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What flexibility can I enjoy in terms of work eligibility and travel throughout the European Union as a Cyprus start-up visa holder?

I want to apply for the start-up visa but want to know if this will allow my business to expand to other countries as well. Can it be an EU-wide firm that is based in Cyprus? How can I start to make this kind of endeavor using this visa option?


Answers
  • Costas Indianos & CO – Advocates & Legal Consultants
    August 30, 2019

    The list of benefits provided by the start-up law does not provide an all-EU visa access. Therefore the visa applies for the Republic of Cyprus. It gets: right to economic activity and residence in the Republic for one year, and with the possibility of renewal for at least another year; right to self-employment or right to paid employment in his/her registered company within the republic; prospective residence in the republic without any maximum time restrictions, if the enterprise succeeds; prospective recruitment of specific number of personnel from non-EU countries without prior approval of the Department of Labor, in case of success of the enterprise. The success or failure of the enterprise will be assessed at the end of the second year.

  • CHRISO SAVVA LLC
    August 30, 2019

    The business visa will not entitle to you to travel freely throughout the European Union.

  • CA Advocates (Pourgoura & Aspri LLC)
    August 30, 2019

    The resident permit visa in Cyprus does not allow you to travel to another European country without applying for a visa since Cyprus in not part of the Schengen treaty. However, your Cyprus company will have all the benefits of a European country, free movement of goods as well as the VIES benefits (the VAT charges).