Tech & IT
“Here at DPLaw we value our clientele and seek to develop a deep and lasting relationship where we support you throughout your company’s journey, from its inception to its evolving future.”
Information Technology Law
Our business support team is highly knowledgeable and experienced in all areas concerning corporate and Information Technology law. We are readily available to offer support throughout all the needs and unanticipated challenges that a tech company can face and we have a strong track-record of providing swift, professional, and personalized service to our clients.
From mounting regulations to shifts in the global markets, our team has a passion for legal tech and can help you navigate through its high and lows. We offer expert insight and will help you understand upcoming industry trends such as AI, cloud sharing and blockchain and how to implement those to your corporate model. We make sure you tick all the regulatory boxes and if things go south, we are there to sort it out.
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Tech & IT
Complete Guide to Cyprus Startup Visa Scheme
The programme provides for some enticing benefits if the startup is successful at the end of the two-year allocated period. If the startup is successful or presents sufficient development with a potential of future success, then the participants are entitled to:
- Residence in the Republic without any maximum time restrictions
- Family reunification
- Self-employment or Salaried Employment
- Prospective recruitment of specific number of personnel from non-EU countries
For your startup to be successful in its application these are the following conditions that need to be met:
- Access to 20.000 EUR capital
- At least one member of the team has an undergraduate degree or equivalent professional titled
- Good knowledge of English or Greek
- The business is ‘innovative’, i.e. 10% of its budget goes to research and development
- Commitment in the business plan that the enterprise’s head offices and tax domicile be established in Cyprus.
At its current run, the scheme will issue 150 visas. The timeline of the application will take between 8 weeks to the maximum time limit which is 6 months.
Submit startup visa application >>> Evaluation of application (roughly 5 weeks) >>> Notification of Initial Approval (this does not automatically guaranteed you right of entry/residence/employment) >>> Application for entry/residence/employment permit based on the approval of your startup visa application (must be done within six months, and the process takes 3 weeks). The documents needed are:
- Copy of a valid passport
- Filled-in Application Form CV
- Proof of good knowledge of English or Greek
- Bank statements proving access to 20.000 EUR
- Business plan (template of which we can provide)
Legal Framework The Startup Permit Scheme is part of the Policy Statement on Strengthening the Entrepreneurial Ecosystem in Cyprus and was launched in March 2019. The competent authorities for evaluating the application and the business plan are the Ministry of Finance and the Department of Civil Registry and Migration.
How Dionysiou & Partners LLC can assist: Our experienced professionals can assist with all the stages of the visa application as well as with the development of your startup enterprise. We can offer support in the preparation, collection and submission of all required documents for the registration of your startup company with the Cyprus Registrar of Companies. We can also provide assistance in drafting employment and rental contracts, obtaining the appropriate permits for third-country national employees and their family members, as well as any additional support towards ensuring your startup’s future success.
