- Cyprus aims to attract talented entrepreneurs from outside the European Union and European Economic Area.
- The government will allow approved applicants to live and work in Cyprus for up to three years, with an option for permanent residency.
- Entrepreneurs will establish and operate high-potential startups within the country.
- The program plans to create new job opportunities for the local workforce.
- Officials want to promote innovation and enhance the country’s business ecosystem through this initiative.
- This initiative aligns with “Vision 2035,” which positions Cyprus as a top destination for living, working, and conducting business.
- Cyprus ranks among the top 45 startup ecosystems worldwide, according to the StartupBlink Global Startup Ecosystem Index.
- The government provides incentives, such as a 50% tax exemption, to attract foreign talent.
- Deputy Minister Nicodemos Damianou emphasizes the program’s role in boosting innovation and generating jobs.
- The country will fully implement the initiative by the end of 2026.
Cyprus is taking strategic steps to position itself as a hub for innovation and entrepreneurship. By offering a supportive environment for startups, the country aims to foster economic growth and strengthen its global presence in the startup ecosystem.
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