Live, work and own property in Cyprus
Cyprus is prominently featured in surveys and research on the list of countries that are best to operate, live, work or retire in. Its popularity stems from several factors, such as its stable economic environment, EU member state status, efficient taxation system, wonderful climate, good infrastructure, low cost of living, good airline connections and other.
As far as EU Citizens are concerned, obtaining a Cyprus residence permit that enables one to enter, live, work and operate in Cyprus involves only minimal formalities relating to simple registration if the purpose of residing in Cyprus is employed activity.
Non EU citizens need to acquire certain permissions in order to enter, live, work and operate in Cyprus. This can be done either by direct application for a Cyprus work permit or through the establishment of a local Cyprus limited company, which will then employ the non EU national, after being approved by the Migration Department.
Permits are also needed by non EU citizens in regard to the acquisition of immovable property.
Harris Kyriakides LLC provides professional services in regards to acquisition of residence permits, employment permits and property acquisition permits for non EU Citizens. In particular, we assist non EU clients to apply and acquire permits on the following grounds:
- Entry visas
- Short term and Long term Residence Permits (through acquisition of property in Cyprus or otherwise)
- Work Permits:
- Category C/D (persons who intend to work as self employed in a trade, profession or science in Cyprus).
- Category E (persons who have been offered work as executives (Cat. 1) or staff (Cat. 2) of Cyprus companies.
- Category F (pensioners or other persons who enjoy a secured annual income enabling them to live in Cyprus without having to engage in any business, trade or profession).
- Family reunification permits
Become a Cyprus citizen
- Property acquisition permits
Acquiring Cyprus citizenship entitles a person, amongst others, to live and work in Cyprus without any restriction as well as travel without any formalities within the European Union.
There are essentially 3 ways in which Aliens can acquire the Cyprus Citizenship: (a) by naturalization, (b) by exemption, and (c) through marriage to a Cyprus citizen.
- Obtaining Cyprus Citizenship by Naturalisation:
To be entitled to apply for Cyprus citizenship through naturalization, an EU citizen or third country national must have resided for a minimum 7 years legally in Cyprus, of which the year preceding the date of application should be full and uninterrupted.
- Obtaining Cyprus Citizenship by Exemption:
Since 2007, the Council of Ministers has decided on the criteria and conditions to grant Cyprus Citizenship by exemption to foreign investors/entrepreneurs. Eligible applicants need to have direct investments in Cyprus in the range of €25 million Euro or entrepreneurial activities through Cyprus companies with a total annual turnover in the range of €85 million in the year preceding the application year or personal deposits, or deposits by privately owned Cyprus companies controlled by the applicant, in Cyprus banks of over €17 million or combination of the above. In addition, the applicant has to own a private residence in Cyprus suitable for himself and his family.
Our professional team may undertake the full preparation, submission and presentation of the application for citizenship acquisition to the competent authorities.