The Cyprus Startup Visa programme allows talented entrepreneurs from third countries from outside EU/EEA , individuals or a team, to enter, reside and work in Cyprus in order to establish/operate/develop a startup with a high growth potential, provided that they meet certain criteria.
The Council of Ministers, on Wednesday 15 February 2017, approved the Cyprus Plan for startups from third countries, the CYPRUS STARTUP VISA. The Scheme’s goal is the creation of new jobs, the promotion of innovation and research, the development of the business ecosystem and consequently the economic development of the country.
The programme/scheme will operate on a pilot basis for two (2) years from February 2017 to February 2019 . During this two year period 150 visas will be issued.
Non EU nationals who have access to the following qualify for the startup permit in Cyprus.
- EUR 50,000 capital funding, venture, crowdfunding
- Sole founder of business/shares
- Professional qualification of undergraduate degree
- Good knowledge of Greek or English language
The founders of the startup company are eligible for one year residence permit with renewals with right to self or paid employment. The startup enterprise must be innovative and must reach 10% of its operating costs. The Business Plan
must provide that the enterprise’s head offices and tax domicile be established in Cyprus . The head offices may be common co-working spaces (eg business accelerators,incubators, digital hubs etc) or co-location with other enterprises.
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