Many Foreigners who wish to move to Cyprus wish to know, can Third Country Nationals work in Cyprus?
The Labour Department is responsible for applications from Employers to employ Third Country Nationals for short term needs (1-2 years) provided that Cypriot or European citizens do not meet those specific needs of the Employer.
The main criterion to apply for the employment of a Third Country National is the Non-availability of European staff to satisfy the specific needs of the employers.
It is important to mention that companies in which the majority of shares are possessed by Third Country Nationals can be registered at the Civil Registry and Migration Department, as a foreign interest company, invest the amount of €200,000 for the operation of the company in Cyprus and employ third country Nationals qualified managers, key personnel and supportive staff. This procedure has become a fast track procedure lately for company which applies at the fast track business activation mechanism which fulfill the criteria below:
• Companies should have a physical presence in Cyprus including establishment/operation of independent offices that are separated from any private residence.
• Existing companies set up abroad (should have a minimum turnover of €500.000 per year for 3 of the last 5 years.
• New companies should have a 5-year business plan.
For further information, you can contact G. KOUZALIS LLC