Digital Nomad Visa

Digital Nomad Visa

Cyprus Immigration Lawyers G. KOUZALIS LLC, would like to provide you with information for the Digital Nomad Visa.

Cyprus introduced this scheme in 2021 to attract remote workers who are employed by companies outside of Cyprus but want to live and work from within the country. This visa is ideal for digital nomads, freelancers, and remote workers who can work from anywhere in the world.

Key Features of the Cyprus Digital Nomad Visa

1. Eligibility:

1. Applicants must be non-EU nationals.
2. They must work remotely for an employer registered abroad, or be self-employed offering services to clients outside of Cyprus.
3. Proof of employment or self-employment is required.

1. Minimum Income Requirements:

1. The applicant must have a minimum monthly income of €3,500 (after taxes). This amount must be increased by:
   • 20% for a spouse/partner.
   • 15% for each dependent child.

1. Duration and Renewal:

1. The digital nomad visa is initially granted for 1 year.
2. It can be renewed for up to 2 more years (a total of 3 years in Cyprus).

1. Family Inclusion:

1. The visa holder can bring their family (spouse/partner and dependent children) to live with them in Cyprus.
2. However, family members cannot work or do business in Cyprus under this visa.
3. Dependents are granted residency for the same period as the digital nomad visa holder.

1. Tax Benefits:

1. Digital nomads who stay in Cyprus for less than 183 days per year are not considered tax residents and are exempt from local taxes.
2. If they spend more than 183 days in Cyprus, they become tax residents and may benefit from Cyprus’s favorable tax regime, which includes low personal income tax rates and other incentives.

1. Work and Residency:

1. Digital nomad visa Holders can live in Cyprus while working for UK, Scandinavia and any other non-European Countries.
2. They are not permitted to work for a Cypriot company or engage in any economic activities within Cyprus.

Application Process

1. Submit the Application: The application is submitted to the Civil Registry and Migration Department of Cyprus or to a Cypriot embassy or consulate abroad.
2. Required Documents:

1. Proof of employment or self-employment (e.g., contract, letter from the employer, or proof of self-employment).
2. Proof of income (bank statements or salary slips) showing the required monthly earnings.
3. Health insurance that covers you and any family members.
4. Clean criminal record certificate from the applicant’s country of origin.
5. Proof of accommodation in Cyprus (e.g., rental agreement or property ownership).

1. Processing Time: The process usually takes around 5 to 7 weeks, depending on the volume of applications and whether all documents are provided correctly.
2. Visa Fees: The current visa application fee is €70 for the main applicant, and an additional €70 for each dependent included in the application.

Advantages of the Cyprus Digital Nomad Visa

1. Mediterranean Lifestyle: Live in Cyprus while working for a third country destination, and enjoy its pleasant climate, beautiful beaches, and vibrant expat communities.

1. High Quality of Life: Cyprus offers an affordable cost of living, excellent healthcare, and high safety standards.
2. Favorable Tax Environment: For those staying less than 183 days, there’s no tax liability. Even for tax residents, Cyprus offers low personal income tax rates.

Limitations

1. No Local Employment: Digital nomad visa holders cannot take up employment or conduct business activities with Cypriot companies.

1. Limited Duration: While the visa can be renewed for a maximum of 3 years, it does not lead to permanent residency or citizenship.

Immigration Lawyers G. KOUZALIS LLC, informs you that digital nomad visa provides a great opportunity for remote workers who want to enjoy the benefits of living in Cyprus while maintaining employment outside the country. On March 3 2022, the Cyprus government place a ceiling of 500 digital nomad visas. This number has been reached and therefore at present, applications are paused temporarily until the applications have been examined. there are other options available for visa’s such as the ‘Pink Slip’ or an employment working visa. If you would like further information please do not hesitate to contact us on 00 357 23811788 or by email on lawfirm@cytanet.com.cy

Disclaimer: This article is provided for informational purposes only and does not constitute legal advice. Readers are advised to consult with legal professionals for advice specific to their individual circumstances.