Residence And Work Permits

In an attempt to encourage business people to set up their headquarters in Cyprus the government authorities at present are promoting a policy with certain legal requirements that are applicable to non-EU shareholders, allowing them to establish their businesses in Cyprus, while at the same time obtaining their residency and work permits. Family members are also permitted to join the programme through the family reunification scheme.

Residence and work permits can be granted to non-EU staff in companies with foreign interest. Such companies are Cypriot companies that are incorporated within the Republic of Cyprus in which the majority of the shares are held by non-EU nationals. Companies with foreign interest may be up to 100% owned by non-EU nationals. The operation of a company from Cyprus provides many advantages as it is considered very safe, it is a member of the EU and provides a simple tax system with business-friendly tax rates. The fact that it enjoys