Based on the Aliens and Immigration Regulation 14, the third – country nationals, who obtain the temporary residential permit in the Republic of Cyprus as visitors, are not allowed to engage in any employment and business activity.
Moreover, as from 01/01/2023, The Department of Register of Companies of Cyprus may disclose information about third country nationals who serve as directors, shareholders, or secretaries in CY companies to immigration authorities upon request. It has become common during application reviews.
If the third country nationals are engaged in business and employment activity in the Republic of Cyprus, the temporary permit is automatically cancelled and the person may face with the possibility to be included in the black stop list. Only under the special permission from Immigration, those, who apply for Category F or Category 6.2 (Accelerated Category for investment), may be holding shares in their companies or be non-remunerated directors.
In any other cases, either employment visa or visa of the employee of foreign interest company is the most applicable type of a residential permit for those who plan to be economically active in Cyprus.