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The government of the Republic has introduced a start up visa, a scheme aiming at attracting investments from third countries to Cyprus in the fields of innovation and research.

The scheme concerns individual investors and groups of investors who will be in a position to establish a start up in Cyprus.

Investors will have to be citizens of third countries with a EUR 50,000 capital, who will set up their headquarters and their tax residency in Cyprus, will be university graduates and will need to have a good knowledge of either the Greek or the English language.

Investors who will establish successful start ups will be given a license for permanent residence and work in Cyprus, they will be able to employ a number of people, including foreigners and will enjoy reunion as well as other benefits.

The Finance Ministry will be able to assess which of these start ups are successful start ups based on their contribution to the economic development and to the promotion of innovation and research in the country.

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