Frequent questions

moving to cyprus

You need to apply for the Yellow Slip (residence permit for EU citizens) and obtain the tax identification number. You might need to wait for obtaining the appointment for applying, however shall you submit all the necessary documents, the permit will be ready within 1 day from the application.

You will also need to obtain the tax identification number. The application to get it will be reviewed by the tax authorities up to 1 month.

 

  • Application form to the Migration department;
  • Valid passport;
  • Confirmation letter from employer (if applicable);
  • Two Passport-sized photographs;
  • Certificate of Registration to the Social Security’s Services as self-employed (if applicable);
  • Proof of enrolment to study in Cyprus (if applicable);
  • Proof of comprehensive health insurance cover in the Republic (if applicable);
  • Proof of source of income (if applicable);
  • A document attesting to the existence of a family relationship (if applicable).

List of documents required is subject to change by Migration Department of Cyprus. Any additional documents might be required. 

Yes, you need to be physically present to obtain the Yellow Slip, however our agent will accompany you through the whole process.

You need to apply for a Pink Slip. However, there are several main types of possible Pink Slips:

  • Digital nomad visa: gives you the right to stay and work in Cyprus but not for the company located on the island.
  • Visitor visa: gives you the right to stay in Cyprus without the right to work on the island.
  • Work permit: gives you the right to stay and work in Cyprus in the specific company which gave you the employment offer.
  • Fast Track residence permit: gives you the permanent right to stay in Cyprus without the right to work on the island. Only people who made a significant investment in Cyprus are eligible to apply through this procedure.

No, you may authorize our agent to apply for your Pink Slip. However after the application you will need to go to the migration department to make a photo and provide your fingerprints. Our agent will accompany you through the whole process.

  • Application form to the Migration department
  • Valid passport
  • Employment contract (if applicable)
  • Stamped copy of the employer’s documents from abroad (if applicable)
  • Contracts of services for self-employed (if applicable)
  • Proof of income over EUR 3,500 NET per month
  • Certificate of Criminal Record
  • Medical tests
  • Certificate of health insurance
  • Rental agreement.

 

List of documents required is subject to change by Migration Department of Cyprus. Any additional documents might be required. 

  • Application form to the Migration department;
  • Valid passport;
  • Clear criminal record;
  • Guarantee letter from a bank in Cyprus;
  • Certificate pf health insurance;
  • Rental agreement;
  • Proof of income over EUR 24,000 NET per year.

 

List of documents required is subject to change by Migration Department of Cyprus. Any additional documents might be required. 

  • Application form to the Migration department
  • Valid passport
  • CV
  • Employment agreement
  • Medical tests
  • Employers’ declaration for covering the return cost
  • Certificate of criminal record
  • Receipt of payment of the annual company fee
  • Rental agreement
  • Certificate of health insurance
  • Employer’s liability insurance.

 

List of documents required is subject to change by Migration Department of Cyprus. Any additional documents might be required. 

  • Application form to the Migration department;
  • Valid passport;
  • CV;
  • Proof of income over EUR 30,000 per year;
  • Documents proving the transfer of funds for the respective investment;
  • Documents proving the investment;
  • Official statement of applicant proving, that he/she does not intent to undertake any sort of employment in Cyprus;
  • Certificate of criminal record;
  • Marriage certificate (if applicable);
  • Children’s birth certificates (if applicable).

 

List of documents required is subject to change by Migration Department of Cyprus. Any additional documents might be required. 

Yes, all individuals need to have the residence address in Cyprus. For all banks usually the water and/or electricity bill are required. In some cases the internet connection utility bill might be accepted.

  • Digital nomad visa is issued for a year, however it can be renewed for another two years.
  • Visitor visa is issued for a year. After a year you shall apply for a new visa.
  • Work permit is issued for the term of the employment contract but no more than three years.
  • Fast Track residence permit is issued permanently and does not need to be renewed.

Limited Liability Company (LLC)

For private companies there is no minimum share capital requirement, while the minimum nominal and issued capital of a public company offered for subscription is twenty-five thousand, six hundred and twenty-nine euros (€25.629).

You need to provide us the following documents:

– notarized passport copy

– proof of address

– proof of source of wealth/income (salary ceritificate/Tax declaration for the last 2 years/bank statement)

– bank reference letter 

– CV

– questionnaire (Polina, please provide us)

Please note, all documents must me either in Greek/English or have the certified translation. If you need any help with translating the documents, our office can help you with that.

Shall you need the specific name for your company it will take up to 12 working days upon all the necessary documents were provided to us by you.

In case any name of the company is suitable for you, it will take up to 10 working days upon all the necessary documents were provided to us by you.

If we assisting you with the registration of your company, we will do it for you after the company is registered free of charge.

All companies registered in Cyprus are obliged to pay the annual LEVY fee in the amount of EUR 350. However the amount might be changed at the discretion of the government.

No, we will request you to provide a power of attorney to enable us to complete the whole process remotely for an additional fee.

Yes, all businesses are required by law to have a registered address in Cyprus.

We can offer you the registered address for annual fee.

Yes. You can contact our team, provide the information on the business we will require and we will get the paperwork done for you.

Yes, for all the services provided in Cyprus the VAT at the rate of 19%.

Bank account

Term of opening a private bank account depends on the country of citizenship. However in average it will take a couple of weeks from the date of submission of all the documents to the bank.

Term of opening an account for a company will be a bit longer and will reach over 1 month from the date of submission of all the documents to the bank.

Not 100%. However we can assist you in assessing the weak point of the documents to be submitted to the bank to detect some red flags taking into account the local specifics before submitting applications to the bank.

Accounting and Audit services

It includes a tax consultation and preliminary analysis, bookkeeping of your income and monthly expenses, employee contracts and salaries, filing and declaring taxes, accounting reports and filing annual accounting reports.

 

The accounting service fee starts from 100 € for a dormant company per year up to the agreed amount for companies with over 300 transactions per year. In any case, you can get in touch with us and we will send you a budget for your specific needs.

All companies registered in Cyprus need to submit the audited report to the tax authorities.

In the audit service includes the preparation of audited financial statements under IFRS in English, preparation and submission of Corporation Tax Return – IR4 to the tax Authorities, payment of taxes (if any) to the Cyprus Authorities.

Online Consultation

The consultation has a price of 150 €. When you make a reservation, please don’t forget to enter your information as well as your business billing details in the form so we can invoice you properly.

Yes, for all the services provided in Cyprus the VAT at the rate of 19%.

At the time of payment you’ll be able to book the date and time that works best for you. You’ll be able to choose from all the dates we have available at that time.

During the session you’ll be able to ask all kinds of questions related to:

  • Differences between Limited Liability Companies and Individual Entrepreneurs, and which is more adequate for your case.
  • Company registration and drafting of bylaws.
  •  
  • Laws of Cyprus.
  • Lifestyle and cost of living in Cyprus.

No, recording the session is not possible for the purposes of complying with the GDPR laws as well as protection of the privacy of our clients.

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