On the 15th of October, 2021, the Council of Ministers approved the introduction of the Digital Nomad Visa Scheme in Cyprus, with a cap of 100 visas to be issued. The scheme was officially launched on the 15th of February 2022.
The “Digital Nomad Visa” scheme allows nationals from non-EU and non-EEA countries, who use technology to work remotely, to reside temporarily in Cyprus and work for an employer registered abroad or for companies or clients located abroad.
Individuals granted a Digital Nomad Visa have the right to stay in Cyprus for up to 1 year, with the right to renew for an additional 2 years. Such visa holders will have the right of family re-unification for their family members whereby a residence permit would be granted, following a successful application. The family’s residence permit would then expire when the digital nomad’s visa expires, as the visa holder acts as the family’s sponsor.
During their stay in Cyprus, the spouse or the civil partner of the person who is granted a Digital Nomad Visa, and the minors of their family are not permitted to work or engage in any kind of economic activity in Cyprus.
The scheme aims to strengthen Cyprus’ development as a hub for digital nomads aiming to benefit of the island’s many advantages.
Who can benefit
Non-EU or non-EEA nationals who:
- Can perform work remotely digitally;
- Are employed in a company registered abroad, for which they can work location-independently, or are self-employed offering services remotely for clients located abroad;
- Can prove that they have stable and sufficient monthly net income of at least €3500 (after the deduction of contributions and taxes).
What are the benefits
Individuals that are granted with a Digital Nomad Visa will benefit from the following:
- Right of residence for a year in Cyprus, with a possibility of renewal for further two years.
- Right of residence for family members, for the same period as the Digital Nomad, without the right to be employed of perform economic activity in Cyprus.
- If they reside in the Republic for one of more periods that in total exceed 183 days within the same tax year, then they are considered tax residents of Cyprus, provided they are not tax residents in any other country.
- Digital Nomad’s family members can reside in Cyprus for the same period as the Digital Nomad, without the right to be employed of perform any economic activity in Cyprus.
- Family members include the spouse/ partner in a civil union and children below the age of 18.
- Family members also need to obtain a temporary residence permit following the procedure below.
The time of examination is between 5 – 7 weeks.
Duration of Digital Nomad Visa
- The Digital Nomad Visa is issued with a validity of one year.
- On renewal, the Digital Nomad Visa is issued with a validity of maximum two years.
What we do
Panayiotis Z. Toulouras LLC provides corporate services to clients worldwide. Our law firm, with it’s team of experts, provides strategic advice for individuals and entities, seeking the foreign interest company route, and ensures a smooth transition for all clients aiming to relocate an existing business or launch a new business in Cyprus.
- Incorporation of a Cyprus company
- Registration of a Foreign Interest Company
- Digital Nomad Visa applications
- Launch and Setting up consultation
- Family reunification
- Employment agreements
- Purchase and/or rental of commercial and residential premises
- Applications for permanent and temporary residence
- Applications for naturalization
- IP registration
- Advice on all related tax aspects
- Opening of corporate and personal bank accounts in Cyprus and abroad
- VAT and TAX registrations
- Processing of investment and lending facilities
- Relocation assistance and advice