The Cyprus Startup Visa is a residence and work permit scheme for non-EU/EEA entrepreneurs who want to establish, operate, or develop an innovative startup with high growth potential in Cyprus. It targets founders in high-tech sectors such as artificial intelligence, fintech, biotech, and green energy. The scheme is administered jointly by the Deputy Ministry of Research, Innovation and Digital Policy (DMRID), which evaluates business plans, and the Migration Department, which handles residence permits. Significant revisions took effect on 1 January 2025, extending permit durations, lowering the equity requirement, and expanding foreign workforce allowances. The scheme is renewed and valid until December 2026, with a cap of 150 visas.
The scheme does not impose a fixed minimum capital or personal-funds threshold. Instead, startups are classified by their revenue stage:
Acceptable funding sources include own funds, venture capital, crowdfunding, and other financing — there is no required bank balance for founders. Any additional foreign personnel hired by the startup must earn a gross salary of at least €1,500/month.
All documents must be submitted in English or officially translated and certified.
Initial Approval grants residence and the right to economic activity for 3 years (up from 2 years before January 2025), renewable for at least another 2 years. A renewal application should be filed at least 1 month before expiry, with proof of tax settlement and social insurance contributions. At renewal the startup is evaluated and receives one of three outcomes: "Scale-Up" (successful) granting unlimited residence and employment rights, "Intermediate Approval" with a 1-year extension and re-evaluation, or "Failure" resulting in permit revocation.
To pass renewal, the startup must demonstrate at least one of: 15% revenue growth, €150,000 in new investment attracted, creation of at least 3 new jobs in Cyprus, participation in a local innovation support scheme, or launch of at least one product or service.
Family reunification becomes available once the startup receives its successful final ("Scale-Up") evaluation. Spouses of visa holders gain free access to Cyprus's labour market for paid employment — a benefit expanded under the 2025 revisions.
As of 1 January 2026, Cyprus applies a 15% corporate tax rate (up from 12.5%). The IP Box regime can reduce the effective rate to 3% on qualifying intellectual property income, and R&D expenditure benefits from a 120% super-deduction extended through 2030. Stamp duty has been abolished, tax losses can be carried forward for up to 10 years, and withholding tax on dividends to resident domiciled individuals is 5%. Non-domiciled tax residents are exempt from the Special Defence Contribution on dividends, interest, and rental income for their first 17 years.
The process has two phases. In Phase 1, applicants email their business plan and documents to DMRID ([email protected]). Two independent evaluators score the plan across five criteria — international market significance, an innovative and expandable model, sustainable competitive advantage, management team quality, and intellectual property protection — and a minimum score is required for approval. DMRID issues a decision within 5 weeks. In Phase 2, approved applicants apply for entry and residence permits through Consular Authorities abroad or the Migration Department in Nicosia, processed within 3 weeks. Fees are €120 for the entry and temporary residence permit, €130 for permit issuance or renewal, and €70 for first-time Aliens' Registry registration.
The startup must keep its head office and tax domicile in Cyprus; co-working spaces, incubators, and business accelerators are acceptable locations. The company must be registered in Cyprus and comply with all local business registration and tax filing requirements. Upon Scale-Up status, startups can recruit up to 5 additional foreign workers (min. €1,500/month) without Labour Department approval, or up to 10 if they invest at least €150,000 in Cyprus. With Labour Department approval, up to 50% of total personnel may be foreign nationals.