ARTICLE
10 December 1999

Business And Investment Opportunities in Cyprus - 11. Residence And Work Permits

EN
Elias Neocleous & Co LLC

Contributor

Elias Neocleous & Co LLC is the largest law firm in Cyprus and a leading firm in the South-East Mediterranean region, with a network of offices across Cyprus (Limassol, Nicosia, Paphos), Belgium (Brussels), Czech Republic (Prague), Romania (Budapest) and Ukraine (Kiev). A dynamic team of lawyers and legal experts deliver strategic legal solutions to clients operating in key industries across Europe, Asia, the Middle East, India, USA, South America, and China. The firm is renowned for its expertise and jurisdictional knowledge across a broad spectrum of practice areas, spanning all major transactional and market disciplines, while also managing the largest and most challenging cross-border assignments. It is a premier practice of choice for leading Cypriot banks and financial institutions, preeminent foreign commercial and development banks, multinational corporations, global technology firms, international law firms, private equity funds, credit agencies, and asset managers.
Cyprus Wealth Management
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The expatriate directors, executives and managers of all offshore entities are able to obtain residence and work permits fairly easily and without delay. Provided that no suitably qualified Cypriots are available, administrative, clerical and non-executive expatriate employees may also secure such permits without difficulty.

The residence and work permits are usually received within one month of application. Thereafter the expatriate employee, and each member of his family holding a separate passport, should report to their local police immigration department where they will each be issued with an Alien Registration Certificate.

Residence and work permits are usually issued for an initial period of one year but will be readily extended for additional two year or three year periods, depending on the rank or seniority of the employee.

The purpose of this publication is to assist clients and associates in clarifying and appreciating the range of opportunities which are available in or through Cyprus. Although every effort has been made to provide the reader with a clear and comprehensive picture of the island's beneficial regime, it should be appreciated that is not possible to cover all aspects comprehensively in a publication of this size.

Individuals or companies who are seriously considering using Cyprus for any of their international business activities are advised to obtain expert professional advice before taking positive action.

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