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Cabinet approves Cyprus Startup Visa Scheme

The Council of Ministers approved on Wednesday 15 February 2017 the Cyprus Startup Visa scheme

 

This new program is expected to attract foreign investment in Cyprus from non-EU countries.

The scheme relates to the fields of research and innovation and applies to both individual and group investors. The investors from non-EU countries must establish companies with a minimum of 50.000 Euros capital and have their headquarters and tax residency in Cyprus. The investors must be university graduates and speak Greek or English well. A total of 150 two year licenses will be given.

Investors who will set up successful startups will be given license for permanent residence and work in Cyprus and will be allowed to employ a number of people and enjoy family reunion. This program is a welcome development that will help create jobs, bring investments and overall benefit the economy of the country.

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