Cyprus Startup Visa Scheme for Tech Founders
Step-by-step route to launch an innovative technology business in Cyprus: eligibility, RIF evaluation, capital thresholds, hiring foreign engineers and path to permanent residency.
Submit business plan for Innovation Certification to Research and Innovation Foundation (RIF)
The enterprise must qualify as innovative: at least 10% of operating expenses in one of the past three years must represent R&D expenditure (or certified by an external auditor for startups). The business plan must illustrate viable commercialization and intellectual property development from Cyprus.
Satisfy capital and language requirements
Individual founders must show available capital of at least €20,000 (or €50,000 for a team of up to 5 co-founders). Founders must hold a recognized university degree or professional equivalent and demonstrate fluent proficiency in Greek or English.
Apply for Residence Permit at Civil Registry and Migration Department (CRMD)
Once RIF issues the Positive Evaluation Certificate, founders submit entry and temporary residence applications. The permit is issued for 1 year, renewable for a second year subject to meeting startup milestones, and enables family reunification.
FAQ
Can founders hire foreign developers under the Startup Visa?
Yes, successful enterprises can recruit up to 3 non-EU specialized staff (engineers, product leads) without undergoing standard Ministry of Labour local market testing, provided employment terms comply with Cyprus statutory minimums.