Working in Cyprus: the EU/third-country divide, the FIC route, and setting up a company

The right to work is the sharpest divide between EU and third-country movers on the whole subject. For an EU citizen it is a non-issue; for a third-country national it is the thing everything else hangs on.

EU, EEA and Swiss citizens

Free access to the labour market from day one, employed or self-employed. The yellow slip (MEU1) is a residence registration, not a work permit — there is no separate permission to obtain. It costs €20, has no expiry, and you apply within four months of arrival.

Third-country nationals

No free labour-market access. You need a work-and-residence permit tied to a specific employer and category — the permit is the job. The main skilled route is the Foreign Interest Company below.

The Company of Foreign Interests (FIC) is the main channel for skilled third-country employment. The company registers with the Business Facilitation Unit, broadly needs majority third-country ownership and an initial investment of around €200,000, and can then employ «key personnel» — directors, middle management and specialists — on a minimum gross salary of €2,500 a month, with a relevant degree or at least two years' experience and a contract of at least two years. Processing is roughly a month; the permit runs up to three years.

Setting up a Cyprus company. A private limited company (LTD) needs at least one director, a secretary, at least one shareholder, and a physical registered office in Cyprus (a PO box will not do):

Timeline

Name approval a day or two; incorporation roughly 8–12 working days.

Cost

Government registration fee €165. A first year all-in is commonly quoted around €2,000–€2,100, with annual running costs around €3,000 including the mandatory audit, plus a €350 annual levy — provider-dependent estimates.

Corporate tax

15% from 2026.

On self-employment: EU citizens register freely, but for third-country nationals it is restricted — a standard work permit does not let you freelance on the side. The self-employed pay social insurance at 16.6% plus GESY at 4.00%. The full picture — permits, salaries, qualifications — is in the work and business guide; the contribution side sits in taxes.