As part of the Council of Ministers' new strategy for attracting businesses and talent from abroad, a “Digital Nomad Visa Scheme” has recently been introduced, with a ceiling of 500 residence permits to be issued.
The Scheme’s goal is to strengthen Cyprus' position, as a center for provision of services, where in combination with the other advantages offered by Cyprus, the attraction of digital nomads will contribute to the development of the business ecosystem and hence to the economic development of the country.
In a nutshell, the Cyprus Digital Nomad Visa Scheme allows third-country nationals who can perform their work remotely, to reside temporarily with their families in Cyprus and at the same time work for an employer registered abroad (in case of an employee) or perform work for companies or clients located abroad (in case of a self-employed individual).
Third-country nationals can apply for a Cyprus Digital Nomad Visa if the following main conditions are satisfied:
- They can perform their work remotely through telecommunications technology;
- They are employed in a company registered outside of Cyprus, for which they can work remotely or they are self-employed offering services remotely for clients located outside of Cyprus;
- They can prove that they have stable and sufficient monthly net income of at least €3.500.
Benefits of the Scheme
Individuals that are granted with a Digital Nomad residence permit will have the right of residence in Cyprus for 1 year, with a possibility of renewal for a further 2 years.
Further, the family members of the individual can also obtain a residence permit in Cyprus for the same duration as the holder of the Digital Nomad Visa, however, they will not be allowed to be employed or perform any economic activity in Cyprus.
Family members include the spouse/ partner in a civil union and minor children.
Procedure to be followed
Individuals who are interested to apply for the Digital Nomad Visa, should enter Cyprus with a tourist visa. Within 3 months of their arrival in Cyprus, they should submit the relevant applications to the Civil Registry and Migration Department.
The time of examination of the applications is estimated to be anywhere between 5 - 7 weeks.
How KPMG Cyprus can assist
KPMG Cyprus has a specialised immigration team that can provide custom tailored assistance to individuals, by preparing and filing the Digital Nomad Visa application.
Further, as part of our service offering, assistance can be provided to the family members of the applicants with regards to their residence permit applications.
If any assistance or further clarifications are needed for this matter, please do not hesitate to contact our office.
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