The Unseen Crisis: How Cyprus Is Closing Its Doors to the Future of Tech and Startups

Problem 2 – Expats in One Basket: Paying or Receiving, No Difference.

Cyprus is gradually distancing itself from digital nomads, freelancers, and startup founders from third countries, potentially curtailing the growth of its tech and startup sectors.
These digital nomads and IT freelancers represent a rich breeding ground for innovation and can significantly attract investments.

Qualified "visitors" contribute more than €60,000 annually from abroad for their living expenses, enriching the local economy. This influx is split between government revenues through taxes and fees and local businesses through rent, shopping, education, and more.

However, the past two years have seen a worrying trend: many "visitors" who pay taxes in Cyprus, including business owners and remote company employees, face rejections when renewing their residency.
Previously, a consistent set of documents sufficed for renewal, but now, rejections have become more frequent, often occurring during the document review phase. People who have built their lives in Cyprus suddenly find themselves with a letter giving them 30 days to leave, usually received well after it was sent.

Why this change?

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