Angelina Alyabyeva, Legal Associate, LLB (Hons), LLM, Commercial Mediator and Arbitrator, CYSEC AML Officer
Simplified Application Process and Eligibility Criteria
In a significant move to attract highly skilled professionals from third countries, the Cyprus Parliament has approved two bills introducing the Cyprus Blue Card, the Cypriot equivalent of the EU Blue Card. The new legislation aims to streamline the application process and expand eligibility criteria, making it easier for qualified individuals to secure employment and residency in Cyprus.
Key Highlights of the Cyprus Blue Card
Simplified Application Process: The first approved bill introduces simplified procedures for the application, entry,and residence of highly skilled third-country nationals and their family members holding Cyprus Blue Cards.
Reduced Minimum Contract Duration: The minimum employment contract duration for Blue Card applicants has been reduced from 12 months to six months.
Salary Requirements: Blue Card holders must earn a minimum annual salary equal to the average annual salary in Cyprus before taxes and deductions, but not exceeding it by more than 1.6 times. As of the first quarter of 2024, the average annual salary stood at €2,378.
Eligibility Criteria: Highly skilled professionals with a three-year university degree are eligible for the Blue Catf. In the information and communications technology (ICT) sector, managers or IT professionals with three years of relevant experience (accumulated over seven years before applying) are also eligible.
Annual Quotas: To manage the influx of Blue Card holders, the parliament introduced an amendment establishing annual quotas for Blue Card issuance. The quotas will be determined after consultation with relevant ministries,employer associations, and trade unions.
Technical Clarifications
The second approved bill provides technical clarifications, ensuring that EU Blue Card applicants and holders are not subject to the general provisions of the Aliens and Immigration Law regulating the entry and residence of third-country nationals for research, study, internships, volunteering, student exchanges, or educational programs.
Overall Impact
The introduction of the Cyprus Blue Card is expected to significantly enhance Cyprus's attractiveness as a destination for highly skilled professionals from around the world. The simplified application process, expanded eligibility criteria, and competitive salary requirements make the Blue Card an attractive option for qualified individuals seeking employment and residency opportunities in Cyprus. By attracting top talent, Cyprus aims to boost its economy, foster innovation, and strengthen its position as a regional hub for knowledge and expertise.
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