The Cyprus Startup Visa allows eligible non-EU / non-EEA / non-Swiss entrepreneurs to enter, reside and work in Cyprus for the purpose of establishing, operating or developing an innovative, high-growth startup.
The scheme is designed to support innovation, research, entrepreneurship and the development of Cyprus’ startup ecosystem.
Who is eligible?
The Startup Visa is available to eligible third-country entrepreneurs who intend to:
- Establish a new innovative startup in Cyprus;
- Operate or develop an innovative startup with high-growth potential;
- Conduct business and economic activity in Cyprus under the Startup Visa scheme;
- Apply individually or as part of a startup team.
The scheme may also allow eligible family members to obtain residence rights in Cyprus, subject to the applicable requirements.
Initial Approval
The first step is obtaining initial approval from the Deputy Ministry of Research, Innovation and Digital Policy.
The application is assessed on the basis of the proposed startup, its innovative character, business potential and the applicable requirements of the scheme.
A decision is normally issued within approximately 5 weeks from receipt of a complete application.
Once initial approval is granted, the applicant receives a notification confirming the approval and the right to undertake economic activity in Cyprus for two years, with the possibility of renewal for at least one additional year, subject to the applicable conditions.
Entry into Cyprus
Initial approval does not automatically provide a right to enter or reside in Cyprus.
If the applicant is outside Cyprus, an application for a visa or entry permission must generally be submitted within 6 months of receiving the initial approval.
Once approved, the applicant must arrange entry into Cyprus within the validity period of the relevant visa or entry permission.
Applicants Already in Cyprus
Applicants who are legally residing in Cyprus when the initial approval is granted must apply to the Migration Department within 1 month for registration and a temporary residence and employment permit for the establishment, operation or development of the startup.
The application is normally examined within approximately 3 weeks from the submission of a complete application.
The initial residence permit is issued for one year from the date of notification of the initial approval.
Visitors in Cyprus
If the applicant is in Cyprus under visitor status, a written request must first be submitted to the Migration Department for a change of residence status before submitting the Startup Visa residence application.
The request is normally examined within approximately 5 weeks.
Application Process
01. Startup Eligibility Assessment
We assess the proposed business, the applicant’s circumstances and the applicable Startup Visa requirements.
02. Initial Approval
We assist with the preparation and submission of the application to the Deputy Ministry of Research, Innovation and Digital Policy.
03. Entry / Residence Application
Following initial approval, we coordinate the appropriate entry visa or residence application depending on whether the applicant is outside or already legally residing in Cyprus.
04. Migration Department Application
The relevant application is submitted to the Migration Department in Nicosia, together with the required supporting documentation.
05. Biometrics & Examination
Applicants for a temporary residence and employment permit are required to provide their photograph, fingerprints and signature.
06. Residence & Work Permit
Upon approval, the applicant receives a temporary residence and employment permit allowing them to establish, operate and develop the startup in Cyprus.
Processing Time
- Initial Startup Approval: approximately 5 weeks
- Residence / Employment Application: approximately 3 weeks from complete submission
- Change of status from Visitor: approximately 5 weeks
Actual processing times may vary depending on the completeness of the application and the relevant authorities’ examination.
Government Fees
- Entry Permit & Temporary Residence Permit: €120
- Issuance / Renewal of Temporary Residence Permit: €130
- First Alien Registration: €70, where applicable
Validity
The initial approval provides the right to economic activity for 2 years, subject to the conditions of the scheme.
The temporary residence permit issued following initial approval is valid for 1 year, with renewal subject to the continuation of the applicable requirements.
Why Cyprus?
The Cyprus Startup Visa provides an opportunity for innovative entrepreneurs to establish and develop their business in Cyprus while obtaining a legal framework for residence and employment.
It can be particularly relevant for founders seeking access to the Cyprus and wider EU business environment, while developing a scalable and innovative business from Cyprus.
Our Support
M.S. MyConsultancy Services Ltd provides end-to-end assistance with the Cyprus Startup Visa, including eligibility assessment, coordination of the initial approval process, preparation of immigration applications, document certification and submission, communication with the relevant authorities, and support with residence and employment permits.
Build your startup in Cyprus. We help you navigate the immigration process from initial approval to residence.