This section provides information for non-EU citizens who have purchased property, have become residents of the Republic of Cyprus and who plan to do business in Cyprus or to be employed.
There are the following options.
Activities outside Cyprus
While living in Cyprus you can get income from activities outside Cyprus. Cyprus legislation provides unique facilities and immensely mild mode in issues related to taxation of income (dividends) of legal entities and individuals. In many cases taxes are zero owing to non-domiciled tax residency status. You can do this on absolutely official terms. And to accomplish this you will not need the right to work (as this work is OUTSIDE Cyprus).
Business in Cyprus
You can do business inside Cyprus. With this purpose you should found your own company and become its shareholder. Officially you have no right to work there but only to draw dividends.
In reality, of course, you will be in charge of the company, you will be its director and take most important decisions. But the company should have an employee-Cypriot (or citizens of other countries whose immigration status allows working in Cyprus) who will be officially working. According to this scheme you neither need the right to work.
Employment in Cyprus
You can become an employee in a Cyprus company. Aiming at this the company-employer shall apply to the authorities of Cyprus and state that it is interested in you as a valuable employee and requests to grant you a continuous right to work.
According to this scheme you should study the labour market of Cyprus beforehand, send about your CV and carry out preliminary (distant) negotiations with a potential employers. The laws protect the local labouring population. Applicant for a work permit shall either have a unique profession or be an employee of a foreign organization operating in Cyprus that applies for such a permit for its employee.
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