Temporary, not permanent: Initial permit is 1-2 years. Must renew to maintain status. NOT permanent residency.
Renewal depends on company: Company must stay active with real operations. Directorship must continue. This is the most common failure point.
Real business required: Civil Registry assesses substance. Shell structures get rejected.
Annual company costs: Budget €3,500-6,000/year. Audit, accounting, registered office, secretary.
Salary is taxable: Director salary faces Cyprus income tax and social insurance. Non-dom only covers dividends and interest.
GHS contribution applies: 2.65% on dividends and interest. Not zero. Plan accordingly.
5-year path to permanence: EU long-term resident status after 5 years continuous residence. Not tied to company.
Not Schengen: Cyprus EU residency doesn’t grant Schengen access. Accession pending as of 2026.