Wouldn’t it be nice if you could work from Cyprus for more than 90 days at a time?
I mean being a digital nomad on a tourist visa is fine but what if you don’t want to leave after 90 days. What are your visa options for staying longer in Cyprus?
In this article, you will learn more about the different visa options for digital nomads including the newly launched Cyprus Digital Nomad Visa.
What is the Cyprus Digital Nomad Visa?
The Cyprus Digital Nomad Visa is for non-EU Nationals who are self employed, freelancers, or remote workers for a company based outside of Cyprus.
This visa gives digital nomads the opportunity to work from Cyprus for one year with the option to renew for another two years.
Digital nomads can also bring along their family. Any accompanying family members will be issued a resident permit, which is valid for the same amount of time as the digital nomad visa.
There are some limitations to this visa. First, digital nomads under this visa can not provide work or services to an employer based in Cyprus. Second, family members under a resident permit are not allowed to work or perform any economic activities in the country.
For the time being, Cyprus has limited the digital nomad visas being issued to 100 visas. Therefore, those interested in applying should act fast.
What are the benefits?
There are many reasons why Cyprus is a haven for digital nomads.
Aside from the Mediterranean climate, 300 plus days of sunshine, and a low crime rate, Cyprus also has a welcoming business environment, easy company registration, and low taxes.
In order to benefit from low taxes, holders of the digital nomad visa must remain in Cyprus for more than 183 days in a tax year and must not be a tax resident elsewhere.
Just to name a few benefits of becoming a Cyprus tax resident:
- First €20,000 are taxed at 0%, increasing later to between 20% and 35%
- No need to pay taxes on international dividends, “passive” interest income, or profit from the sale of securities
- And many more tax incentives, deductions, and exemptions
What are the requirements for the Cyprus Digital Nomad Visa?
In order to apply for the Cyprus Digital Nomad Visa, you must meet a few requirements, which are as follow:
- Must earn at least €3,500 per month. This increases by 20% if you wish to bring your spouse and another 15% for each child.
- Have medical insurance
- Have a clean criminal record
- Proof of income through an employment agreement, bank account, or other relevant proof
For more detailed information on the requirements and process, visit Cyprus Civil Registry and Migration departments’ website.
What are some other Cyprus visa options for Digital Nomads?
If you are an EU National
For EU nationals, if you wish to stay longer than 90 days in Cyprus, then you do not need to apply for a visa but something else called a “Yellow Slip”. The “Yellow Slip” gives EU nationals the same benefits as Cypriot citizens such the right to stay and re-entry, work, and engagement in business activities.
In order to apply for a “Pink Slip”, you must meet the following requirements:
- Health insurance
- Rental agreement or ownership agreement
- Bank statements from abroad
- Employment agreement or pay stub
It is fairly easy to obtain the “Yellow Slip” for EU nationals however the process is a bit bureaucratic and time consuming so it is best to hire a lawyer to expedite the process and save yourself the headache.
Overall, the process for EU nationals to work remotely from Cyprus is pretty easy.
If you are a Non-EU National
For non-EU nationals looking to stay more than 90 days, you will need to apply for something called a “Pink Slip”. The “Pink Slip” is basically an extension of your tourist in the form of a temporary resident permit and is valid for one year.
In order to apply for a “Pink Slip”, you must meet the following requirements:
- Proof of annual income over €10,000
- Health insurance
- Rental agreement or ownership agreement
- Open a Cypriot bank account and transfer money from abroad to the Cypriot account. The amount you need to transfer varies case by case but expect it to be above €5,000.
- A refundable bank guarantee from a Cyprus bank. This will be about €500 to €800 depending on your nationality.
It is best to apply for a pink slip at least one month before your tourist visa expires. For more detailed information, visit the Cyprus Immigration website.
There are some restrictions with the “Pink Slip” such as not having the right to work for a Cypriot company and you can not stay outside of Cyprus for more than three months otherwise your permit will be cancelled.
Overall, the process for non-EU nationals to work remotely from Cyprus for more than 90 days is a bit complicated but if you meet all the requirements and have the patience, then it can be done. Alternatively, you can hire a lawyer to expedite the process and save yourself the headache.
Will you apply for one these visas?
For digital nomads and remote workers who want to stay in Cyprus more than three months, there are definitely options to make this happen.
For EU nationals, the process to stay longer is pretty simple. Just go through the application process for a “Yellow Slip” and you are good to go.
For non-EU nationals, the easier option would be the digital nomad visa compared to the temporary resident permit. Hopefully, Cyprus plans to increase the limit on digital nomad visas and give more digital nomads and remote workers the opportunity to work from Cyprus in the near future.
The future of work is flexibility and I can see more digital nomads and remote workers chasing life in the sun on this wonderful island called Cyprus.
