Work permit and self-employment

Find out about the laws within the TRNC: Residency, Home Ownership, Work Permits, Visa's, Licenses, Speeding...etc.

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sultan78
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Work permit and self-employment

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Post by sultan78 »

Hello All,

I would like to ask if anyone is familiar at all with current requirements for obtaining work permit and for being self-employed?

We are a British family and planning to move to Northerm Cyprus, which is why we are trying to get grips with the workings of the system.

Any advice would be greatly appreciated.

Many thanks,
Katie

ozankoys
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Re: Work permit and self-employment

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Post by ozankoys »

As far as I am aware you cannot be self employed unless you are Cypriot. Your work permit has to be obtained by your employer.
If you are a family and planning to work here to earn enough money to live on, please reconsider very carefully unless you also have a private income - IMHO it will be impossible for you to survive on a legal basis. I am sure other members will agree with me sorry.

Deniz1
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Post by Deniz1 »

If you intend to run your own business you will need a cypriot partner to act as a sort of guarantor or you cannot get a work permit. The partner does not have to be active in the business.

gates
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Re: Work permit and self-employment

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Post by gates »

its a very expensive task and you pay more taxes than you earn you dont tell them how much you have earnt they tell you even if some months you have lost money

ozankoys
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Post by ozankoys »

Sorry to disagree with you Deniz but you do not have to have a Cypriot partner to have a company here depending what you want to do eg you cannot own property but you can be an Estate Agent. I think you have to lodge a very substantial bond.
Maybe Sultan has Cypriot relatives which opens lots of doors.
As Gates says they do not believe that you can lose money. We have lost count of the number of new shops & restaurants that spend a fortune on fixtures & fttings only to close after a few months.

sultan78
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Re: Work permit and self-employment

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Post by sultan78 »

Good morning every one, thanks for all replies and advices. I don't have any family or relatives there , therefore I have to do all of the start up hard work by my self and few friends that I have.
I have heard that if you have $100.000 us dolar in your account and if you have business plan ready then they will give you permission to work as a self employed but in returns the government will keep %10 of the money for certain period of time. Dose any body know if this is true?

Thanks in Advance

tomsteel
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Post by tomsteel »

sultan78. Why do you not seek official legal opinion, rather than posters' views? Be aware, the TRNC can be a cruel master for foreigners.

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Post by Keithcaley »

You will certainly need to employ an accountant to do your KDV (VAT) and other taxes (it's a legal requirement) so the accountant that you decide to use will be able to guide you through the maze, and explain the different options.

As tomsteel says, it's much more certain than canvassing opinions on a forum, where people may have only a partial knowledge of the system, or be offering information which is out of date - however well meaning they are...

ozankoys
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Post by ozankoys »

Yes absolutely agree with Keith (to be honest I normally do!) you need to employ an accountant to advise you. It is certainly right about the bond I had also heard it was $100,000 but when you get any of it back I do not know.
You really must investigate this very thoroughly preferably before moving your family over so many people have become unstuck here & had to go back to UK after losing a great deal of money do not trust ANYBODY & do not put all your eggs in one basket!
Imagine trying to do back flips through treacle that is what it is like here when you have to deal with officialdom.

sultan78
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Post by sultan78 »

Once again I greatly Appreciate all your times and efforts . Do you know any good accountants so I can give them a call?
Many thanks

Deniz1
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Post by Deniz1 »

Well an English friend of mine has his own business and he had to have a cypriot partner when he started up. He now has his citizenship so he can ditch the partner

ozankoys
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Post by ozankoys »

Deniz of course every situation is different maybe it was the type of business your friend was conducting that made a Cypriot partner necessary? Well done to them for now having a Kimlik it must have taken a huge amount of time & effort!

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Post by Keithcaley »

sultan78 wrote:Once again I greatly Appreciate all your times and efforts . Do you know any good accountants so I can give them a call?
Many thanks
You won't do any better than this one in Lefkoşa (Nicosia).

Deniz1
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Post by Deniz1 »

Yes it did Ozankoys time and money he had to get a police report from the uk but not the normal one a different one to the PTP one but of course he wasnt told that so another trip to the uk! All sorts of health checks here too.

sultan78
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Post by sultan78 »

Thanks every one

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Post by gillken »

What would happen if you worked illegally like so many others?
They all get away with it.

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Post by snd1966 »

gillken wrote:What would happen if you worked illegally like so many others?
They all get away with it.
Just don't get popular, then you will be shopped
Good advice too if you have no one depending on you but with children and school fees its a very big risk

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