According to the Civil Registry (amending) Law of 2023 (149(I)/2023, employees of Companies of Foreign Interests (known as BCS companies) can under certain condition apply and be eligible for naturalization. This program has attracted non-EU citizens who wish to enjoy the tax favorable regime of Cyprus while obtaining an EU citizenship. More details about BCS companies can be found in this article:
https://www.cypruslegalservices.eu/residence-cyprus-foreign-interests/
Highly skilled employees of BCS companies can obtain residency permit in Cyprus and eventually may also be eligible to apply for the citizenship. This applies not only for the highly skilled workers of such companies but certain close family members as well. Highly skilled employees should have a minimum gross salary of €2,500 per month. More details about the definition of what constitutes a highly skilled employee can be seen in the article above.
The criteria to be eligible for naturalization include:
- Residing in Cyprus for a minimum period of 4 years within a ten-year period, as from the 12-month period preceding the date of the application for naturalization.
- Living in Cyprus continuously for the period of 12 months before the application for the naturalization is submitted to the relevant authorities. During this one-year period, the applicant can be away from Cyprus up to ninety days in total.
- The applicant must be a holder of Greek language certificate B1 level.
- If the applicant has an A2 level certificate of Greek language, the requirement for living in Cyprus for a minimum of 4 years is reduced to a minimum of 3 years.
- Any time spent in Cyprus as a student, tourist or asylum seeker does not count towards the required period legally living in Cyprus.
- The applicant should have a good knowledge of the social and political situation in Cyprus.
- The applicant should be of good character and should not be a threat to public order or be a sanctioned person according to the EU or the UN.
- The applicant should have proper accommodation in Cyprus and be able to financially support himself/herself and his/her family.
- The applicant's close family can apply for naturalization as well. This applies for the spouse of the applicant and any minor children or adult but dependent children having disability that stops them from being able to work.
A fast-track process is available for highly skilled employees. The processing of such applications for naturalization should not exceed 8 months. This applies both for the high skilled workers and their family members as well. The fee paid to the authorities for the processing of fast-track applications is €5,000.
Our services:
- Offer any advice regarding the process, required documentation, and guide you through the process.
- Our Cyprus lawyers will assist you with the Cyprus company formation necessary as a first step in the process.
- Assist with the registration of the company with the Business Facilitation Unit so the company will be regarded as a foreign interest's company.
- Our Cyprus law firm will manage the process for residency/employment permit which is necessary before the high skilled employee can fulfil the minimum required years of residency in Cyprus and be able to submit any subsequent application for the citizenship.
- Advise in regard to the process and required documents, manage the application process for naturalization and follow up until completion of the processing of the application.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
