The revised Cyprus Investment Programme (CIP) is put into effect from the date of its publication in the Government Gazette (that is the 26th of February 2019) and it relates to all CIP applications submitted after the 15th of May 2019.
Changes in the Cyprus Investment Programme (“CIP”)
Employment of non-EU nationals in Cyprus- Standard Procedure
The Department of Labour examines applications from employers for the employment of foreigners, for the satisfaction of pressing, short term needs in the labour market, in certain economic fields and occupations according to the Ministerial Council’s decision No. 33.210 dated 15/3/1990.
Obtaining a Cyprus temporary residence permit (Pink Slip)
This permit is the perfect solution for persons who wish to prolong their stay in Cyprus for more than 3 months (90 days). This type of permit is valid for 1 year and can be renewed on an annual basis. Under this permit, a person is allowed to live in Cyprus on a temporary basis and also bring his close family members to live with him.
Cyprus Long -Term Residence Permits
A Long-Term Residence Permit is granted to individuals who have resided legally and continuously within the controlled areas of the Republic for 5 years prior to the submission of the relevant application and posses valid residence permits.
Brexit: How can UK nationals maintain their EU citizenship status?
The UK’s immigration policy is currently in a state of flux due to the referendum decision of 23.06.2016 by which the UK public voted to leave the EU.
Acquisition of Cypriot citizenship due to Cypriot origins
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 EU.
Registration certificates of EU Citizens and their family members in Cyprus
Registration of EU citizens in Cyprus
EU Citizens are free to enter, leave, travel and live in Cyprus and may also engage in any economic activity, either as paid employees or self-employed persons, service providers or engage in any educational opportunity in Cyprus, under the same conditions as Cypriot citizens.
Acquisition of Cyprus citizenship (naturalization by exception) by investment
The Cyprus Council of Ministers has revised and approved the “Scheme for naturalization of Investors in Cyprus by exception” in order to attract foreign investment in Cyprus.
Cyprus citizenship by marriage
Such applications may be submitted by foreign spouses of Cypriot nationals who have completed 3 years of marriage and harmonious cohabitation with the Cypriot spouse and two years of residence in Cyprus prior to the date of application (for spouses of overseas Cypriots please see below).
Revision of criteria for granting residence permits (Regulation (2))
“Dependent persons” of the applicant
The term “Dependent persons of the applicant” has been reviewed to include the following:
Changes to Cyprus Temporary/Long-Term Residence Permits and Immigration Permits
Introduction of a card and procedural amendments
The changes and procedural amendments affect ONLY those who have applied for residence or an immigration permit and their application is still pending examination as at 08.02.2016.
Residence & Citizenship by investment programs- A comparison of various EU jurisdictions
Acquisition of Cypriot citizenship by investment
As a part of its policies aiming to attract foreign investors in Cyprus, the Council of Ministers on 19.3.2014 revised the “Scheme for naturalization of Investors in Cyprus by exception” and established the new financial criteria based on which Cypriot citizenship may be acquired.
Ways to apply for Cyprus citizenship
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 EU. There are essentially 4 ways in which an alien can acquire Cyprus Citizenship: (a) by naturalization, (b) investment by exemption, (c) through marriage to a Cyprus citizen, and (d) due to Cypriot origins.
Work permits for third country nationals - employees at International Companies
All companies of foreign interests, including international companies (ex-IBCs), in order to be eligible to employ third country nationals in Cyprus, should fulfil the following criteria.
Residence permits in Greece for Foreign (Non-EU) Investors
Law 4146/2013 gives the opportunity to foreigners who intend to invest in Greece. Such residence permits are available to foreign (non-EU) natural persons (the Applicants) and the members of their family or legal persons in which such natural person(s) is the sole shareholder.
Criteria for granting Cyprus residence permits (Regulation 6(2))
According to the provisions of Regulation 6(2) of the “Aliens and Immigration” Regulations, third country applicants must fulfil the following criteria in order to be able to apply for such immigration permit:
Documents required for the application of permanent residence permit in Cyprus
Permanent residence does not require the applicant to renew his/her residence permit in Cyprus every year, as the name suggests. Furthermore, Schengen countries grant travelling visas with more ease and flexibility once such permit is issued.
Permanent residence permits to third country nationals (Category F)
Permanent residence in Cyprus is available to non-EU nationals under Category F residence permit. Holders of such permit should not work in Cyprus or engage in any kind of business in Cyprus. This kind of permit is also granted to the spouse and children under the age of 18 of the holder under certain circumstances.