Cyprus New Blue Card for Foreign-Owned High-Tech and Fintech Companies

Cyprus New Blue Card for Foreign-Owned High-Tech and Fintech Companies

Cyprus lawyers G. KOUZALIS LLC informs you that Council of ministers has approved a new regulation for foreign-owned high-tech and fintech companies relocating to Cyprus to enhance Cyprus’s workforce and also to attract high profile professionals.

The breakthrough news is that ‘Blue Card’ gives the right to non-EU highly qualified individuals to live and work in an EU member state and have access within EU members states. The applicants must have high professional qualifications and an employment contract for at least one year with a salary above the EU average. Alternatively, Directors in information and communication technologies can apply provided that they have minimum three years of experience in any country within the seven years prior to the blue card application.

The regulation stipulates that Blue Card holders must receive a salary between 1 to 1.6 times the average gross annual salary of the member state.

A one-stop service will be established at the Population and Migration Registry Department to receive Blue Card applications.

Please stay tuned to G. KOUZALIS LLC Lawyers in Cyprus as soon further information will follow.