Cyprus will issue nationality to specialists after 5 years
The Ministry of Finance of Cyprus considers the idea of providing nationality to heads and highly-skilled employees from the third countries which work in the sector of high technologies.
According to the Cyprian news edition which refers to own sources in the Ministry of Finance, the Cyprian passports are going to issue after five years of residence in the country.
According to laws of the republic, the foreigner has the right to submit the application for obtaining nationality on naturalization only in seven years of legal and continuous accommodation in Cyprus.
The government of Cyprus is not going to revive the program of nationality for investments after the scandal connected with it in world media. They decided to develop the sector of high technologies actively. For this purpose officials draft new laws, enter tax benefits and incentives. Some companies from abroad already transferred head offices to Cyprus, many just consider this possibility.
At the same time the companies from IT sector especially sharply feel the shortage of highly qualified personnel. The Ministry of Finance considers that reduction of the period of expectation of the Cyprian passport from seven to five years can help to solve a problem.
Representatives of the companies from the sphere of high technologies urge the authorities of Cyprus to make changes to the legislation to attract and hold for long time of the specialists ready to move to Cyprus on the permanent residence with families.
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