Cyprus is a country of new opportunities in a warm climate with beautiful landscapes. It is a European state open for business immigration, cooperation, investment and assistance. Increasingly, Cyprus is choosing to open startups, especially representatives of countries that are not members of the EU. Business immigration is supported by the local government, as successful projects boost both the Cyprus economy and its image.
Experts predicted real GDP growth in Cyprus at 2.8 percent per year from 2018 to 2021 due to investment activities. This trend indicates the country’s attractiveness for foreign business and investment immigration. A significant role in this is played by the opportunity to get a start-up visa to Cyprus along with a residence permit.
In Cyprus, the legislation regarding the development of start-ups is quite loyal. For potentially promising businessmen who promote innovative ideas and know how to implement them, there is a start-up visa to Cyprus. Moreover, venture capital investors can provide seed capital for founding an enterprise. For this, crowdfunding or other sources of financing are involved.
Cyprus Start-up Visa is a unique opportunity for progressive entrepreneurs to bring their innovative business idea to life. Entrepreneurs can get a real return on their ideas and become residents of a European country (together with their families). Along with an start-up visa, the businessman’s family also receives a residence permit in Cyprus according to a simplified procedure.
It is especially important to open a start-up visa in Cyprus to develop innovations and conduct research activities. Both the founder of a start-up company and its key managers (up to 5 people) can get visas. However, provided that headquarters are established for the enterprise.
What are the requirements for obtaining Cyprus Start-up Visa?
- Applicant must be at least 18 years old
- It is necessary to fill out an application in a special form
- Provide confirmation of the availability of the necessary funds for the start-up (20 thousand euros)
- Create a business plan for the start-up project
- Have knowledge of Greek or English
- Have a diploma of completed higher education.
If the start-up company already exists, the applicant must provide an audit report.
Since 2018, the government has been giving permanent permission to work and permanent residence in Cyprus if the project can establish itself as truly successful. This means that there is no time frame for the development of start-up businesses. The resident can work as long as necessary, thereby replenishing the start-up ecosystem of Cyprus. Moreover, start-ups have the right to accept foreigners to work in their companies.
Hence, investment immigration is very developed here. Foreigners can get a long-term residence permit in Cyprus, and after 7 years of living in the country, they can obtain Cypriot citizenship for themselves and the whole family.
But that is not all. To attract foreign investment and replenish the Cyprus economy by start-ups, the government decided to allocate 500 thousand euros for applicants for a Cyprus Start-up Visa. The Research Advancement Fund will allocate appropriate funds for progressive entrepreneurs who wish to participate in a start-up visa program to Cyprus.
Thus, in order to obtain permanent residence in Cyprus, it is enough to show the viability of the company and its promotion plan. The state gives progressive start-up founders and their families the right to stay in Cyprus for as long as it takes to develop the company. After 7 years in the Republic of Cyprus, a businessman can obtain citizenship of a European country.
The compact country of Cyprus is confidently following the latest technologies and innovations. The government created favorable business investment opportunities with the whole family. As in Canada, 5 co-owners / managers of a company can immigrate and obtain citizenship on one strat-visa visa in Cyprus. In both countries, there are venture funds for investing and developing your initial strategy at the initial stage.
Cyprus Startup Visa gives a unique chance to realize your idea and develop your own business in Cyprus. Moreover, it is not even necessary to invest initial capital. A residence permit and the issuance of a start-up visa for the whole family according to a simplified system is a mandatory attribute of the program.
Do you have a working, innovative idea and a dream to live in a developed European country? Fill out an application for a start-up visa to Cyprus and make your dreams come true!