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 introduction of the "Cyprus Startup Visa" is part of the Policy Statement on Strengthening the Entrepreneurial Ecosystem.
The "Cyprus Startup Visa" programme/ scheme allows talented entrepreneurs from countries outside the European Union (EU) and the European Economic Area (EEA), individuals or in 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 including access to €50,000, innovative enterprise, and the enterprise’s head offices and tax domicile be established in Cyprus.
Ministry of Finance, Civil Registry and Migration Department
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.
The introduction of the "Cyprus Startup Visa" is an action of the Policy Statement on Strengthening the Entrepreneurial Ecosystem and was prepared in cooperation with the Ministry of Interior, the Ministry of Labour, Welfare and Social Insurance, the Ministry of Finance and the Ministry of Energy, Commerce, Industry and Tourism and there was consultation with other relevant departments and StartUp Cyprus.