Finance Minister announced increase in Digital Nomad Visa beneficiaries

Cyprus Finance Minister Constantinos Petrides announced on Thursday an increase in the number of Digital Nomad Visa beneficiaries from 100 to 500 following a Cabinet meeting, at the Presidential Palace.

Petrides said that this decision is part of the governmental plan, which was approved by the Cabinet in October 2021, in order to approach companies that intend to operate and expand their activities in Cyprus

Cyprus Digital Nomad Visa aims at attracting citizens from third countries outside the European Economic Area and allows them to stay in Cyprus on condition that their work will be provided through information technologies for companies or customers who live abroad, he stated.

The aim of this plan, he added, aims at the reinforcement of Cyprus as an e-services provider, the development of the business ecosystem and the economic growth of the country.

Due to the interest of beneficiaries that proved "much greater than expected", the Cabinet decided to increase the number of Digital Nomad Visa beneficiaries from 100 to 500, he concluded.