I am from the Middle East and wish to relocate my family to Cyprus, a more stable country than my own. I have significant savings to qualify for the program, but can I continue working? What about in other EU countries? Can I work outside of Cyprus?
In pursuance of the provisions of Regulation 6(2) of the Aliens and Immigration Regulations, which governs the immigration permit in Cyprus, an applicant and/or his/her spouse may be a shareholder(s) in a company registered in Cyprus. However, they cannot be employees of their company or employees of any other person/company.
A Cyprus resident permit allows families to reside in the country but does them not allow to take up employment. It, however, allows PRP holders to own a Cyprus company and conduct business through it. As Cyprus is not part of Schengen, a different visa is required for travelling to other countries.
The permanent resident permit does give you EU access and the right to work. The permanent resident permit allows you to reside in Cyprus legally with no employment right, and you can easy obtain a tourist visa for other European countries.
The Cyprus resident permit provides access to Cyprus for residents. It does not grant the right to work in Cyprus. However, the holder of the Cyprus resident permit may establish a Cyprus company and receive dividends from the profits of such a company. The holder of the resident permit may, of course, continue working abroad and having business outside of Cyprus. The Cyprus resident permit does not grant access to travel, to reside or to work in any other EU country. The person who wishes to travel to another EU country should obtain a relevant visa. If the person desires to reside in another EU country, he/she should comply with the requirements of such country.
As Cyprus is a member-state of the EU, acquiring Cypriot nationality would allow you to work in Cyprus as well as all other EU countries. One of the greatest advantages of the Cyprus passport is indeed the fact that it is not just a "travel" passport but a nationality that allows you to travel, live and work within the EU.
Permanent residency (PR) in Cyprus only grants the right of the holder and his/her family to reside in Cyprus but not the right to work in any way. A holder of Cyprus PR, provided that PR was obtained under Regulation 6(2), can be a shareholder in a Cyprus company but not be employed in any way. Moreover, please note that the Cyprus PR does not entitle its holder to obtain employment in the European Union.
If you decide to apply for obtaining Cyprus residency under the provisions of Regulation 6(2) or Category F, please note that you will not be allowed to engage in any business, trade or profession in the Republic of Cyprus. Your income must derive from abroad and may include salaries from employment, pensions, dividends from shares, fixed deposits, rents a.s.o.
This question cannot be answered with a yes or no answer, as there are many issues to consider. For example, besides Cyprus, if the country you wish to work for after you obtain Cypriot citizenship is in the European Union or not, the permanent resident permit which you have obtained and whether it permits you to be employed.
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