In Northern Cyprus, a 2-year temporary residence permit can be obtained through company registration, and the residence of the founding members of the company can be extended as long as the company is active and the insurance and related taxes are paid. You can also apply for permanent residence after a while.
By law, any economic activity in Northern Cyprus must be conducted within a registered company, and all bank accounts are under the microscope to prevent money laundering and any other irregularities. Even starting a simple shop requires a registered company. Although it is possible to do the work of several shops or other businesses with a registered company, there must be at least one registered company behind the scenes.
Normally, for Cypriots or Europeans, there are no specific restrictions or conditions for registering a company. However, if a person wants to stay in Iran by registering a company and opening a bank account, he must have the relevant items and the necessary preconditions, as well as pay the necessary expenses, otherwise no one will be given a residence permit.
To register a company in total, $ 120,000 must be available in a person’s bank account in Northern Cyprus for two to three months. $ 10,000 will be blocked in a person’s bank account for as long as the company is active and the owner of the company will have no access to it. The costs of registering a company, including administrative costs in Cyprus, the cost of an accountant, and the necessary licenses from various institutions, are estimated at around $ 7,000.
In general, two types of companies can be registered in Cyprus:
These types of companies can buy, sell, export, import, provide services and any other way to earn money. In other words, there are no restrictions on the activities of these companies.
These types of companies can only provide services and earn money through this, and if buying and selling is also done by these companies, it must be in line with the services they provide.
After completing the initial steps of registering a company, a current account will be opened in the name of the applicant in one of the Cypriot banks. Then the initial capital amount must be deposited in this account and the account balance certificate must be submitted to the Immigration Office for issuance of residence.
After receiving the residence, this money can be withdrawn from the account and the applicant can do whatever he wants with it, but it is better to really use this money for business and business.
For every company registered in Cyprus, in addition to the CEO and the Chairman of the Board, a legal secretary must be defined.
The secretary’s job is to receive legal letters and documents from the company, and if necessary, government authorities should be able to contact the company secretary and inquire about the company. The company secretary must be located at the registered and legal address of your company in Cyprus. If no one is held accountable by your company, your company will be dissolved by legal authorities and all accounts and residences taken will be dissolved.
You can rent an office in Cyprus and hire a full-time secretary to solve this problem. Obviously, this will cost you a lot of money.
According to the understanding of the needs and limitations of Iranian customers, the company registration and residence services of My Investment Company are provided as a complete package that includes the following:
1- Preparation of documents by the applicant
2- Signing a contract
3- Payment of advance payment
4- Delivery of documents for sending to Cyprus
5- Obtaining a visa for the applicant to travel to Cyprus
6- Initial registration of the company by a Cypriot lawyer
7- Applicant’s trip to Cyprus
8- Signing legal forms to complete the company registration process
9. Medical examinations in Cyprus
10- Preparing other legal documents for obtaining residency by a lawyer
11- Opening a bank account
12- Deposit the initial capital and get a bank certificate
13- Return of the applicant to Iran
14- Issuance of residence for the applicant
15- Sending the applicant’s residence cards to Iran
After receiving the residence permit, the applicant can enter Cyprus with that form without the need for a visa.
If the package fee is not paid in full, we will not perform other steps.
The mentioned documents must be delivered to our colleagues in full after signing the contract in Iran. Using these documents, the applicant company will be registered before he / she enters Cyprus. These documents include:
1- Completed form of foreign company registration questionnaire in Cyprus
2- Completed form for determining the name of the company
And For Each Applicant:
1- Color copy of passport with at least 2 years validity
2- Four pieces of color photos
3- Completed form of applicant’s details
4- Certificate of no criminal record, with official translation and stamp of the Embassy of Cyprus
5- Electricity or water payment receipt to prove the place of residence, with official translation and with the seal of the Cyprus Embassy
6- Bank financial report on account turnover and account balance in English (official translation) with the seal of the Cyprus Embassy
7- Official translation of the national card or identity card stamped by the Embassy of Cyprus
8. Last diploma, if available, official translation and stamp of the Embassy of Cyprus
9- Documents related to work history, if any, official translation and seal of the Embassy of Cyprus
For official translation, you must submit the original documents to the official translation agency and request translation and stamping
Translated by the Ministry of Foreign Affairs.
All documents must be submitted to the Cyprus Embassy in Tehran for approval. Obviously, documents that do not have the stamp of the Cyprus Embassy in Tehran will not be recognized in Cyprus and can not be used to register a company or obtain a residence permit. The Cypriot Embassy will approve the applicant’s documents for a fee.
The certificate of no criminal record must be obtained through the +10 police in Iran and then delivered to the translation agency for official translation.
All branches of private banks usually provide the applicant with a certificate of account turnover and balance in English. For older banks, you usually have to go to the special offices of the banks. Please contact your bank branch and say that you want a certificate of account and balance in English and for the embassy, they will guide you.
The official translation of the last degree and work history, although not a mandatory document, makes the case stronger. People who do not have these documents may only be granted a one-year residence permit, which must be renewed.