Cyprus Work/Startup Visa, Residence Permit Policy Changes January 2025

As of January 2025, Cyprus has implemented significant changes to its visa policies, introducing new opportunities and requirements for various visa types. All new visa applications will now be processed under the scope of these updated regulations announced by Nikodemos Damianou (Deputy minister of research, innovation, and digital policy), which aim to enhance the country’s attractiveness to entrepreneurs, skilled workers, and their families.

So, this article outlines 4 major Cyprus visas changes that took effect from January 2025, providing applicants with a clear understanding of how they may be impacted and which visa types are affected.

The following sections define the key visa types impacted by the new policies and detail the specific changes introduced for each.

1# Startup Visa (Revised for 2025)

The Startup Visa is designed for entrepreneurs aiming to establish an innovative business in Cyprus. This visa enables individuals or teams to relocate to Cyprus and leverage its growing startup ecosystem. The updated policies make it easier for co-founders with smaller equity stakes to qualify and provide longer durations for permits and renewals.

Changes to the Startup Visa for 2025 onward:

• Lower Equity Stake Requirement: The minimum equity stake required for applicants has been reduced from 50% to 25%, making it easier for co-founders and smaller shareholders to apply.
• Extended Residence Permits: Startup visa holders will now receive permits valid for three years instead of two. Renewal durations have also been extended from one to two years.
• Objective Renewal Criteria: Clear benchmarks for visa renewals have been introduced, including:
• 1. Achieving at least 15% revenue growth.
  2. Securing investments of €150,000 or more.
  3. Creating a minimum of three new jobs in Cyprus.
  4. Introducing a product or service to the market or participating in local innovation programs.
• Increased Foreign Workforce Allowance: Startups can now hire up to 50% of their workforce from abroad, up from the previous 30%.

2# Cyprus Work Visas for Foreign Employees Amendments 2025 

This visa allows non-Cypriot nationals to work for companies operating in Cyprus. The updated policies expand the opportunities for startups and businesses to hire skilled workers from around the globe.

Changes to Work Visas for 2025 onward:

• Enhanced Access to Foreign Talent: Companies investing €150,000 or more in Cyprus can now hire additional foreign personnel without prior limitations.
• Alignment with EU Wage Standards: Work visa holders will benefit from improved wage protections, aligning with recent updates to EU labor directives. These protections ensure fair pay and compliance with European labor standards.

3# Residence Permits for Dependents

Dependents of primary visa holders (e.g., spouses and children) can live in Cyprus under this permit. The updated policies ensure that families relocating to Cyprus experience greater stability.

Changes to Residence Permits for Dependents for 2025 onward:

• Extended Validity Periods: Dependents’ permits are now aligned with the validity period of the primary applicant’s visa, offering longer durations of residence.
• Improved Family Stability: The changes make Cyprus more attractive for families by reducing the need for frequent permit renewals.

4# Investor and Innovation-Driven Visas

This visa is designed for individuals investing in Cypriot businesses or driving innovation in the country. While no direct changes have been introduced for this visa type, holders benefit indirectly from the enhanced startup ecosystem.

Indirect Benefits for Investor and Innovation-Driven Visas:

• Improved opportunities for collaboration with startups due to the increased foreign workforce allowance.
• A more vibrant innovation ecosystem created by the updated startup visa policies

Summary: Which Cyprus Visa Types Are Impacted the Most in 2025?

The recent changes primarily impact the following visa categories:

• Startup Visa: Simplified ownership requirements, longer durations, and specific renewal benchmarks make this visa type the most significantly affected.
• Work Visas for Foreign Employees in Startups: Increased workforce flexibility and wage protections enhance opportunities for global talent.
• Residence Permits for Dependents: Extended validity periods align with the primary visa holder’s permits, making Cyprus more family-friendly.
• Investor and Innovation-Driven Visas: Indirect benefits from the improved entrepreneurial and innovation climate.

References

• https://www.gov.cy/en/service/apply-for-a-cyprus-startup-visa/
• https://www.gov.cy/media/2024/06/Practical-Guide-Startup-Visa.pdf
• https://thefuturemedia.eu/revamped-start-up-visa-scheme-to-boost-cyprus-innovation-landscape/
• https://www.investcyprus.org.cy/.

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