Regarding the Cyprus start-up visa scheme, according to the decision of the Council of Ministers passed on the 15th February 2017, via which it has set the policy for the entry and employment of third-country nationals in innovative start-ups established in Cyprus, indeed the scheme shall be implemented on a pilot basis for two years, during which time up to 150 initial residence permits can be issued. Therefore, the two-year period for the Cyprus start-up visa scheme shall expire on the Feb. 15, 2019. In the absence of a relevant update or an announcement in relation to the matter, the Ministry of Interior accepts and shall accept new applications until the Feb. 15, 2019. At the moment, there is no indication as to the continuance of the scheme, after Feb. 15.
What is the status of the Cyprus start-up visa?
I am interested in the start-up visa option that requires 50,000 euros as capital in exchange for a two-year residency visa. However, isn’t that program expiring soon after its trial run? Is it being continued? Is the program still limited to 150 visas? Are any left?
The cap of 150 applications has not been reached yet. Therefore, you may apply until the deadline, which is mid-February. The program might be extended, but an official decision has not been made yet.
The start-up visa program is still available as of today and will be Feb. 19, 2019. This is due to the initial decision of the Council of Ministers, passed on the Feb. 15, 2017. As of today there was no official report of the government that the cap of 150 applications was reached. Furthermore, the relevant ministry did not announce that they will initiate the second phase of this program. An announcement shall be expected before the Feb. 15, 2019.
There is a limit of 150 applications that have not yet been filled. The applications for same shall expire on the Feb. 15, 2019. There is no indication as to whether such a scheme shall continue after that date, but it is very likely.