Empowering Entrepreneurs in Cyprus

The Cyprus Startup Visa Scheme is your gateway to innovation, enabling entrepreneurs from non-EU and non-EEA countries to establish, relocate, or expand their innovative startups in Cyprus. With a robust entrepreneurial ecosystem and access to European markets, Cyprus provides an ideal environment to transform your vision into reality.

Why Choose Cyprus for Your Startup?

  • Strategic Location: Gateway to Europe, Asia, and Africa.
  • Innovation Ecosystem: A thriving hub for research, innovation, and entrepreneurship.
  • Supportive Policies: Flexible visa schemes and business-friendly regulations.
  • Access to Talent: Recruit skilled professionals, including foreign employees, with minimal restrictions.

Key Features of the Cyprus Startup Visa Scheme

  1. Eligibility:
    • Open to individuals or teams from non-EU and non-EEA countries.
    • Founders must hold at least 25% of the company’s shares.
    • Innovative startups must focus on new or disruptive products, services, or processes.
  2. Residency Benefits:
    • Initial Permit: 3 years, with a renewal option for an additional 2 years.
    • Family Inclusion: Spouses gain labor market access; dependents are covered.
  3. Enhanced Flexibility:
    • Increased foreign employee recruitment threshold: Up to 50%.
    • Additional hires allowed for startups investing €150,000+ in Cyprus.
  4. Tailored for Growth:
    • Evaluation based on a business plan graded for innovation, scalability, and feasibility.
    • Established startups with €1M+ annual revenue enjoy streamlined evaluation.
  5. Re-evaluation Opportunities:
    • Renewal applications are assessed for revenue growth, investments, or new job creation.

Application Process

  1. Prepare Your Documents:
    • Business plan meeting DMRID standards.
    • Proof of funds: €25,000 (individual) or €50,000 (team).
    • Supporting certificates for innovation and R&D expenses.
  2. Submit Your Application:
    • Submit your Application
    • Attach all required documents, including external auditor certificates (if applicable).
  3. Receive Initial Approval:
    • Notification is issued within 5 weeks for successful applications.
    • Begin the visa and residency permit process.

How We Can Help

Our expert services include:

  • Drafting and submitting your business plan tailored to the evaluation criteria.
  • Ensuring compliance with financial and eligibility requirements.
  • Assistance with document preparation, submission, and follow-ups.
  • Guidance through the residency and work permit process.

Contact us

Take the first step toward launching your startup in Cyprus. Contact us today for a personalized consultation and let us help you bring your innovative ideas to life.

Contact details

Tel. +357 22 340000

Email: [email protected]

The authors expressly disclaim all and any liability and responsibility to any person, entity, or corporation who acts or fails to act as a consequence of any reliance upon the whole or any part of the contents of this publication.

Accordingly, no person, entity, or corporation should act or rely upon any matter or information as contained or implied within this publication without first obtaining advice from an appropriately qualified professional person or firm of advisors, and ensuring that such advice specifically relates to their particular circumstances.