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As per the Migration Law, all Contracts of Employment to...

i) As per the Migration Law, all Contracts of Employment to be submitted as part of the applications for any kind of Residence and Employment Permit, must be stamped and sealed by the Commissioner for Stamp Duty.

The Original Contract and 2 certified copies of the original must be presented at the Civil Registry and Migration Department.

By Law, all Employment Contracts between companies and individuals that state that they are automatically renewed should be stamped by the Commissioner for Stamp Duty for a period of 12 years.

 

ii) Recently, the same procedure as above has been applied also for the Residential and Office Agreements.

On this note, Rental Agreements must be stamped and sealed by the Commissioner for Stamp Duty.

The Original Contract and 2 certified copies of the original must be presented at the Civil Registry and Migration Department.

By Law, all Rental Agreements that state that they are automatically renewed should be stamped by the Commissioner for Stamp Duty for a period of 100 years.

Important to note is that, for all Agreements and Contracts, the first €5000 of the annual rental fees / salary is exempted from the taxable amount. In the case that the amount of the annual rental fees / salary is less than €5000, no Stamp is required.

Bank Guarantee is a must requirement in most of the... 

Bank Guarantee is a must requirement in most of the applications for Residence and Employment Permits. The amount of the guarantee that should be submitted depends on the country of origin of the Third Country National (TCN), since the deportation costs (ticket etc.) differ depending on the country to which the TCN will be returned.

Under the new Migration Policy recently implemented, you can visit the official website of the Civil Registry and Migration Department to find out the amount of the required guarantee for each country of origin.

As of the 11 May of 2017...

As at 11 May 2017, Mr. Constantinos Petrides has officially taken over his new responsibilities as the new Minister of Interior

ICT Permit  

A new legislation has been introduced based on the EU Directive 2014/66/EU. The name of the legislation is: 'The conditions of entry and residence of third-country nationals in the framework of an intra- corporate transfer' (ICT Permit). 

The above mentioned legislation concerns Multinationals or Group of Companies whose their intention is to transfer their Third Country National employees from a group company outside EU to a group company inside EU and concurrently the employees will have the right to work in more than one company of the same group within EU.

Posted Workers 

A new legislation bases on the EU Directive 2014/67/EU has been introduced. The new legislation is called 'The posting of workers in the framework of the provision of services and amending Regulation (EU) No 1024/2012 on administrative co­ operation through the Internal Market Information System (‘the IMI Regulation’)'.  

This legislation concerns the transfer of EU National or Third Country National employees within EU.

Decentralization of the Service that issues the ''Apostille'' certificate

The Ministry of Justice and Public Order announces that the provision of Apostille services by the Citizen's Service Centers (“CSCs”) is planned from 1/7/2020.

It is pointed out that at the SSCs no APOSTlLLE certifications will be carried out on private law documents e.g. wills, agreements, power of attorney documents, Certificates of the Registrar of Companies as well as of any other corporate documents. In addition, APOSTILLE certifications on affidavits will not be validated at the CSCs. For the above mentioned documents , the Citizens will continue to apply for certification both to the competent Department of the Ministry of Justice and Public Order and to the staff of the Ministry housed in the Limassol CSC.

Furthermore, the Ministry of Justice and Public Order announces the implementation of an electronic digitalisation program of the Apostille Archive, piloted by the staff of the Ministry (Nicosia. Limassol), on 1/6/2020. The Ministry scheduled implementation on a Pancyprian basis from 1/7/2020 onwards.

Subsequently ,with the implementation of the digitization program of the Apostille Archive, the registration of the data of the document and the issuance of the certificate (form), duly completed and stamped, which will be attached to the document, will be done electronically.

This content is for general information purposes only, and should not be used as a substitute for consultation with professional advisors.

Contact us

Tony Hadjiloucas

Partner, In Charge of Private Wealth Services, PwC Cyprus

Tel: +357-25555270

Phryni Yiakoumetti Mina

Director, Private Wealth Services, PwC Cyprus

Tel: +357-22555719

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