Mon - Fri 08:30-17:30

Immigration Law

Immigration Law

Our dedicated and experienced team is providing services in the area of immigration by providing support and legal assistance to investors and individuals as well as their families. If you are intending to relocating yourself or your business to Cyprus the following options are available:

Cyprus Permanent Residence

In accordance with the Regulation 6(2) of the Aliens and Immigration Regulations allows a non-EU investor to apply for permanent residency in Cyprus assuming he/she meets certain criteria.

The main requirement is one of the following investment options:

• Purchase of new immovable property of a total market value of at least EUR 300,000 plus VAT.
• Purchase of up to two new or used immovable non-residential properties (offices, shops, hotels, or other developments) of a total market value of at least EUR 300,000 plus VAT.
• Share capital of EUR 300,000 of a physical company registered and operating in Cyprus, which employs at least five people.
• Units of EUR 300,000 in the Cyprus Investment Funds Association’s collective investments (AIF, AIFLNP, RAIF)
The applicant must provide supporting evidence of a secured annual
income of at least EUR 30,000 deriving from abroad (an additional EUR 5,000 is required for each
dependent spouse and adult child, and EUR 8,000 for each parent).

Yellow slip- EU National Employment

The Registration certificate, commonly known as ‘Cyprus Yellow Slip’, as it is printed on yellow paper, is available to European (EU and EEA) citizens who wish to stay and work in the Republic of Cyprus, in accordance with the implementation of Law no. 7(I) of 2007 “The Right of Union Citizens and their Family Members to Move and Reside Freely within the Territory of the Republic of Cyprus Law of 2007”.
There are three forms to be completed depending on the status of each individual:
• MEU1 form: for Citizens of the European Union and their family members who are also citizens of the European Union.
• MEU2 form: Once the main applicant receives the yellow slip the family members who are not European Union citizens can apply with the MEU2 form.
• MEU3 form: EU citizens living in Cyprus for a continuous period of 5 years are eligible to apply for a permanent residence certificate, which will confirm their right to permanently live in the country.

Domestic Worker Visa

In accordance with the Civil Registry and Migration Department of Cyprus, the below certain criteria must be fulfilled for employment of a domestic worker:
• Families with a child under the age of 12 when both parents work and contribute to the Social Insurance Fund.
• Families with no children when both husband and wife, work and their annual declared taxable income is more than €52.000.
• Single parent families granted the custody of a child under the age of 12, provided that the parent works and contributes to the Social Insurance Fund.
• In cases where one of the two parents works, the annual declared taxable income should be at least €86.000.
• Single working persons provided that their annual declared taxable income is more than €52.000 and that they are contributing to the Social Insurance Fund.

Registration of a company in Business Facilitation Unit (BFU) and work permit of Non-EU National in the Migration

If the majority of the Cyprus company’s shares are owned by third-country nationals in order to employ non-EU national, then the company shall be registered in the Business Facilitation Unit of the Ministry of Energy and Commerce.
Once the company is registered in the BFU a third-country national who wishes to work in Cyprus, must be first registered in the Migration Department. Kindly note that the minimum salary is EUR 2.500 for key personnel and EUR 4,000 for Director. The minimum employment period is for 2 years.

Nomad Visa Scheme

On the 15th of October, 2021, the Council of Ministers approved the introduction of the Digital Nomad Visa Scheme in Cyprus, with a ceiling of 500 residence permits to be issued.
The “Cyprus Digital Nomad Visa” Scheme allows nationals from non-EU and non-EEA countries, who can perform their work location-independently using telecommunications technology, to reside temporarily in Cyprus and work for an employer registered abroad or perform work through telecommunications technology for companies or clients located abroad.

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Shelf Companies & Pre- Approved Names

Shelf Companies

A shelf company is the fastest way to getting a business fast and running. A shell company is a ready-made company, with no assets and/ or liabilities.
We can provide a list of ready-made companies available for purchase.
We, SN Nicolaou & Associates LLC, supply shell companies with appointed professional directors and trustee shareholders. The legal secretary and the secretarial services for the company are provided by our firm. The registered office address is our secretarial companies’ address as an effort to ensure compliance with the money laundering legislation. Once the company is acquired by the client, then all above requirements all of the above-mentioned requirements, can be fulfilled with individuals and/ or legal entities of your choice.

Pre- approved names

We also provide a list of pre-approved name of companies, as an effort to speed-up the formation of a company. However, it is noted that the name can be changed at any time in the future, to a name of your choice.

Corporate Administration Services

We provide a complete range of administration services for our clients’ day to day operations. Our aim is to respond promptly to our clients’ request and provide flexible solutions.
Our corporate administration services include the following:

Preparation and/ or reviewing of minutes & resolutions

Opening of bank accounts and provision of bank signatories for the processing and execution of bank instructions

Preparation and reviewing of various types of agreements

Drafting and reviewing of documents related to transfers of shares of a Cyprus company, change of directors, secretary, registered office, including submissions of the required forms to the Registrar of Companies

Arrangements for Share capital increase/ reduction (including the drafting of resolutions and other related documents

Amendments to M&A

Obtaining of corporate certificates from the Registrar of Companies

Redomiciliation of companies from/ to Cyprus

Undertaking company searches and due diligence requirements

Handling correspondence with third parties and various authorities

Monitoring local compliance with statutory requirements and filings

Issue of sales invoices and collection of receivables

Attending meetings and carrying out negotiations on behalf of clients

Legal Due Diligence including the collection of documents and assessment of potential risks, as per clients’ request

Assistance in applying for and obtaining business licences for specialized industry sectors and regulated investment firms.

Arranging for registration of trademarks or trade names

Corporate Secretarial Services

The existence of a company legal secretary is a requirement for the incorporation and operation of a Cyprus company under the companies’ law.
Our secretarial services include the following:

Provision of registered office address

Maintaining and safekeeping the statutory records and registers of the company

Attending meetings and keeping meeting minutes

Preparation of the Annual Directors’ Report to accompany company’s Financial Statements

Registration of company pledges

Request corporate certificates from public authorities

Preparation of notices for shareholders’/directors’ meetingss

Keep companies’ seal

Safekeeping of companies’ share certificates

In addition to the above-mentioned corporate administration services, we provide assistance on any corporate work required in the day-to-day administration for a Cypriot entity.

Banking Services

We can assist you with a number of banking solutions as we have established relationships with both Cyprus based as well as foreign banks. In the current world of compliance, successful bank application depends on the level of expertise of your banking advisor.
Our banking team can assist you with the following:

Expressing legal opinions with legal conclusions and analysis on a specific transaction or matter and the legal effect of the transaction or matter addressed to regulatory authorities

Preparation of policies in accordance with legal obligations on specific practise areas

Advisory services to any business transactions

Advisory services, on specialised industry areas such as the financial services

Provision of compliance health-checks

Provision of Anti-Money Laundering Review procedures and assessment on compliance with relevant laws and directions

Assistance in applications to Central Bank for Electronic Money Institutions (EMI) and Payment Institutions (PI)

Assistance in application for financial services companies in Cyprus (CySEC), Malta (MFSA), UK (FCA), UAE – Dubai (DFSA)

Get the list of requirements and documents

Pay the amount of EURO 100 and you will receive it in your email (per above submitted to us) in 1 working day from the day of payment.

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Please feel free to contact us. We will get back to you within 1 business day. Mon – Fri 08:30-17:30