Cyprus Startup Visa

Updated: February 19, 2026

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The Cyprus Startup Visa is a government scheme allowing talented entrepreneurs from outside the EU/EEA to enter, reside, and work in Cyprus for the purpose of establishing or relocating an innovative startup.

 

The initial residence and employment permit is granted for three years, with the possibility of renewal. The scheme is currently valid until December 2026.

The program is strictly available to third-country nationals (non-EU and non-EEA citizens).

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Purpose of the Cyprus Startup Visa scheme

The Startup Visa forms part of Cyprus’ national strategy to strengthen the entrepreneurial ecosystem and attract innovation-driven businesses to the country.

 

The objectives of the scheme include:

• Encouraging the creation and relocation of innovative startups

• Removing administrative barriers for founders

• Attracting international talent and investment

• Promoting a scalable, growth-oriented business environment

 

Cyprus positions itself as a strategic gateway between Europe, Africa, and the Middle East, offering access to EU markets within a competitive tax and regulatory framework.

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Categories of Cyprus Startup Visa

The scheme is available under two categories:

1. Individual Startup Visa

A third-country national applying as the sole founder of an innovative startup may apply under this category.

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2. Team Startup Visa

A team of up to five third-country nationals may apply jointly. The team must include at least one founder, while the remaining members may act as senior executives.

In both categories, the applicant(s) must hold at least 25% of the company’s share capital.

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Who is eligible?

The scheme is open to:

• Non-EU/EEA nationals

• Entrepreneurs who have already established, or are in the process of establishing, an innovative small enterprise in Cyprus

• Immediate family members (under family reunification rules)

Successful applicants receive residence and employment rights in Cyprus.

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Enterprise requirements

The proposed business must qualify as an innovative startup under EU standards.

This means the enterprise must:

• Develop new or significantly improved products, services, or processes

• Involve technological or industrial risk

• Demonstrate scalability and growth potential

• Generate new revenue streams or platform-based solutions

Innovation and international scalability are central evaluation criteria.

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Revenue-based application requirements

The documentation required depends on the revenue stage of the startup.

Startups with revenue under €1 million

Applicants must submit:

• A completed application form with supporting documentation

• A detailed business plan (maximum 15 pages)

The business plan is assessed by two independent evaluators (and a third, if required).

 

Startups with revenue of at least €1 million

Applicants must submit:

• A completed application form

• Most recent audited financial statements

• Certification from an external auditor confirming:

  • Revenue of at least €1 million

  • R&D expenditure of at least 10% of operating costs in one of the last three years

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Minimum income requirement

Self-employed applicants must demonstrate a minimum annual income of €10,000.

 

Application and evaluation procedure

Applications are submitted to the Migration Department of the Deputy Ministry of Migration and International Protection.

 

The Deputy Ministry of Research, Innovation and Digital Policy evaluates the innovative character of the business.

Key points:

• The evaluation period is approximately five weeks.

• Applicants must score at least 15/20 overall (minimum 3 points per criterion).

• A score of 12/20 results in rejection, with the right to resubmit once.

 

Recruitment of foreign personnel

Startup Visa holders may recruit foreign employees under simplified conditions:

• Up to five foreign employees without prior approval from the Department of Labour

• Minimum gross monthly salary: €1,500

• Residence and employment rights granted, renewable for two years

 

If the startup invests at least €150,000 in Cyprus, up to 10 additional foreign employees may be hired without prior approval.

Recent amendments allow foreign personnel to represent up to 50% of total staff (previously 30%).

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Key changes introduced in December 2024

The updated scheme introduced several improvements:

• Initial residence permit extended from two to three years

• Renewal period extended from one to two years

• Minimum shareholding reduced from 50% to 25%

• Relaxed rules on foreign employee quotas

These changes significantly enhance flexibility and long-term planning capacity for founders.

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Benefits of the Cyprus Startup Visa

Business advantages

• Full right of residence and employment

• Access to the EU single market

• English-speaking business environment

• Strong professional infrastructure (legal, accounting, advisory services)

• Competitive office rental costs

• Strategic geographic location

 

Corporate tax advantages

• Corporate tax rate of 12.5% (one of the lowest in the EU)

• Intellectual property (IP Box) regime with an effective tax rate as low as 2.5% on qualifying IP income

• No local income taxes, except municipal property taxes where applicable

 

Personal tax benefits

Cyprus offers attractive personal taxation:

• First €19,500 of annual income tax-free

• No income tax on:

  • Dividends

  • Interest

  • Gifts

  • Certain capital gains (subject to conditions)

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How Ermina Papasolomou Co & LLC can assist

At Ermina Papasolomou Co & LLC, we provide comprehensive legal support for entrepreneurs relocating or expanding to Cyprus.

 

Our services include:

• Eligibility assessment and strategic advice

• Preparation and submission of Startup Visa applications

• Company formation and corporate structuring

• Tax planning in cooperation with qualified professionals

• Ongoing immigration and compliance support

 

Whether you are launching a new venture or relocating an existing business to Cyprus, our team ensures a structured, compliant, and efficient application process.