NICOSIA – The authorities in Cyprus have announced to start receiving applications for the Digital Nomad Visa tailored specifically for freelancers and remote employees.
In an official press release, the Migration Department of the Deputy Ministry of Migration and International Protection announced to accept applications for residence permits through the “Cyprus Digital Nomad Visa” Scheme.
Cyprus has designed the visa to attract talent from non-EU and non-EEA countries, offering the opportunity to live in the country while providing IT services to international companies and clients.
The authorities believe that digital nomads will contribute to the development of the business ecosystem and to the economic development of the country.
To be eligible for getting the visa, the eligibility criteria includes that the individuals must be non-EU or non-EEA nationals who can perform work remotely through telecommunications technology and 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. Another benchmark is that the applicants prove that they have stable and sufficient monthly net income of at least €3500 (after the deduction of contributions and taxes).
The biggest advantage of a Digital Nomad Visa offered by Cyprus is that it allows the applicants right of residence for a year in Cyprus, with a possibility of renewal for further two years. Moreover, it gives 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. The government has also announced that if the digital nomads reside in the country 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.
It is to be highlighted that the rise of gig economy and freelance industry has prompted multiple countries to offer Digital Nomad Visa. The countries which have introduced such type of visa include Estonia, Georgia, Portugal, Spain, Germany, Croatia, Bermuda, Barbados, Mexico, Dubai (UAE), Thailand, Costa Rica, Mauritius, Panama, and Armenia each with its own set of requirements and benefits tailored to digital workers.
These visas allow remote workers to experience new cultures and work internationally while meeting the needs of employers and clients from around the globe.
