Cyprus Relocation Option – Companies of Foreign Interest

Work and Residency Permits for Third-Country Nationals

At Lyssiotis Law Firm, we specialise in tailor-made company relocation services for businesses and employees of Non-EU countries, seeking to relocate to Cyprus. With extensive experience assisting investors, professionals, and families establishing their presence in Cyprus—both in business and real estate—we offer a personalised, comprehensive, and results-driven approach.

Our one-stop-shop model streamlines the entire process. Our dedicated team of corporate and immigration lawyers, accountants, architects, engineers, real estate agents, and valuers ensures that every aspect of your relocation and business setup is handled seamlessly.

Why Cyprus?

Cyprus offers a unique blend of business opportunity, lifestyle quality, and tax efficiency. Individuals and families relocating to the island enjoy:

• A favourable tax regime for both companies and individuals.
  • Widespread use of the English language in business and public administration.
  • A family-friendly environment with a strong international community.
  • High-quality education and healthcare systems.

In line with the Government’s new strategy to attract investors and highly skilled professionals, the Company of Foreign Interests Scheme provides an appealing route for third-country nationals to relocate their business operations to Cyprus—offering residence and employment rights under preferential conditions.

As of today, more than 20,000 valid residence permits have been issued under this scheme, demonstrating its success and popularity.

Key Benefits

• No limit to the duration of stay for employment purposes.
  • Accelerated processing of applications through a specialised department of the Migration Department and the Ministry of Commerce.
  • Residence permits valid for up to three (3) years, renewable.
  • Family reunification rights, covering dependent family members and parents.
  • Free access to employment for spouses.
  • Eligibility for GESY (the National Health System) for the entire family.
  • Fast-track citizenship eligibility after 4–5 years of residence (instead of 8), subject to criteria including Greek language proficiency.
  • Unlimited employment capacity for third-country nationals under the company.
  • No separate Labour Ministry approval required for non-EU hires—saving significant time and bureaucracy.

Main Requirements

• The majority of shareholders must be third-country nationals.
  • The Ultimate Beneficial Owner (UBO) must invest at least €200,000 in the company’s Cyprus bank account, originating from abroad.
  This amount may be used for company expenses or evidenced through operational investments (e.g., office purchase, equipment, etc.).
  • The business premises must be a physical office space (owned or leased). A co-working office is available through our firm upon request.
  • Each employee must hold relevant academic qualifications and at least two (2) years of professional experience.
  • The minimum monthly salary for employees is €2,500.

Procedure at a Glance

1. Company Formation with the Registrar of Companies.
   2. Registration with the Social Insurance Services and Tax Department to become a legal employer.
   3. Registration with the Business Facilitation Unit (BFU) — upon approval, the company receives its official BFU Registration Certificate.
   4. Preparation and submission of residence and work permit applications for employees under the Scheme at the Migration Department.

Our Commitment

Our experienced team provides high-quality, personalised legal advice at every step of the relocation process. We are committed to ensuring that your transition to Cyprus is smooth, efficient, and strategically beneficial—both for your business and your family.