There were changes to the Malta Residence and Visa Programme as per Legal Notice 189 of 2017 as below:
The programme of Cypriot “Startup Visa” (Startup Permit Scheme) was introduced in February 2017 and will operate till February 2019. The 2 year pilot programme shall attract talented entrepreneurs from third countries (outside EU and EEA). The programme consist of two parts: individual and team.
This Scheme is applicable to following under below mentioned conditions:
1. Individuals as Non-EU country nationals who:
2. Teams consisting of Non-EU country nationals:
Requirements of the Enterprise:
The enterprise must be innovative. The enterprise will be considered as innovative if its research and development costs represent at least 10% of its operating costs, in at least one of the three years preceding the submission of the application, as certified by an external auditor, on the basis of international accounting standards. In the case of a new enterprise without any financial history, the evaluation will be based on the Business Plan submitted by the applicant. The Business Plan must provide that the enterprise’s head offices and tax domicile be established in Cyprus. The head offices may be common co-working spaces (e.g. business accelerators, incubators, digital hubs etc.) or co-location with other enterprises.
Contact us for the application procedure details.