One of the main objectives of the economic policy of the Republic of Cyprus is to further encourage foreign direct investment and to attract high net worth individuals to settle and conduct their business in Cyprus. Key factors that make Cyprus an attractive destination for investment, is the highly specialized human capital, the reliable legislative and regulatory framework, the stable tax system and the safety and stability conditions prevailing in the country.
Within this framework and taking into account the great interest shown by investors, the Government of Cyprus has established and revised the “Cyprus Investment Programme” (Programme) on the basis of subsection (2) of section 111A of the Civil Registry Laws of 2002-2019, with specific incentives, terms and conditions and control procedures in order to prevent abuse.
Yellow Slip also known as a Registration Certificate is available to European (EU and EEA) citizens and their family members who wish to relocate and work in Cyprus. Every EU citizen, especially those EU citizens who have worked and lived in Cyprus for 3 months or more, must apply for a yellow slip. Holders of a yellow slip in Cyprus have the same rights as Cypriot citizens, full rights of stay and re-entry in the country, work and engage in business activities.
Pink Slip is a special temporary permit that allows Non-European Union passport holders to extend their stay in Cyprus for more than 3 months without employment rights. Under this permit, a person is allowed to live in Cyprus on a temporary basis and also bring his close family members to live with him. Additionally, it enables tourists and visitors to extend their stay, despite the duration of their primary visa. Must be noted that the application has to be done before visa expires. Applications must be applied to the Immigration Department of the city that the candidate lives.
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