On Thursday 11 July, the Cypriot Parliament approved a new law on the granting of the EU Blue Card to highly qualified professionals.
The changes are expected to come into force once the necessary documents have been signed by the President of Cyprus, Nicos Christodoulidis. The law is also expected to be published in the Official Gazette of Cyprus.
It is recalled that the draft law, which aims at attracting highly qualified professionals from third countries to the island, was prepared by the Cypriot Ministry of Finance. The implementation of this initiative will have a positive impact on the island's economy by attracting new businesses and investments
The Blue Card is a residence permit that gives the right to work in Europe. It can only be obtained by highly qualified professionals whose profession is in demand in the EU. The residence permit is issued for the duration of the employment contract, from 1 to 4 years, with the possibility of renewal.
The main advantages of the Blue Card are:
- Legal employment in a profession in demand. At the same time, the salary must be the same for an EU employee and an employee from another country in the same position.
- The possibility of moving the whole family at once. Once a skilled worker has been granted a Blue Card, his or her family (spouse and children up to the age of 18) will be issued with a residence permit allowing them to reunite and live together immediately.
- Simplified procedure for obtaining a residence permit and citizenship. If you speak the language and pay into the pension fund, you can apply for a residence permit more quickly - in 33 months, and get citizenship after 5 years.
- Social and economic protection. Card holders are entitled to health insurance, unemployment benefits and paid holidays. Children can study free of charge and spouses can enrol in university.
- Visa-free travel. This means you can travel anywhere in the EU as a tourist without worrying about getting a visa.
The new employment rules, drawn up by the Cypriot Ministry of Finance, also set the salary threshold for Blue Card applicants at a ratio of 1 to 1.6 to the average salary before tax deductions.
The average salary is one of the criteria used to analyse the income of the population. It roughly divides the entire salary scale in half and draws a line in the middle. One half of the population receives more than this amount, the other half less. The average salary can be calculated on different scales: for the whole country, a particular region or oblast, a city, a company. It helps to understand the current salary situation in a particular industry. The average salary is not a generalisation, but the real situation in the country, region or company. It clearly shows the income of the average worker in the context of current salaries. In the first quarter of 2024, according to the latest data from the Statistical Service, the average salary in Cyprus was 2,378 euros per month (before tax).