and other key personnel
- The scope of the company´s activities
- The proportion of foreigners to Cypriots and
- The duration of the company´s operation
- Supporting Staff
C. EMPLOYEE’S BIOMETRIC FEATURES
According to article 18ΦΕ(7) of the Aliens and Immigration Law (Cap.105), the temporary residence and employment permits that will be issued to third country
nationals of the above category will be of a uniform format (card) and must include the biometric features of their holder (fingerprints and photograph) as well as his/her signature.
In view of this, when submitting an application, the physical presence of the third country national is required, in order to receive his/her biometric features (fingerprints and photograph) and his/her signature. If the application is submitted for an entry permit, after the granting of the entry permit and the arrival of the third country national in the Republic, he/she must register at the CRMD within seven (7) days of his/her arrival and provide his/her biometric features (photo and fingerprint) and signature.
The captured fingerprints cannot be used for any purpose other than the issuance of the residence permit and its review for person identification purposes by the Cypriot or other foreign authorities, authorised by the Director. The captured fingerprints are deleted from the Aliens’ Register 48 hours after the issuance of the residence permit.
D. DULY CERTIFIED DOCUMENTS REQUIRED
Documents of original certificate of Good Character, Original Health Certificate, Marriage Certificate, Birth Certificate and required to be duly certified by the country of origin.
There are two ways to have a document duly certified:
- In the cases where the issuing country of the document has signed the 1961 Haque Conversion an Apostille (document of stamp) is sufficient.
- Otherwise, in order for the document to be accepted is required to:
- Bear a stamp from the Ministry of Foreign Affairs of the issuing country.
- Have the aforementioned stamp certified by the Diplomatic Mission of the country in the Republic or that is accredited in the Republic or
- Have the fore mentioned stamp certified by the Diplomatic Mission of the Republic in the country of origin or that is accredited in the country of origin.
E. APPLICATION FEES
Please refer to Appendix III for all the fees payable to the governmental authorities.
APPENDIX I – DOCUMENTS REQUIRED FROM THE EMPLOYER/COMPANY
If the Company is new (meaning that this is the first time that the company applies for employment of third country nationals), the following Required Documents must be submitted, regarding the company:
- Certificate of Incorporation (ORIGINAL AND STAMPED BY THE REGISTRAR OF COMPANIES)
- Certificate of Registered Office (ORIGINAL AND STAMPED BY THE REGISTRAR OF COMPANIES)
- Certificate of Directors (ORIGINAL AND STAMPED BY THE REGISTRAR OF COMPANIES)
- Certificate of Shareholders (ORIGINAL AND STAMPED BY THE REGISTRAR OF COMPANIES)
- Memorandum and Articles of Association (ORIGINAL AND STAMPED BY THE REGISTRAR OF COMPANIES)
- Profile describing the nature of the company´s business and details of its operations
- List with the names, full addresses, passport numbers and nationality of the initial shareholders of the applying company. This is not required by companies registered in any recognized Stock Exchange and International Companies which were operating before the change of regime and for which the Central Bank of Cyprus possesses all necessary data.
- List of Company’s personnel (applicants and employees)
- Bank account with the amount of at least €41.006
- Domicile deed title of lease agreement or contract of sale and purchase of the offices in Cyprus. If these documents are not available when the application is submitted, then they should be brought to the Civil Registry and Migration Department within three (3) months from the day of the application
- Deposited amount €170.860 which can be proved by banking and other documents that the direct foreign capital investment amounts at least €170.860 and it was brought in Cyprus legally from abroad.
In case where the percentage of the foreign participation in the share capital of a company is equal or blow the fifty percent (50%) of the total share capital, this percentage should represent an amount equal or higher than €170.860 in order for a company to be considered eligible. Applications by companies that deal with offering services or consulting services that invest capital lower that €170.860 will be examined given the fact that the nature of their work does not require a higher capital investment.
APPENDIX II – DOCUMENTS REQUIRED FROM EMPLOYEE
DIRECTOR & KEY PERSONNEL & SUPPORT STAFF
ENTRY PERMIT, REGISTRATION AND FIRST TEMPORARY RESIDENCE PERMIT
|BEFORE THE ARRIVAL OF THE THIRD COUNTRY NATIONAL|
|1||Copy of valid passport or other travel document with validity of at least two (2) years from the date of the submission of the application.|
|2||List of Company´s third country personnel per category [Directors and Middle Management Staff /Key Personnel]|
|3||Brief Curriculum Vitae (CV) (including copies of academic qualifications)|
|4||Original letter of guarantee issued by a bank or cooperative institution in Cyprus with validity of 10 years covering possible repatriation expenses. The amount depends on the country of origin.|
|5||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-rays for tuberculosis (TB) from the country of origin|
|6||Original Certificate of Criminal Record from the country of origin (if the applicant resides in a country other than the country of origin, the certificate should be issued from the country of residence)|
|7||Receipt of payment of the annual company fee to the Registrar of Companies|
|8||Authorisation for payment by bank transfer (FIMAS)|
|AFTER THE ARRIVAL OF THE THIRD COUNTRY NATIONAL|
|9||Copy of the passport’s or other travel document’s page showing the latest arrival in the Republic and visa|
|10||Original Entry Permit (M70)|
|11||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-rays for tuberculosis (TB) from a Government Hospital of the Republic or duly certified by a Government Doctor of the Republic|
|12||Title deed or rental agreement of a house/apartment dully certified by the relevant president of the community (mukhtar)|
|13||Certificate of Health Insurance for medical care that covers inpatient and outpatient care and transportation of corpse (Plan A)|
|14||Employer´s liability insurance with an automatic renewal|
|15||Original contract of employment dully signed and two (2) copies dully stamped|
APPENDIX III – APPLICABLE FEES (AS ON AUGUST 2016)
|COMPANY OF FOREIGN INTERESTS
(DIRECTOR, MIDDLE MANAGEMENT-KEY PERSONNEL, SUPPORT STAFF)
|APPLICATION TYPE||REQUESTED YEARS
OF RESIDENCE PERMIT
|1||Issue of an Entry Permit, Registration and Issue of a Temporary Residence Permit||1||270|
|2||Issue of an Entry Permit and a Temporary Residence Permit (ARC exists)||1||200|
|3||Issue of a Temporary Residence Permit and Registration||1||200|
|4||Issue of a Temporary Residence Permit and Registration (Temporary Residence Permit already paid)||—|
|5||Issue of a Temporary Residence Permit (ARC exists)||1||130|
|6||Renewal of a Temporary Residence Permit (ARC exists)||1||130|
|7||Renewal of a Residence Permit due to Change of Employer (ARC exists)||1||130|