Obtaining a Work Visa in Cyprus Through Company Registration

Registering a company in Cyprus remains one of the most accessible ways to legally live and conduct business in the EU. In 2025, foreigners can obtain a work visa (work permit) by creating a Cypriot company and holding a position as director or manager. This route combines business immigration with migration stability — without the need for large real estate investments.

Legal Basis

The procedure is based on the Aliens and Immigration Law, Cap. 105, along with additional provisions regarding the employment of foreign nationals. A foreigner who registers a company and is officially employed in it is entitled to a work and residence permit valid for up to one year, with the possibility of renewal.

The company owner submits an application to the Civil Registry and Migration Department (CRMD) under the category “Director / Employee of Foreign Company”. Family members may also be included if the applicant earns sufficient income and the company is genuinely operational.

Company Registration

The most suitable form is a Private Limited Company (LTD), which allows 100% foreign ownership. There is no minimum capital requirement by law, but for immigration purposes, it is recommended to contribute at least €50,000. The process includes:

• Reserving a unique company name with the Registrar of Companies;
• Preparing the Memorandum and Articles of Association;
• Appointing a director and secretary and registering a legal address;
• Submitting the full document package to the registrar;
• Obtaining Certificates of Incorporation in Greek and English.

After registration, a lawyer arranges a Tax Identification Code (TIC) and, if necessary, VAT registration.

Opening a Bank Account and Confirming Business Activity

To obtain a work visa, the company’s economic activity must be confirmed:

• Open a corporate account in a bank or electronic payment system;
• Submit a description of business activities and expected turnover;
• Provide documents verifying the source of funds and tax numbers of directors and beneficiaries.

Cypriot banks conduct thorough AML/KYC checks, so having a business plan and contracts increases the likelihood of quickly opening an account.

Steps for Obtaining a Work Visa

The application can be submitted in person or via a representative. Required documents include:

• Passport, photos, and insurance;
• Company incorporation documents;
• Employment contract and proof of residence;
• Bank statements demonstrating sufficient funds for living.

The average processing time is 2–3 months. Once approved, the applicant receives a Residence and Employment Permit, allowing them to live and work on the island. The permit is renewed annually as long as business activity continues.

Taxes and Resident Obligations

The permit is renewed annually if the company remains active. After obtaining resident status, an entrepreneur spending more than 183 days per year in Cyprus, or qualifying under the 60-day rule, can register as a tax resident. This status allows access to the benefits of the Cypriot tax system.

Key points include:

• Corporate tax rate: 12.5%;
• Dividends paid to non-residents are tax-exempt;
• Cyprus has signed over 60 double taxation agreements, making it one of the most attractive jurisdictions in Europe for international business.

Legal Assistance in Obtaining a Work Visa

The process of obtaining a work visa in Cyprus requires precision, compliance with the formal requirements of the Migration Department, and a solid understanding of corporate law. It is advisable to involve a lawyer at the company registration stage, who can ensure that the company structure meets the requirements of the Civil Registry and Migration Department (CRMD) and prepare the necessary documents for employing a foreign director.

Professional legal support includes:

• Analyzing the business model and preparing a brief financial justification for the project;
• Drafting applications and employment contracts;
• Assisting with the submission of documents to government authorities.

For foreign entrepreneurs, legal guidance is especially important: a lawyer ensures transparency of the process, minimizes the risk of rejection, and develops a legal strategy that allows the company owner to legally live and work in Cyprus.