Enhanced Enforcement of Immigration Rules for BCS Residency Permit Holders
The Cyprus Migration Department has begun stricter enforcement of immigration law provisions concerning the source of local income for non-EU nationals holding a BCS Temporary Residence Permit.
Key Update:
If you are employed by a Cypriot company under a BCS permit and simultaneously act as a shareholder or director of another Cypriot company, this arrangement is only allowed if both companies belong to the same group. This clarification has important implications for both the employer and the employee.
What You Need to Know:
- Coordinated Oversight: The Migration Department is working closely with the Registrar of Companies and other authorities to identify potential non-compliance.
- Action Required: Individuals have already begun receiving written notices to align with immigration regulations within 30 days of registering new companies or declaring changes in directorship/shareholding.
- Wider Implications: This stricter stance may also affect holders of other types of temporary and permanent residence permits.
We strongly recommend reviewing your current business and employment structures to ensure full compliance. If you have any questions or need assistance, Aqualis is available to support you with tailored guidance.