Many people are thinking about relocating to Europe - businessmen, couples, students, and freelancers.
One of the most popular jurisdictions for this in 2024 is Cyprus.
It is warm, beautiful and safe. There is no language barrier - every second person speaks English. The legislation does not limit the possibility of employment of foreign citizens. Following all bureaucratic procedures, you can safely open your own business and develop on the island.
To date, there are several ways to move to Cyprus. Let's consider the simplest and most obvious among them.
Work Permit
Only Cypriots and EU/EEA citizens and their family members have the right to work in Cyprus without a visa. Third-country nationals are required to have a permit that allows them to work in the country for a certain period. For this purpose, they need to find a job and obtain a Work Permit. Preferably before coming to the island.
Work Permit is intended for people who work in international companies. It is a temporary residence permit tied to a certain employer. In particular, it is the employer who deals with the issuance of a work visa for the employee and his family members. Usually, the validity period of a work visa is from one to two years. In case of dismissal of the employee, the work visa is canceled.
The basic set of documents to be submitted to the Cyprus Migration Department include:
- An application in the form provided on the Migration Department's website.
- A copy of a valid passport with a validity period on the date of application of at least six months after the end of the employment contract (the minimum validity period of the document is 12 months). When applying, it is obligatory to present the original passport for verification.
- A copy of the passport page showing the last arrival in Cyprus and entry visa.
- Resume of the employee (including copies of diplomas and documents proving professional work experience of at least two years).
- Original employment contract for at least two years signed and stamped by the employer, as well as two copies of the employment contract certified by the employer. It should be taken into account that the minimum monthly salary for highly qualified work is set at 2.5 thousand euros. If the salary level is lower, such a contract must be certified by the Ministry of Labor.
- Application of the employer to cover the costs of the return of the third-country national.
- Original certificate of criminal record from the country of citizenship (if the applicant resides in a country other than the country of citizenship, such certificate must be issued in the country of residence).
- Original certificates of results of medical tests carried out in Cyprus, certifying that the third country national is not a carrier of and does not have HIV, syphilis, hepatitis B and C, and tuberculosis. In the case of relocation on an entry visa issued by the employer, these tests will have to be taken twice: in the country of relocation and in Cyprus.
- Proof of ownership or rental agreement for a house/apartment.
- Certificate of Health Insurance covering inpatient and outpatient treatment and transportation of the body (Plan A), or a certificate of registration in the GESI General Health Care System and private insurance for transportation of the body.
- Employer's liability insurance, with automatic renewal.
- A document verifying payment of the application processing fee.
It is important to note that in case there is no mutual agreement between Cyprus and the country of issue of the documents for their recognition, these documents must be apostilled.
Visitor Visa
Visitor Visa is a temporary residence permit for citizens of non-EU countries. It gives the right to reside on the island with the possibility of extension but without the right to work. It also allows you to receive income from other countries. Third-country nationals with a stable and sufficient income from abroad are eligible to apply for a residence permit in visitor status. The term "sufficient income" means a minimum deposit amount of 10 thousand euros for each adult and 5 thousand euros for each minor child per year. These amounts, confirmed by bank statements, are considered sufficient to live in Cyprus for one year without negatively affecting the economy of the country. The Visitor's residence permit is issued for a maximum period of 1 year, with the right of extension.
The basic set of documents to be submitted to the Cyprus Migration Department to obtain a Visitor's Visa includes:
- A copy of the applicant's passport, with an expiration date of at least 3 months.
- A copy of the passport page showing the last arrival in Cyprus and the corresponding visa.
- Original letter of guarantee issued by a bank or cooperative institution in Cyprus, valid for 10 years, covering possible repatriation costs. The amount depends on the country of origin.
- Certificate of health insurance providing for inpatient and outpatient care as well as transportation of the body (Plan A).
- Original and a copy of the applicant's marriage certificate (if applicable) - the original will be returned.
- Real estate title or lease agreement for a residential house or apartment, duly certified by the mukhtar.
- Documents proving stable or sufficient income received from abroad. For example, bank statements from a bank account in Cyprus with a minimum deposit amount of 10 thousand euros for each adult and 5 thousand euros for each minor child.
- SWIFT, confirms the transfer of funds received from abroad issued by a Cypriot bank.
- IBAN certificate issued by a Cyprus bank.
All documents issued abroad must be translated into Greek or English and apostilled.
Digital Nomad Visa
Digital Nomad Visa is issued to freelancers. It does not matter whether you work for one company or provide services to several customers at once. Your profession is also unimportant - IT specialist, lawyer, journalist. If you can make money from anywhere in the world, you are a digital nomad. The point of the program is that the Cypriot authorities thus attract foreign income to their country and create comfortable conditions for nomads to live and work.
A couple of years ago, few people knew about the concept of "digital nomad", but today everyone understands that this is a way of life and a kind of philosophy, when "remote" allows you to earn a decent income while being mobile and not tied to a particular country and workplace.
To qualify for a nomad visa in Cyprus, you need to meet several criteria:
- Not have EU or European Economic Area (EEA) citizenship;
- work in a company that is based outside the island or provide services to clients abroad;
- earn at least 3.5 thousand euros per month (the amount "on hand", without taxes and other deductions) and be able to confirm this with bank statements;
- work remotely (spheres are not limited in any way).
