Cypriot Startup Visa: Challenges and Opportunities for Entrepreneurs

Cypriot Startup Visa: Challenges and Opportunities for Entrepreneurs


Table of Contents

Article title: Cypriot Startup Visa: Challenges and Opportunities for Entrepreneurs

Content length: 1361

Number of h2 tags: 0

Cyprus Startup Visa: Low Approval Rates, Ongoing Efforts to Develop the Program

The Cypriot government has approved only 4 out of 51 Startup Visa applications received last year, indicating an approval rate of around 8%. The Startup Visa program is set to run until May 2024, with a potential capacity of 150 approvals.

The program offers two options: the Individual Startup Visa Scheme and the Team Startup Visa Scheme. Approved applicants receive a 2-year (renewable) residence permit, which can be converted to long-term residency if the startup proves successful. Applicants must submit a detailed business plan that undergoes stringent evaluation.

The low approval rate may be due to the program's rigorous criteria. The Cypriot government recognizes the need to develop these initiatives further and transition the startup ecosystem from a "growing stage to a more mature one."

Alongside the Startup Visa, Cyprus is also reorganizing its immigration framework, including a proposed €250,000 residency by investment program and a new 3-year fast-track to citizenship.

As Cyprus continues to refine its Startup Visa program, it can learn from other examples worldwide, such as Canada's rapidly growing but now backlogged program.


You might also like
Budget-Friendly Digital Nomad Hubs for 2025

Budget-Friendly Digital Nomad Hubs for 2025

15 Nomad Cities for Under $1,000 a Month in 2025: The Ultimate Budget Travel Guide Introduction to Budget Digital Nomad Destinations The digital nomad lifestyle continues to evolve, offering unprecedented...   Keep Reading →


  • Budget-Friendly Digital Nomad Hubs for 2025

    Budget-Friendly Digital Nomad Hubs for 2025

    Discover 15 budget-friendly **digital nomad hubs** for 2025 where you can live on under $1,000/month. Explore affordable destinations in Southeast Asia, Eastern Europe, Latin America, and more.

    Budget-Friendly Digital Nomad Hubs for 2025

    Discover 15 budget-friendly **digital nomad hubs** for 2025 where you can live on under $1,000/month. Explore affordable destinations in Southeast Asia, Eastern Europe, Latin America, and more.

  • Travel Tuesday 2024: Scoring Incredible Deals

    Travel Tuesday 2024: Scoring Incredible Deals

    Discover incredible travel deals on Travel Tuesday 2024 with this comprehensive guide. Learn about airfare discounts, accommodation offers, and expert booking tips to maximize your savings.

    Travel Tuesday 2024: Scoring Incredible Deals

    Discover incredible travel deals on Travel Tuesday 2024 with this comprehensive guide. Learn about airfare discounts, accommodation offers, and expert booking tips to maximize your savings.

  • Underrated Digital Nomad Hubs: Discover Hidden Gems for Remote Work

    Underrated Digital Nomad Hubs: Discover Hidden Gems for Remote Work

    Discover underrated digital nomad hubs with affordable living, reliable connectivity, and vibrant local culture - the ultimate guide to remote work beyond the beaten path.

    Underrated Digital Nomad Hubs: Discover Hidden Gems for Remote Work

    Discover underrated digital nomad hubs with affordable living, reliable connectivity, and vibrant local culture - the ultimate guide to remote work beyond the beaten path.

  • 15 Affordable Digital Nomad Hubs for 2025

    15 Affordable Digital Nomad Hubs for 2025

    Discover 15 budget-friendly digital nomad hubs for 2025 where you can live and work abroad for under $1,000 per month. Explore affordable destinations with reliable infrastructure and vibrant expat communities.

    15 Affordable Digital Nomad Hubs for 2025

    Discover 15 budget-friendly digital nomad hubs for 2025 where you can live and work abroad for under $1,000 per month. Explore affordable destinations with reliable infrastructure and vibrant expat communities.

1 of 4