Opening a Representative Office in Cyprus?

[oldtimer2]

It is often fairly easy to open a Representative (also called Liaison) Office in many countries. Then to have that Office go through a process to invite you(even non-EU nationals) to go to the country and become resident there based on being the manager / Representative at the Representative Office.
Does anyone know how simple this process is in Cyprus and what the steps are to:
a) register / open the RO; and
b) apply for temporary residency as a non-EU national?

Perhaps cypruslawyer101 might have some experience to share?
Thanks!

 

[Don]

It is often fairly easy to open a Representative (also called Liaison) Office in many countries. Then to have that Office go through a process to invite you(even non-EU nationals) to go to the country and become resident there based on being the manager / Representative at the Representative Office.
Does anyone know how simple this process is in Cyprus and what the steps are to:
a) register / open the RO; and
b) apply for temporary residency as a non-EU national?

Perhaps cypruslawyer101 might have some experience to share?
Thanks!

This is actually coming from an EU directive so same thing is possible in every EU jurisdiction with more or less same terms and conditions attached.
When advising non-EU nationals regarding migration, in many cases its one of the most practical way for acquiring TRP.

https://home-affairs.ec.europa.eu/p...n/work/intra-corporate-transfers-directive_en
Find more info here:
http://www.moi.gov.cy/moi/crmd/crmd.nsf/intracoorporate_en/intracoorporate_en?OpenDocument

 

[oldtimer2]

This is actually coming from an EU directive so same thing is possible in every EU jurisdiction with more or less same terms and conditions attached.
When advising non-EU nationals regarding migration, in many cases its one of the most practical way for acquiring TRP.

https://home-affairs.ec.europa.eu/p...n/work/intra-corporate-transfers-directive_en
Find more info here:
http://www.moi.gov.cy/moi/crmd/crmd.nsf/intracoorporate_en/intracoorporate_en?OpenDocument

Thank you for your comments!

I am sure you are correct about this option.

I am interested to know if anybody has actually gone through the process with success in Cyprus. Every country has its own way of interpreting EU laws .
For example, in Italy the RO does not need to submit the financial statements of the Headquarters company. In Cyprus the RO must submit them every year!

Also, I am interested to know if there are _multiple_ residency permit options in Cyprus relating to opening a RO??
Different options (if they exist for Cyprus) can have different pro's and con's.

Let me give an example of why I ask about possible multiple options in Cyprus:
In Italy, there are at least 3 options (all OUTSIDE THE FLOW QUOTA'S) for the residency permit when a non-EU national becomes the representative at the RO.
The first option (the one most commonly spoken about) is the one you refer to: the EU Intra-Company Transfer visa.
The second option is the Italian _national_ Intra-Company Transfer option. This has slightly different rules and conditions to the EU option... but both options do _not_ lead to permanent residency.
Both have higher requirements than the 3rd option (below).
Also, ICT visa's are a shorter term temporary work transfer arrangement, where it is written that the person will eventually return to their home country. So the EU option ICT residency permit holder has to depart the host country after a set number of years. Different EU countries stipulate different lengths of time that the non-EU national must be outside their country before they can apply again for the ICT visa .
(I think to be able to extend the ICT based TRP over another 3 years, the host country would require very good reasons why the person has not returned to their home country which is a requirement of the program.)
So options 1 or 2 are okay for a shorter term option (such as 3 years, possibly extendable after a short period of departure,) where the person is not wanting to stay longer or obtain permanent residency.

The 3rd option in Italy is a self employed visa. This is a normal TRP and Yes, this option can lead to permanent residency.
(Normally an Italy self employment visa is controlled by the Flow quota's but _not_ when the nulla osta is obtained by a RO!)
Also, the self employed visa has _very low_ annual income requirements to renew the permit. Options 1 and 2 have much higher minimum income requirements.
This 3rd option is advertised by accountants such as Nicolo Bolla and I have confirmed this option exists directly with my local Italian Embassy.
----

So, this is why I am now also asking if Cyprus offers such (more than one) options for non-EU nationals who are going to become the representative at a Representative (Liaison) Office in Cyprus.

Any experience about opening RO and obtaining the TRP based on the RO in Cyprus is very welcome.

Also, if any Cyprus lawyer or accountant can assist with this process!

 

[MichaelYoung]

Thinking about setting up a Representative Office in Cyprus? It's a way to have a presence there without starting a full-fledged company. Great for testing the waters or supporting your main business activities.

Opening a Representative Office in Cyprus is a strategic move for businesses looking to establish a presence without committing to a full company setup. Here's a detailed breakdown:

1. Introduction:
   • A Representative Office is a way to have a business presence in Cyprus without forming a separate legal entity.
2. Purpose:
   • Typically used for market research, marketing, and support activities. It allows you to explore the market without the complexities of a full business setup.
3. No Commercial Activities:
   • Representative Offices are restricted from engaging in profit-generating activities. They serve as a liaison for the parent company.
4. Registration Process:
   • The registration process involves submitting necessary documents, including details about the parent company, the purpose of the office, and financial statements.
5. Local Representative:
   • You'll need to appoint a local representative responsible for liaising with local authorities and facilitating the office's activities.
6. Time and Cost:
   • The process is generally quicker and more cost-effective compared to setting up a full subsidiary. However, specific requirements and timelines may vary.
7. Compliance:
   • Ensure compliance with local regulations. While a Representative Office has limited activities, adherence to local laws is crucial.
8. Duration:
   • Representative Offices are often established for a fixed duration, and renewal procedures may be required.
9. Benefits:
   • Allows businesses to establish a physical presence, conduct market research, and build local relationships without the full commitment of a subsidiary.
10. Consider Professional Assistance:
    • Given the nuances of local regulations, seeking professional advice can streamline the process and ensure compliance.

Remember, the decision to open a Representative Office should align with your business goals and strategy for the Cyprus market. It's a valuable tool for initial market exploration and brand presence. Always consult with offshore company formation experts familiar with local regulations to navigate the process smoothly.