Third Country Nationals

Obtain a Temporary Residence and Employment Permit by Investing in the Share Capital of a Foreign Interest Cyprus Company

What is a Cyprus Foreign Interest Company?

Cyprus companies with foreign interest are companies duly incorporated in the Republic of Cyprus, with the majority of shares held by non-EU nationals

Check your Company’s Eligibility:

Companies of foreign interests must meet the following criteria to be eligible to employ third country nationals in Cyprus:

• Third country shareholders should own the majority of the company’s shares

• The ultimate beneficial owner must invest at least € 200.000 in Cyprus, for the purposes of operating the company.

• The establishment/ operation of independent offices in Cyprus, in suitable premises, separate from any private housing or other office, except in the case of business co-habitation.

Categories of employment

Directors (Category 1)

Includes:	Directors or Partners registered in the Registrar of Companies and Official Receiver General Managers of branches and of mother companies of alien companies Departmental Managers Project Managers
Salary:	€4.000 Minimum monthly gross salary

Middle management executives / key personnel (category 2)

Includes:	Upper / middle management personnel,Other administrative, secretarial or technical staff
Salary:	€2.000 Minimum monthly gross salary

SPECIALISTS (category 3)

Includes:

Software and System EngineersApplication and Data ArchitectsInformation and Communication Technology and Enterprise Solution ArchitectsTechnical Assurance ProfessionalsTelecom and Space EngineersData scientistsMachine Learning EngineersWeb Developers and designersUX User Experience Professionals1Quantitative AnalystsQuality Assurance AnalystsMobile Application DevelopersAugmented Reality/ Virtual Reality ProgrammersDigital Marketing SpecialistsVideo Production Multimedia Specialists for Mobile Apps and SoftwareAnalysts for Mobile Apps and SoftwareDesigners of Prototype for Mobile DevicesDevOps EngineersCyber Security SpecialistsArtificial Intelligence, Robotics and Big Data SpecialistsPharmaceutical Formulation TechnologistsPharmaceutical Engineer Validation SpecialistsPharmaceutical Patents SpecialistsPharmaceutical Regulatory and Quality Assurance ProfessionalsMarine Engineers Naval Architects

Salary:

€2.000 Minimum monthly gross salary

Support staff (category 4)

Includes:	All third country nationals not included in the above categories. Companies are expected to fill in positions in this category with Cypriot or European citizens. **If no qualified Cypriots or European citizens are available, a company may employ third country nationals in posts in this category at a rate of 30% of the total staff.
Salary:	Minimum salary not specified for this category

Exclusions

• Public companies registered in any recognised stock exchange
• Former offshore companies that were operating in Cyprus by approval of the Cyprus Central Bank, before the change of their offshore status.
• Cypriot shipping companies.
• Cypriot companies of high technology / innovation, that will be certified by the Deputy Ministry of Research, Innovation and Digital Policy based on the applicable framework.
• Cypriot pharmaceutical companies or companies operating in the fields of biogenetics and biotechnology.
• Persons who have acquired Cypriot citizenship by naturalization based on economic criteria, given that they will prove that the conditions under which they were naturalized are still met.

Family Members

Staff category 1-3 as mentioned above can apply for a family reunification.

More Information …

Please contact us at [email protected]

23, Stasinou street, 1st  floor, office 101, p.c. 2404, Engomi, Nicosia, Cyprus Tel : +357 22 256 265

E-mail:   [email protected] Website: www.totalpro.eu

DISCLAIMER: The content herein was prepared in accordance with the current regulations for the provision of guidance and information. The firm will not be held responsible for any claim, loss, damage or inconvenience caused as a result of relying on the information provided herein.