FOREIGN INTEREST COMPANIES REQUIREMENTS

Cyprus provides an attractive framework for companies with foreign participation wishing to establish operations in the Republic and employ third-country nationals.

Eligible companies that satisfy the applicable requirements of the Cyprus authorities may employ third-country nationals in key positions, subject to the relevant immigration and labour legislation.

General Requirements

To qualify under the applicable framework, a company is generally required to satisfy certain conditions, which may include:

• Demonstrating the required level of foreign participation or investment, in accordance with the applicable government policy.
• Maintaining genuine business operations and an effective presence in Cyprus.
• Operating from suitable business premises in Cyprus.
• Complying with all applicable immigration, employment, tax and corporate requirements.

The competent authorities may request additional information or documentation depending on the nature of the company’s activities.

Categories of Personnel

Eligible companies may employ third-country nationals in the following categories:

• Senior Management and Executive Directors;
• Middle Management and Key Personnel; and
• Support Staff.

Senior Management and Executive Directors

This category generally includes senior executives responsible for the strategic management and operation of the business, including Executive Directors, General Managers, Branch Managers and other senior management personnel.

Middle Management and Key Personnel

This category includes managerial, executive, technical and specialised personnel whose qualifications, experience or expertise are necessary for the company’s operations.

The number of employees permitted under this category is subject to the applicable government policy and may be increased where justified by the operational requirements of the business and approved by the competent authorities.

Support Staff

Support staff comprise employees engaged in administrative, clerical, technical and other supporting functions.

Employment of third-country nationals in this category is generally permitted only where the employer demonstrates that suitably qualified Cypriot or European Union nationals are not available to fill the relevant position and all applicable labour market requirements have been satisfied.

Our Services

Oxford advises companies throughout the entire process of establishing operations in Cyprus and obtaining the necessary approvals for the employment of third-country nationals. Our services include:

• Company formation and corporate structuring;
• Registration under the applicable business facilitation framework;
• Preparation and submission of immigration and employment permit applications;
• Liaison with the competent government authorities;
• Ongoing immigration, corporate and compliance support.