IMMIGRATION & CITIZENSHIP

Abolition of Bank Guarantees

According to the recent amendment of the Aliens and Immigration Law, which took place on  6.12.2019, the requirement for employers to submit to the Civil Registry and Migration Department in Cyprus a bank guarantee for the purpose of granting temporary residence and work permits to a third-country national, has been abolished.  

Further to the aforesaid amendment, the employer will instead have to submit a confirmation letter by which they will confirm that they are bound to incur any costs for the employee’s removal if such removal is necessary.

In cases where a bank guarantee has already been provided, or the amount has been made available to the Civil Registry and Migration Department, then this will be refunded upon submission of the required confirmation to cover any potential removal costs by the employer.

The aforesaid applies to third-country nationals who:

  1. possess a valid residence and work permit;
  2. have submitted an application for employment to a new employer;
  3. remain illegally in the Republic;
  4. remain with the regime of the asylum applicant.

If the employer refuses or fails to bear the removal costs of the third-country national, then the Director of the Civil Registry and Migration Department shall take legal action against them for the purpose of receiving the owed amount and, whilst the employer fails to incur the removal costs no new applications shall be examined for the employer in question.

For the release of a Bank Guarantee which has already been submitted or for the return of the amount of Guarantee which is available to the Civil Registry and Migration Department, the employer shall submit their confirmation letter before the Civil Registry and Migration Department or before the relevant local authorities.

The content of this article is intended to provide a general guide to the subject matter and does not constitute legal advice.

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