The main advantages of Digital Nomad Visa in Cyprus:
- you can stay in the country for 1 year (with the possibility of extending this period for another 2 years);
- you do not have to pay taxes until 183 days of residence on the island during one calendar year, after that taxes will be charged (if you are not a tax resident of another country);
- family members of the Digital Nomad Visa holder can also legally reside with him/her on the island.
The basic set of documents to apply for a Digital Nomad Visa is:
- A copy of the applicant's passport, with at least 3 months validity.
- Two photographs.
- Questionnaire and application form (access to the necessary forms is available on the official website of the Migration Service of Cyprus).
- Proof of remote worker status (employment contract with an employer or, in case of self-employment, a service contract).
- Proof of income in the form of a bank statement or payment documents confirming the monthly level of income.
- Certificate of no criminal record.
- Medical certificate.
- Medical insurance.
- Housing ownership document or rental agreement.
All documents submitted to the Migration Department of Cyprus for a residence permit must be certified and translated into Greek or English.
Student Visa
To obtain this type of residence permit, you must be enrolled in a Cypriot university or enrolled in an English or Greek language course. The first thing to consider when considering the option of obtaining a residence permit based on a national student visa is the duration of the chosen educational program. The Student Visa is a temporary residence permit that is issued for the duration of study and is extended for one year after graduation so that the graduate can find a job and obtain a Work Permit.
Advantages of a Student Visa in Cyprus:
- permission to reside 365 days a year in Cyprus,
- unimpeded entry and exit from the country,
- free movement within the Schengen area,
- right to work (part-time employment).
To apply for a student visa at the Cypriot consulate you need to provide:
- confirmation of enrollment in a university,
- confirmation of enrollment in accredited language courses,
- motivation letter,
- birth certificate (original) and its translation into English or Greek,
- medical insurance,
- proof of accommodation in Cyprus,
- completed application form.
Business immigration (visa category C)
Category C visa is a residence permit available to owners of international companies registered in Cyprus, who have invested an amount of approximately 260 thousand euros as capital for the company. The visa is valid as long as the holder is the owner of the company.
As for the applicant's family members, the spouse and children under the age of 18 can also obtain such a visa. The spouse is granted it for an unlimited period, and the children until they reach the age of 18.
Required documents for issuance of C category visa:
- Passport of the applicant and family members.
- A valid temporary residence permit.
- Cyprus Alien Registration Card or ARC (Alien Registration Certificate).
- Applicant's curriculum vitae (including academic qualifications).
- Health insurance policy for the applicant, wife, and children.
- Original criminal record certificate for the applicant and his wife (official and certified translation).
- Current bank statements in Cyprus and abroad.
- Original employment contract, duly certified and stamped.
- Original rental agreement for a property in Cyprus duly certified and stamped.
- Original income tax certificate for all years (Form I.R.25).
- Social Security statement showing contributions for all years.
- SWIFT from a foreign bank and Cyprus bank declaration of the amount of money that the applicant has personally transferred from abroad.
Documents proving business activities in other countries and income (if applicable).
Purchase of real estate (F visa)
The fastest and most reliable way to settle in Cyprus - to buy a residential house, apartment or commercial property worth more than 300 thousand euros and get a permanent residence permit in Cyprus under an accelerated program in just 3-6 months. Alternatively, for this amount you can buy a couple of new apartments or a couple of small houses, or a residential property and commercial premises up to 250 m2, suitable for an office. The property purchased in this way can be rented out through a management company and thus receive a steady income.
It is important to note that the F visa does not imply that a person is obliged to reside in Cyprus permanently. He simply has the right to do so. Many holders of this status do not live on the island, but in order not to lose the visa, come to Cyprus at least once every two years. As for the employment of F visa holders, the same rules apply here as for holders of residence permits - the right to work such visas do not give. But they allow you to open your own business and earn money as a shareholder (not a director). For employment in any case it is necessary to obtain the appropriate authorization from the Migration Service.
The main conditions for obtaining a visa under the accelerated program through the purchase of real estate:
- provision of a certificate of absence of a criminal record;
- confirmation of income of 50 thousand euros per year for the applicant (the amount is increased by 15 thousand euros for a spouse and 10 thousand euros for a minor child);
- purchase of primary real estate (the cost of housing must be more than 300 thousand euros + VAT).
The applicant is required to provide documents according to the approved list:
- Confirmation of the fact of transfer of funds from abroad directly to the developer's account or to a personal Cypriot account.
- Bank statement and check to confirm the payment to the developer of the amount of over 200 thousand euros.
- Application for permanent residence (F - Fast Track visa) and documents of title. They are the contract of sale of real estate. Its value under the contract must exceed 300 thousand euros + VAT. The purchase can be registered on the applicant himself or his spouse.
It is important to note that the permit for a residence permit may be canceled if the citizen sells the purchased property and does not immediately replace it with a property of similar or higher price.
Children under the age of 18 may be considered dependents of the applicant. If a citizen plans to obtain a residence permit for investment, he/she is entitled to include his/her spouse and minor children in the application. Children 18-25 years old can be recognized as a dependent of the applicant if they meet the following conditions:
- Are dependent on their parents, i.e. are not financially independent;
- are students of a foreign university, and the term of graduation ends not earlier than six months from the date of application;
- are not married.
At the same time, after the changes of the program from May 2, 2023, the parents of the applicant can no longer apply for a permanent residence permit in Cyprus, using the income and investments of their children in real estate in Cyprus.
Read also:
