The Republic of Cyprus, has introduced in October 2021, a new visa scheme, “The Digital Nomad Visa”, in order to attract third-country nationals to apply for a residence permit in Cyprus allowing them to work remotely from Cyprus.
Any non-European Union or non-European Economic area national may apply for the Digital Nomad Visa as long as they satisfy the below criteria:
- They can work remotely
- They are employed by a company registered out of Cyprus or self-employed providing services remotely to customers located out of Cyprus
- They can prove sufficient and stable monthly net income (after the deductions of any contributions and taxes) of EUR3.500 in order to finance their stay in Cyprus. The above amount is increased by:
- 20% if accompanied by spouse
- 15% for each additional child
Within 3 months from the date of arrival, the applicant must submit the relevant application along with all supporting documentation. Individuals who legally reside in the Republic under a different status have also the right to proceed with the submission of an application for obtaining a temporary residence permit under the Digital Nomad status.
- the right of residence in Cyprus for 1 year with the possibility of renewal for a further 2 years;
- the right of residence for their family members for the same period of time as the permit of the Digital Nomad, without, however, family members having the right to work or perform economic activity within Cyprus
- the right to gain Cyprus tax residency and be eligible to a number of tax benefits, as per the provisions of the existing 183-day tax residency rule or the 60 day rule (Non-Dom Status)
The period for examining an application lasts between 5-7 weeks.
This article is for informative purposes only and it is not to be taken as a legal advice. For more information please contact Mr. Andreas Christoforou ([email protected])