End of an EU era

[mike strand2]

Now that we know "BREXIT's going to get done", does anyone know exactly when us Brits will officially cease to be citizens of the European Union?

[trevnhil]

I think I have read that it will be done by the 31st of January..... But they said that about the end of October

[Dominic]

Plus there is the transition.

[josef k]

As I understand it, we cease to be EU citizens after 31 January. Given the UK government majority I don't see this being postponed any further. At that point we will be in the transition period. The UK government say this won't be any longer than the end of 2020. However, EU rules allow for it to go into 2022. This period allows the UK government and the EU to negotiate their future relationship, which comes into effect after the transition period.

Our status, being already residents of Cyprus prior to the UK leaving (if you are, that is), remains unchanged during the transition period.
The Cyprus government have stated that, following the transition period, those UK citizens who have residence will be able to exchange their residence document (yellow slip) for a new document, possibly a card rather than an A4 sheet, and continue to live in Cyprus as they do now. My assumption is, given that the Cyprus government document does not go into detail on "living as they do now", that this includes the right to work and also the right to have healthcare provided under the Gesy system. Movement to another EU country, permanently or for holiday, is a different matter and likely to be determined during the UK/EU negotiations.

New arrivals after 31 Jan will have a different set of immigration rules applied to them, also likely to be determined during the UK/EU negotiations, so can't assume any of the above will apply to them.

I emphasise that the above is my understanding, not necessarily gospel.

[Dominic]

This raises another question. Currently somebody from the UK can form a limited company here just by getting an accountant to process the paperwork. When we are third country nationals, will the process by any more complicated?

For example, does anybody know if somebody from, say South Africa, can set up a LTD company in Cyprus without going through a ton of hoops?

[Devil]

Before EU, you could set up a partnership or one-man registered Co. but you needed a Cypriot on the board for a Ltd, if I remember correctly (co-founded a Ltd in the 1990s, but I later withdrew because it changed direction).

[Dominic]

This is why I was asking.

[Kili01]

Yes, Devil. Like you I was here for several years (in my case) before Cyprus joined the EU.
I remember then that any Brit wanting to set up a company or any business needed a Cypriot partner, active or sleeping, This put off a number of our countrymen from either coming to live in CY and if someone did, it could be tortuous. It was also not easy for our nationality to get a work permit, unless if my memory is correct his Cypriot employer initiated or supported his application.
I guess in due course all things will become clearer perhaps post Brexit..
Dee

[LouiseCastricum]

Not just Brits Kili01, but all other nationalities as well. As far as I remember the Cypriot partner had to own 51% of the company.

[Yioula]

Before the EU and non- Cypriot could only own a business if the partner was Cypriot the split bring 49/51 % the Cypriot with 51%
It will be interesting what the future holds ........

[Kili01]

Yes, the situation was difficult then, with the result that few Brits were owning (part owning) a business in Cyprus prior to Cyprus joining the EU and having to adopt EU laws.
In fact anything which involved the Immigration Dept could be difficult.
Not a scare story but was a fact.
Lets see what happens once we have left the EU.
Dee

[Dominic]

Yes, but does anybody know what the situation is now?

[Devil]

Yes, but does anybody know what the situation is now?

NO! And if anyone thinks he knows, take what he says with a large pinch of NaCl.

[Dominic]

You are all missing the point. I am not talking about the UK. I am asking if anybody knows if a third country national can set up a company in Cyprus?

[Devil]

You are all missing the point. I am not talking about the UK. I am asking if anybody knows if a third country national can set up a company in Cyprus?

See my first post above.

[Dominic]

So are you saying that a third country national today will not be able to form a limited company in Cyprus without a Cypriot on board?

[Kili01]

Why don’t you ask the Labour and Immigration Depts?
I doubt if anyone else can give an answer to this at present.Though I wouldn’t be surprised if wealthy Russians may be able to find ways. I’ve also noticed that when foreign Oligarchs want to start a big development project in Cyprus they seem to be working with a Cypriot Company as a partner.
Once the UK has left the EU on 31st Jan as Boris plans, I’m sure that we will be told in due course.

Dee

[Yioula]

We are at present EU citizens so I would imagine the same rules should apply until we actually leave but we are not the flavour of the month with other EU countries and they could apply any rules they see fit .......

[PhotoLady]

As Devil has said, it was always the case that it was required any non-Cypriot wishing to start a business prior to the EU membership, they had to have a Cypriot partner holding the maximum share of the company.
It wouldn't surprise me if that's what will happen again.
Why not check what the current situation is, say for a Russian or other non- EU country citizen?
Nothing would surprise me that the law will revert back for British citizens after Brexit...

[Dominic]

Why not check what the current situation is, say for a Russian or other non- EU country citizen?

That is exactly what I am asking.