On October 20th, in the law firm of Symeon Pogosian, a practical seminar dedicated to the issues of relocating employees from third countries to Cyprus through employment in foreign interest companies with the relevant licenses took place. This event was a continuation of a previous hybrid seminar, which included both online training and a practical component and occurred on October 6, 2023, also in the law office.
The seminar was conducted by lawyer Semen Pogosyan and lawyer and specialist of the Cyprus Securities and Exchange Commission (CySEC), Angelina Alyabyeva.
The event paid special attention to practical aspects of relocation, including legal and tax aspects, licensing procedures, and the analysis of typical problems and their solutions.
The seminar brought together representatives of various companies who showed interest in the issues of relocating employees to Cyprus, as well as representatives of legal firms. Participants had the opportunity to ask questions and discuss the complexities and nuances of this procedure.
The event proved to be very useful for all those in attendance, providing them with valuable knowledge for their future work in this area.
Key takeaways from the seminar:
Foreign shareholders must own the majority of the company's shares and invest an amount equal to or exceeding €200,000.
The company must operate in independent offices in Cyprus and comply with relevant regulations.
The minimum gross monthly salary for highly skilled employees is €2,500.
Companies with foreign participation have the right to hire workers from third countries without additional procedures and applications to the Ministry of Labor.
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