Cyprus has made significant improvements to its Start-Up Visa Program to encourage innovation and attract entrepreneurial talent. Here are the main updates:
- Program Launch
- Starts on January 1, 2025.
- Extended Residence Permits
- Now valid for three years (previously two).
- Longer Renewal Period
- Renewals extended to two years.
- Lower Equity Requirement
- Reduced from 50% to 25%.
- Increased Foreign Workforce
- Allows up to 50% foreign workers.
- Investment Incentives
- Investments of €150,000 enable additional foreign staff.
- Higher Evaluation Standards
- Priority for companies with €1M sales and high R&D.
- Job Creation Mandate
- Requires at least three new jobs for each company.
- Stage Flexibility
- Supports both early and mature start-ups.
- Economic Growth Focus
- Aims to diversify and boost Cyprus’s economy.
Explore More Opportunities! Contact us at visa@gogpl.in or dive into www.greenoutdoors.in for the latest details.