The Council of Ministers approved the introduction of the Digital Nomad Visa Scheme in Cyprus, with a ceiling of 100 residence permits to be issued. On March 3 2022, the Council of Ministers increased the ceiling to 500 residence permits.
The “Cyprus Digital Nomad Visa” Scheme allows nationals from non-EU and non-EEA countries, who can perform their work location-independently using telecommunications technology, to reside temporarily in Cyprus and work for an employer registered abroad or perform work through telecommunications technology for companies or clients located abroad.
The Scheme can benefit non-EU or non-EEA nationals who:
- Can perform work remotely through telecommunications technology;
- Are employed in a company registered abroad, for which they can work location-independently, or are self-employed offering services remotely for clients located abroad;
- Can prove that they have stable and sufficient monthly net income of at least €3500 (after the deduction of contributions and taxes).
Individuals that are granted with a Digital Nomad residence permit will benefit from the following:
- Right of residence for a year in Cyprus, with a possibility of renewal for further two years.
- Right of residence for family members, for the same period as the Digital Nomad, without the right to be employed of perform economic activity in Cyprus.
- If they reside in the Republic for one of more periods that in total exceed 183 days within the same tax year, then they are considered tax residents of Cyprus, provided they are not tax residents in any other country.
Digital Nomad’s family members can reside in Cyprus for the same period as the Digital Nomad, without the right to be employed of perform any economic activity in Cyprus.
A first temporary residence permit is issued with a validity of one year and in case of renewal, the temporary residence permit is issued with a validity of maximum two years.
For further information or to discuss your circumstances in a private consultation please contact us at troodia@infinitum.law or at christoforos@infinitum.law.
This article is for information purposes only and does not constitute advice.