Company Formation and Relocation from Israel to Cyprus: Work and Residence Permits in Cyprus

Our firm specializes in company formation and relocation from Israel to Cyprus.

Legal services are provided through our established Nicosia legal desk, which has extensive experience in the business and real estate sectors.

We offer full legal services in a One Stop Shop format, streamlining the process through a dedicated team of experts, including corporate and immigration lawyers, accountants, architects, engineers, real estate agents, and appraisers.

Why Cyprus?

Individuals and families choosing Cyprus as their new home enjoy several advantages, including a favorable tax regime for both companies and individuals, the advantage of conducting all business transactions in English, a welcoming environment for Israelis, and access to high-quality education for children.

In line with a recently adopted strategy by the Government of Cyprus to attract investors and skilled professionals, establishing a company by foreign nationals wishing to transfer their business to Cyprus has become an attractive option, as it grants them the right to live and work in Cyprus under favorable conditions.

Advantages

• No limitation on the duration of stay in Cyprus for work purposes.

• Accelerated response times for application review by a dedicated unit within the Immigration Authority and the Ministry of Commerce.

• All permits are granted for a period of up to three (3) years, with the possibility of renewal.

• Family reunification available, including dependent family members of the main applicant, as well as parents and parents-in-law.

• Free access to employment for spouses.

• Eligibility for registration with the National Health System (GESY) for family members.

• Reduced timeframe for obtaining Cypriot citizenship after 4–5 years of residence in Cyprus (instead of 8 years), subject to meeting certain requirements, including knowledge of the Greek language.

• No restriction on the number of third-country employees that may be employed by a foreign interest company.

• No need to obtain special approval from the Ministry of Labour to employ a non-EU national – a process that is otherwise long and burdensome in other work-related procedures.

Main Requirements

• The majority of shareholders must be nationals of third countries.

• The Ultimate Beneficial Owner (UBO) must invest at least EUR 200,000 into the company’s bank account. This amount may be used immediately for company expenses.

• Alternatively, evidence of investment already made for company purposes may be provided, such as the purchase of office space, office equipment, etc.

• It should be noted that this EUR 200,000 investment must originate from funds outside Cyprus.

• The company’s registered office address must be a physical location where actual business activities are conducted. The premises may be purchased or rented. Our firm offers co-working space for rent upon request.

• Employees are required to present academic qualifications and at least two years of relevant professional experience.

• Minimum monthly salary of EUR 2,500.

Fast-Track Procedure

1. Company incorporation with the Registrar of Companies.

2. Registration with the Social Insurance Department and the Tax Department to obtain the status of a legal employer.

3. Company registration with the Business Facilitation Unit (BFU). Once the application is approved, a registration certificate will be issued to the company.

4. Preparation and submission of employees’ applications for residence and work permits to the Immigration Authority under the program.

Our experienced team provides high-quality advice tailored to your specific needs and circumstances and will accompany you every step of the way in your relocation to Cyprus.