Cyprus Extends Visa Scheme Amid EU Controversy

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In spite of the recent votes to suspend EU visa schemes, it seems the Cyprus government have been given the green light to expand the Cyprus Start-up Visa Programme for a further 2 years; issuing 150 visas to foreign investors who invest in the Cyprus economy in exchange to live and work in the country for a year to incorporate, transfer and progress their start-up.

The Cyprus start-up Visa scheme ran from February 2017 on a pilot or provisional basis for two years until February 2019. The Cyprus Deputy government spokesperson spoke out that 150 new visas will be granted as part of the scheme, the overall budget of which is €500,000 in total.