Eligible Companies:
The Cyprus Startup Visa is designed for innovative entrepreneurs looking to bring new or groundbreaking products and services to the market. This visa supports startups with high-growth potential and a focus on innovation at their core.
Application process
Submit to the Ministry of Research, Innovation, and Digital Policy:
- Send application to the Ministry of Research, Innovation, and Digital Policy.
- Business Plan required (15+ pages).
Migration Department – Residence Permit Visa
- Inform Migration Department within 6 months of approval.
- Send visa application to the Migration
Department.
Reviewing Period:
The reviewing period is expected to take between 3-4 weeks
Residence Permit Duration:
Applicant can apply for a 2-year work permit (renewable for at least 1 year).
Required Documents
Before arrival:
Ministry of Finance Initial Approval (issued within 6 months).
Proof of €10,000 in funds for living expences.
Passport (valid for 2+ years).
Criminal Record certificate.
Blood tests and chest X-ray.
Bank guarantee for repatriation expenses (10-years validity).
After arrival:
Original Entry Permit (M70).
Copy of passport with last entry into Cyprus.
Blood tests and chest X-ray.
Health insurance certificate covering inpatient, outpatient care, and corpse transportation.
Proof of property ownership or rental agreement.
Frequently Asked Questions
What is the Cyprus Start-up Visa?
The Cyprus Start-up Visa is a residence and work permit scheme designed for innovative entrepreneurs who intend to establish or relocate a startup with high growth potential and an innovation-driven business model in Cyprus.
Who is eligible to apply for a Cyprus Start-up Visa?
The scheme applies to founders of innovative startups proposing new or ground-breaking products or services. Eligibility is assessed primarily on the innovation element and scalability of the business idea.
What is the first step in the Start-up Visa application process?
The first step requires submitting an application to the Ministry of Research, Innovation, and Digital Policy, including a detailed business plan of at least 15 pages. The Ministry typically issues a response within five weeks.
What happens after approval by the Ministry?
Following approval, the applicant must notify the Migration Department within six months and submit a residence permit application. The Migration Department review usually takes three to four weeks.
How long is the residence and work permit valid?
Successful applicants may apply for a two-year residence and work permit, which may be renewed for at least one additional year, subject to continued compliance with the scheme’s requirements.
What documents are required before arriving in Cyprus?
Key documents include the Ministry’s initial approval, proof of €10,000 in funds for living expenses, a valid passport, criminal record certificate, medical test results, and a bank guarantee covering repatriation expenses.
What documents are required after arrival in Cyprus?
After arrival, applicants must submit the original Entry Permit (M70), passport copies showing the latest entry, updated medical tests, valid health insurance, and proof of accommodation in Cyprus.
Does the Cyprus Start-up Visa allow the holder to work in Cyprus?
Yes. The Cyprus Start-up Visa includes the right to work and actively manage the approved startup in Cyprus for the duration of the residence permit.
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