IMMIGRATION LAW

Immigration Services

We have been trusted by businesses and families from all around the world on matters relating to migration and residency in Cyprus.

Some of the Immigration Services we offer are the following:

  • Registration of EU Nationals (Yellow Slip)
  • Temporary Residency Permit for Non-EU Nationals (Pink Slip)
  • Permanent Residency Permit (Slow & Fast Track)
  • Foreign Interest Company Licence & Employment of Non-EU Nationals
  • Digital Nomads Visa

 

EU Nationals who wish to reside in Cyprus for more than 90 days, need to register with the Migration Department in Cyprus and obtain the so-called “Yellow Slip”.

The application for a Yellow Slip will need to be submitted within 4 months from the date of entry into the Republic of Cyprus.

*The information above is intended for informative purposes only and does not constitute legal advice. M.Paraschou & Co LLC does not accept any responsibility for any loss or damage of any nature occurring due to reliance on this information.

Non-EU Nationals who wish to remain in Cyprus for an extended period of time, may apply for a Temporary Residency Permit under Visitor status.

A Temporary Residency Permit grants Non-EU Nationals the right to reside in Cyprus as of the time of the filing of the relevant application and allows its holders to travel freely in and out of the country without having to apply for a Visa or an Entry Permit.

Applicants need to provide evidence of a personal steady income of funds, generated in a country other than Cyprus, sufficient to support the cost of living of their family in Cyprus. Other requirements include renting or owning a residential property in Cyprus and holding a valid Cyprus or International Health Insurance Policy.

Although Non-EU Nationals may not engage in any form of employment under the Visitor Status, they may receive dividends from any profits generated by Cyprus companies in which they hold shares.

A Temporary Residency Permit is issued for a 1-year period and may be renewed repeatedly.

*The information above is intended for informative purposes only and does not constitute legal advice. M.Paraschou & Co LLC does not accept any responsibility for any loss or damage of any nature occurring due to reliance on this information.

Non-EU Nationals who wish to relocate permanently to Cyprus, may apply for a Permanent Residency Permit. The Ministry of Interior of Cyprus has introduced a fast-track procedure which allows for the expedited examination of Permanent Residency Permit Applications by Non-EU Nationals.

The spouse of the Applicant and any underage or dependent children may also obtain a Permanent Residency Permit under this scheme.

The Fast-Track mechanism requires that Applicants invest at least €300,000 (plus VAT) in one of the following categories:

  1. Investment in a residential property
  2. Investment in real estate (other than residential property)
  3. Investment in the share capital of a Cyprus company with activities and physical presence in Cyprus
  4. Investment in shares of Cyprus Investment Organization Collective Investments (type AIF, AIFLNP, RAIF)

For investments in real estate, the relevant Sale and Purchase Agreement will need to be deposited with the District Land Registry Office and an amount of at least €200,000 plus VAT out of the purchase price must be paid before the submission of the Permanent Residency Application.

Applicants will need to provide evidence that the capital invested was channelled from sources abroad and demonstrate a secured annual income of at least €30,000 from sources other than employment in Cyprus. The minimum annual income is increased by €5.000 for each dependent family member.

Before concluding an agreement for the purchase of a real estate, feel free to contact us to confirm whether the real estate is suitable for the Fast Track Application mechanism.

*The information above is intended for informative purposes only and does not constitute legal advice. M.Paraschou & Co LLC does not accept any responsibility for any loss or damage of any nature occurring due to reliance on this information.

Non-EU Nationals may use the Slow Track mechanism to obtain a Permanent Residency Permit in Cyprus. The spouse of the Applicant and any underage or dependent children may also obtain a Permanent Residency Permit under this scheme.

Unlike the Fast-Track mechanism, no investment is required and Applicants may rent a house or an apartment instead. It should be noted, however, that the purchase of real estate or an investment in Cyprus will count positively during the examination of the application.

Applications may take up to 2 years to be examined. During this time, Applicants do not have the right to reside in Cyprus.

The Permanent Residency Permit does not grant its holder the right to engage in any form of employment in Cyprus. For this purpose, Applicants need to demonstrate that they have a personal steady income from sources out of Cyprus, enough to cover the expenses of their family in Cyprus.

Successful applicants must move their permanent residence to Cyprus within a year after the Permanent Residency Permit Application is approved. If they fail to do this or they are absent from Cyprus for a period of two consecutive years, the Permanent Residency Permit will be revoked.

*The information above is intended for informative purposes only and does not constitute legal advice. M.Paraschou & Co LLC does not accept any responsibility for any loss or damage of any nature occurring due to reliance on this information.

Companies registered in Cyprus may apply for a Foreign Interest Company Licence which will grant them the right to employ up to 70% of their employees from Non-EU countries, without having to obtain the prior approval of the Ministry of Labour.

Eligible for this scheme are companies that are registered in Cyprus (whether newly established or existing companies), with the majority of their share capital owned by Non-EU Nationals.

The Ultimate Beneficial Owner needs to invest an amount of €200,000 in the Company, or make an investment for the purposes of the Company (such as purchase of office space and/or office equipment) of the same value.

Applicant companies need to maintain an office in Cyprus and be up-to-date with their tax, compliance and regulatory filing obligations.

Family members of an employee employed by a Foreign Interest Company may also relocate to Cyprus, with spouses having immediate and free access to the labour market.

*The information above is intended for informative purposes only and does not constitute legal advice. M.Paraschou & Co LLC does not accept any responsibility for any loss or damage of any nature occurring due to reliance on this information.

This new scheme has been introduced by the Cyprus Government and targets self-employed or employed Non-EU Nationals who wish to live in Cyprus and work remotely using information and communication technologies to communicate with their foreign employers or clients abroad.

A Digital Nomad Visa is granted for a period of 1 year, with the option to be renewed for 2 more years. To qualify for this scheme, Applicants need to provide evidence that they have sufficient funds to cover their living expenses during their stay in Cyprus, with a minimum monthly net income of €3,500. 

Holders of a Digital Nomad Visa may be accompanied by their family members, to whom a residence permit may be also granted. 

*The information above is intended for informative purposes only and does not constitute legal advice. M.Paraschou & Co LLC does not accept any responsibility for any loss or damage of any nature occurring due to reliance on this information.

Contact Us

Receive the latest news

Subscribe to our newsletter

Sign up for the monthly newsletter and never miss an update.