Non – EU citizens can be eligible for the employment in the Republic of Cyprus providing if they are employed at the foreign entities. The scope of “foreign entities” refers to the instances where:
- Non-EU shareholders should own the majority of the company’s shares (more than 50%);
- Foreign direct investment of capital amounting to at least €200.000, legally admitted to a Cyprus bank account from abroad and could be confirmed by SWIFT transaction. This amount can be used for company’s activities.
Most importantly, this type of visa, contrary to Temporary Residential Permit or Permanent Residential Permit, allows a third country national to be engaged in the employment activities in the Republic of Cyprus or the company owners to employ themselves in the positions of Directors.
If a company satisfies the above requirements and qualified as a company with foreign interest, then it may recruit the main following categories of the third – country nationals:
Senior Management – Directors, General managers, Heads of Departments, Project;
Managers (the gross monthly salary needs to be not less than 4000EUR and more);
Middle Management – Upper / middle management personnel, Other administrative, secretarial or technical staff ( the gross monthly salary needs to be not less than 2500EUR and more);
Specialists (the gross monthly salary needs to be not less than 2500EUR and more)
To note, also the family members of such employees will be granted with the right to reside in the Republic of Cyprus, providing that if, in case of spouses, the marriage has been registered for 12 months.
If an employee is not currently in Cyprus, then he needs to obtain firstly the Entry Permit issued by the Immigration authorities in Cyprus to arrive in the Republic and subsequently apply for the Alien’s Registration Certificate.