Intra-Corporate Transfer in Cyprus

Intra-Corporate Transfer in Cyprus

Cyprus has become an increasingly attractive destination for businesses and professionals looking to expand their operations within the European Union. One of the key pathways facilitating this is the Intra-Corporate Transfer (ICT) scheme, which allows companies to transfer employees from their foreign branches to their Cypriot counterparts. This article will explore the benefits, requirements, and procedures associated with the ICT scheme, providing valuable insights for businesses considering this opportunity.

What is the Intra-Corporate Transfer Scheme?

The Intra-Corporate Transfer scheme is designed for managers, specialists, and trainee employees who are being transferred from a non-EU branch of a company to a branch in Cyprus. Under this scheme, eligible employees can reside and work in Cyprus while maintaining their employment relationship with the parent company.

Benefits of the ICT Scheme

1. Access to European Markets: By transferring key personnel to Cyprus, companies can enhance their operational capacity and access broader European markets.
2. Streamlined Process: The ICT scheme simplifies the process of relocating employees, allowing companies to focus on their core business activities rather than navigating complex immigration regulations.
3. Family Reunification: Employees with an ICT permit can bring their family members to Cyprus, who will receive residence permits with similar validity. This provision enhances employee satisfaction and stability.
4. Equal Treatment: Holders of an ICT permit enjoy equal treatment in terms of social security and access to goods and services, making it easier for them to integrate into Cypriot society.

Eligibility Requirements

To qualify for the ICT scheme, employees must meet certain criteria:

• Duration of Employment: Employees must have been employed by the company for a minimum period—12 months for managers and specialists, and 6 months for trainees—prior to their transfer.
• Valid Employment Contract: A valid employment contract with the company is required, ensuring that the employee’s role aligns with the company’s operations in Cyprus.
• Compliance with Local Laws: The transferring company must comply with Cypriot labor laws and regulations during the transfer process.

Application Process

The application process for obtaining an ICT permit involves several steps:

1. Notification: The parent company must notify the Civil Registry and Migration Department about the employee’s intention to work in Cyprus.
2. Documentation: The notification must be accompanied by relevant documents, including proof of employment duration, a valid employment contract, and details about the Cypriot branch.
3. Permit Issuance: Upon approval, the employee will receive an ICT permit that allows them to work in Cyprus for a specified duration.
4. Family Reunification Application: If applicable, family members can apply for residence permits concurrently with the main applicant.

The Intra-Corporate Transfer scheme presents a strategic opportunity for companies looking to expand their presence in Europe while facilitating smooth transitions for their key employees. With its favorable business environment, Cyprus continues to attract international businesses seeking growth and innovation.At Hadjivangeli & Partners, we specialize in corporate immigration services and can assist your business in navigating the complexities of the ICT application process. If you are considering expanding your operations in Cyprus or need guidance on immigration matters, do not hesitate to contact us for professional advice tailored to your needs. This article provides a comprehensive overview of the ICT scheme while promoting Hadjivangeli & Partners’ services in corporate immigration. Let me know if you would like any changes or additional information!

This publication has been prepared as a general guide and for information purposes only. It is not a substitution for professional advice. One must not rely on it without receiving independent advice based on the particular facts of his/her own case. No responsibility can be accepted by the authors or the publishers for any loss occasioned by acting or refraining from acting on the basis of this publication. This article is for informational purposes only. For further advice, please contact us at the contacts listed on the site.