Important changes in Cyprus: Blue Card and new opportunities for specialists

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The Cabinet of Ministers of the Republic of Cyprus has approved amendments to legislation that regulate the process of obtaining the EU Blue Card, and also provide for a lowering of the minimum wage requirements for foreign workers.

The Ministry of Finance of Cyprus has submitted two bills to Parliament, the purpose of which is to attract highly qualified specialists from third countries to the island.

The Blue Card is a residence permit providing the right to work in the EU. This status is available only to specialists with high qualifications and a profession in demand in the European Union. The residence permit is issued for the duration of the employment contract from 1 to 4 years with the possibility of extension.

Blue Card benefits include:

✔ Legal employment

✔ Possibility of relocating the whole family

✔ The right to medical insurance, unemployment benefits and other social support

✔ Simplified procedures for obtaining permanent residence and Cypriot citizenship

According to a proposal by Cypriot Interior Minister Konstantinos Ioannou, the proposed changes aim to introduce a more flexible framework for the entry and residence of highly skilled workers from countries outside the EU. In addition, more flexible rules are being introduced to attract highly qualified employees from the EU.

The amendments are consistent with the talent attraction agenda and are part of wider efforts to promote legal immigration, while they harmonize national legislation with the relevant Directive of the European Parliament.

These changes are expected to have a positive impact on the Cyprus economy by attracting new companies to Cyprus specializing in IT and communications technologies.

The new rules are expected to come into effect in the second quarter of 2024.

For more details, please contact our office in Larnaca

 

OBTAIN PROFESSIONAL IMMIGRATION ADVICE

If you have any questions in any of the directions, please contact us.

 

READ ALSO:

Residence Permit and Immigration to Cyprus
Relocating your business to Cyprus
TOP 5 reasons to move your business to Cyprus in 2024
Cyprus Company Incorporation
Permanent residence in the EU. How and where to get permanent residence in 2024

Article author

Tetyana Lementarova Managing Partner
Ukraine
In 2004 Tetyana Lementarova graduated from the University of Nottingham Trent, London (UK) qualification of Bachelor of International Business (BA Hons) and in 2006 received an MBA from the European School of Economics Rome (Italy), Marketing Management specialisation. Has work experience in UK, Ita...
In 2004 Tetyana Lementarova graduated from the University of Nottingham Trent, London (UK) qualification of Bachelor of International Business (BA Hons) and in 2006 received an MBA from the European School of Economics Rome (Italy), Marketing Management specialisation. Has work experience in UK, Italian and Cypriot companies. 2005-2009 co-founder of an Italian company tour operator New Lands (Rome, Italy). Since 2001, Mrs. Lementarova works as representative of Feod Group abroad. Participates on behalf of the company in international seminars, trainings and conferences on education, immigration and property acquisition abroad. Tetyana Lementarova is an expert in the field of:
  • planning an academic career abroad;
  • organisation of new business abroad and purchase of ready business;
  • obtaining immigration status;
  • selection of investment projects.
Speaks Russian, Ukrainian, English, Italian, French.
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