Cyprus Digital Nomad Visa Scheme: Reopening of Applications
The Deputy Ministry of Migration and International Protection officially, announced the reopening of applications for the Cyprus Digital Nomad Visa Scheme.
The maximum number of new permits that will be issued by the Civil Registry and Migration Department under the Digital Nomad Visa Scheme is set to 500.
This Scheme offers important opportunities for nationals from non-EU and non-EEA countries, who can reside temporarily in Cyprus while working remotely using Telecommunications Technology.
Eligibility
Eligible individuals under Digital Nomad Visa Scheme are non-EU or non-EEA nationals who:
- Work remotely through telecommunications technology.
- Are employed in a Company registered abroad, which allows for location-independent work or who are self-employed, offering remote services to clients based abroad.
- Demonstrate that they have stable and sufficient monthly net income of at least €3500. The amount increases in case the applicant is accompanied by family members.
Benefits of the Scheme
- It provides its holders the right to reside in Cyprus. In particular, Digital Nomad Visa is granted for a period of one year, with the possibility of renewal for an additional two years.
- Family members can also relocate to Cyprus and apply for a residence permit, which does not grant the right to employment or to perform economic activity in Cyprus.
- Holders of Digital Nomad Visa residing in Cyprus for over 183 days within a tax year, can be considered as Cyprus tax residents, provided they are not tax residents in any other country.
Why Cyprus?
Cyprus offers:
- A strong business environment.
- A high standard of living.
- Access to the EU market.
- An attractive tax regime.
- No withholding tax on dividend income.
- Access to world class education facilities.
Should you wish to find out more, contact us at info@paraschou.com.cy
