Employees who are third-country nationals will have the right to apply for naturalization after five (5) years of residence and work in Cyprus, or after four (4) years if they hold a recognized certificate of strong knowledge of the Greek language.
The transfer of social security contributions will also be ensured through intensified efforts to conclude bilateral agreements with third countries.
All the above proposals will be implemented as of 1st January 2022, with the exception of the citizenship and tax incentives, which are pending the necessary approval of various amendments in the legislation.
The aim is for the relevant legislation to be submitted to the House of Representatives by the end of December 2021, and to be approved in the first quarter of 2022.
The above is for informative purposes only. Further professional advice should be sought for each particular case. Our firm does not accept any responsibility for any loss or damage occurring by acting on the basis of this information.