The Republic of Cyprus has announced significant enhancements to its Cyprus Startup Visa Scheme, effective January 1, 2025. It is aimed at attracting innovative entrepreneurs, tech founders, and investors from non-EU and non-EEA countries who wish to establish and grow their businesses in Cyprus.
Apart from the creation of a new startup, the scheme also includes the relocation of an existing startup to Cyprus or the establishment of a branch of an existing startup in Cyprus.
KEY BENEFITS OF THE ENHANCED STARTUP VISA SCHEME
Reduced Financial Barriers
The required minimum share capital for startup founders has been reduced from 50% to 25%, allowing greater flexibility in ownership structures and easier access to the program.
Global Talent Access
Startups can now employ foreign workers constituting up to 50% of their total staff, enabling access to a broader talent pool and fostering diverse, skilled teams.
Extended Residence Permits
Residence permits under the scheme are now issued for three years, with the possibility of renewal, providing greater stability for entrepreneurs and their families. Spouses of entrepreneurs are also eligible for residency and employment rights, allowing for family reunification and seamless integration into the local economy.
Certificate of Innovative Company & Access to Funding
Startups that qualify under the Cyprus Startup Visa Scheme can obtain a Certificate of Innovative Company, a designation that enhances credibility and unlocks funding opportunities. Other eligible startups can access matched funding, R&D grants, and co-investment opportunities.
WHY CYPRUS? STRATEGIC ADVANTAGES FOR STARTUPS
Strategic Location
Situated at the crossroads of Europe, Asia, and Africa, Cyprus serves as a gateway to diverse markets.
Favourable Tax Regime
One of the lowest corporate tax rates in the EU, Cyprus provides a competitive fiscal environment.
The IP Box Scheme Tax Advantage
For startups focusing on research, innovation, or intellectual property, the IP Box Scheme offers a highly attractive tax framework. The scheme allows for an effective corporate tax rate as low as 2.5%, reduced from 12.5%.
Robust Legal & Business Infrastructure
English common law framework ensures transparency, while EU membership guarantees regulatory credibility.
Talent & Quality of Life
A multilingual, highly educated workforce meets diverse hiring needs. Ranked among the safest countries globally, Cyprus boasts Mediterranean living, top-tier healthcare, and prestigious international schools.
HIGHWORTH – YOUR TRUSTED PARTNER FOR STARTUP SUCCESS
Highworth.cy offers expert guidance to ensure your start-up meets the scheme’s requirements, providing comprehensive business advisory services to help you navigate every stage of your journey.
We deliver end-to-end support:
- Visa & Residency: Tailored application guidance to ensure compliance and speed.
- IP Optimization: Strategic structuring to capitalize on the IP Box Scheme, reducing tax liabilities.
- Company Formation: Incorporation, banking, and legal compliance handled within days.
- Post-Launch Growth: Access to grants, investor networks, and talent acquisition services to accelerate business expansion.