The Cyprus government has adopted criteria in relation to the assessment of applications for providing employment permits to third country (Non EU) nationals, who wish to be employed by Cyprus companies. According to these criteria, companies eligible to employ third country nationals on the island are limited to those which:

(1) Belong to groups with transparent ownership and sources of capital and whose ultimate shareholders are approved by the Civil Registry and Migration Department or to public corporations quoted on any recognized stock exchange,

(2) Operate from their self-contained office: a) located in suitable distinct premises, not part of a private residence or another office b) equipped with appropriate office and telecommunication facilities c) open during normal office hours and staffed with full time personnel and

(3) Comply with the condition of their permit and prove, on the basis of their annual financial statements, that they are continuously operating and they are financially sound and credit worthy.

Eligible companies may employ third country nationals in executive positions on the island.  The maximum number of such executives is three (3), unless the Director of the Civil Registry and Migration Department is persuaded that a greater number is justified. A third country national who wishes to be employed in an executive position on the island, must be at least 24 years old, have suitable qualifications and receive appropriate remuneration. The minimum acceptable annual salary for newly appointed executives is CYP24.000.  This amount may be adjusted annually by the authorities according to fluctuations in the salaries index.

For more details, see Regulations on Temporary Residence And Employment Permits for Third Country Nationals employed by Cyprus Companies/Enterprises of Foreign Interests