Non-EU Owners of Cyprus Companies Entitled to Work and Live in Cyprus

Non-EU Owners of Cyprus Companies Entitled to Work and Live in Cyprus

The most straight forward way for non-EU business people to legally work and live in Cyprus is setting up their own company in Cyprus.

The hidden gem in Cyprus’ new legislation to support business in the country provides non-EU citizens with a straight-forward opportunity to legally work and live in Cyprus.

This opportunity has been designed especially for non-EU business people. All they have to do is to set up their own company, being the sole or majority shareholder, and getting employed by their own company.

The Cyprus company must be registered and approved as a company eligible to employ non-EU nationals. Once approved, the company will apply for special registration of the company’s employee(s). Non-EU shareholders of the company are allowed to be employed by their company.

There is no need to apply for a separate work permit or residence permit.

There are only a few conditions to register employees under the aforementioned scheme:

  1. The employment contract must cover employment for at least for two years;

  2. The monthly gross salary of the non-EU employee must be at least €2,500;

  3. The non-EU employee must a university degree / diploma or, must prove at least 2 years of relevant experience in a corresponding position.

 

Our business setup and immigration services

Shanda Consult accompanied many non-EU nationals to set up their business in Cyprus and to legally work and live in Cyprus, providing the entire scope of necessary assistance:

  1. Incorporation of company;

  2. Registering the company with the tax authorities;

  3. Applying for registration and obtaining approval of the company as eligible company for this scheme, including the preparation of necessary documentation;

  4. Applying for and obtaining special registration of the company’s non-EU employees (shareholders and/or non-shareholders);

  5. Registering the employees with the tax authorities.

 

Some of the main advantages of doing business in and from Cyprus

There are good reasons why so many business people from all around the world are preferring Cyprus as their location to do business and to work and to live. Here are some of them:

  1. Cyprus is truly business-friendly country, looking back to a business hub culture since more than 3,000 years.

  2. Companies in Cyprus are embedded in a dynamic and prospering business environment, operating mostly globally.

  3. Cyprus provides a pleasant and comfortable lifestyle.

  4. Cyprus has one of the lowest crime rates in the world.

  5. Corporate tax rate is only 12.5% on taxable income.

  6. Residence who relocated to Cyprus are exempted from tax on dividends and interest income received from anywhere in the world for a period of 17 years.

  7. There is no tax on income from holding and disposal of securities in its widest definition, including own company shares.

  8. Cyprus is equally close to Europe and the Middle East, and to Russia and many CIS countries.

  9. Cyprus is so appealing that the owner and managing director of Shanda Consult, Stefan Nolte, is living in Cyprus since 1999.

 

Schedule a Zoom meeting with us through the contact form below and discuss your personal route to Cyprus with us.