Introduction

In late 2023, Cyprus enacted significant changes to its nationality law, particularly targeting highly skilled and qualified individuals. This move aligns with Cyprus’s strategic goal to strengthen its position as an international technology hub and a competitive business centre. The amendments reflect a proactive approach to attract and retain global talent, bolstering economic growth and diversifying the workforce.

The amendments to the Civil Registry Law, approved by the Cyprus Parliament on November 30, 2023, have introduced a more streamlined and favourable framework for the naturalisation of foreign nationals possessing high levels of specialisation and qualifications.  The law targets individuals employed in industries related to technology and high-tech industries in general.

Overview of the Reduced Residency Requirement

Key Provisions of the Amended Law

Reduced Residency Requirement

  • For applicants in the technology sector, the seven-year residency requirement is reduced to four years for those with A2 level Greek language proficiency, and further to three years for B1 level proficiency.

Financial Stability and Employment

  • Applicants must be financially self-sufficient and maintain a suitable residence in Cyprus.
  • A minimum monthly salary of €2,500 is stipulated for eligibility.

Good Character and Clean Criminal Record

  • A clean criminal record and demonstration of good character are mandatory for all applicants.

Family Inclusion

  • The law extends the right to naturalisation to family members under similar conditions.
  • Fast-track processing for applications is available, with a targeted examination period of 8 months, subject to the payment of a fee.

Impact of Reduced Residency Requirement

  • Attracting Global Talent: This reduction in the residency requirement is a strategic move by Cyprus to attract highly skilled professionals, especially in the burgeoning tech industry. By offering a faster route to citizenship, Cyprus positions itself as a competitive destination for global tech talent.
  • Economic Growth and Innovation: The influx of skilled workers is expected to drive innovation and contribute to the economic growth of Cyprus. The tech sector, in particular, stands to benefit significantly from this policy change, given its potential for creating high-value jobs and attracting foreign investment.

Application Process and Conditions

  • Application Procedure: Skilled workers interested in taking advantage of this reduced residency requirement must adhere to a structured application process, which includes demonstrating their language proficiency, financial stability, and good character.
  • Family Inclusion: The amendment also extends the benefit of reduced residency requirements to the family members of the qualifying applicants, fostering family unity and social integration.
  • Fast-Track Examination: Applications under this category are subject to an expedited review process, aiming to complete the examination within 8 months.

Conclusion

The relaxation of the residency requirements for acquiring Cyprus nationality by skilled workers, as per the 2023 amendment, is a forward-thinking approach by the Cypriot government. It is aligned with the broader strategy of establishing Cyprus as a tech hub and an attractive international business centre. This policy not only simplifies the path to citizenship for skilled workers but also promises substantial benefits for the Cypriot economy, especially in technology and innovation-driven sectors.

Legal Services Provided by Chambers & Co in Limassol

Our Limassol Law Firm, offers a comprehensive range of legal services in line with these legislative changes. Our services include:

  • Immigration and Citizenship Law: Expert guidance on acquiring Cypriot nationality, including assistance with residency requirements, language proficiency, and application processes.
  • Corporate and Commercial Law: Legal support for businesses, including Cyprus company formation, compliance, and commercial transactions.
  • Real Estate and Property Law: Assistance with property transactions, due diligence, and real estate investments.
  • Employment Law: Advising on employment contracts, labour disputes, and HR policies.
  • Technology and Intellectual Property Law: Specialised services for tech companies, including IP protection and technology law compliance.
  • Family Law: Handling matters related to family law, including civil partnerships and family disputes.
  • Litigation and Dispute Resolution: Representing clients in legal disputes, offering mediation and arbitration services.

With a team of experienced lawyers knowledgeable in Cyprus and EU law, Chambers & Co is dedicated to providing top-tier legal solutions tailored to the needs of our clients. Whether you are a skilled professional seeking citizenship or a business navigating the complexities of Cypriot law, we are here to assist you with our expertise and commitment to excellence.