In recent years, Cyprus has become known for dedicating considerable resources towards research and technological advancement. The island has specialized visa applications entrepreneurs outside of the European Union and European Economic Area who wish to establish, operate or develop a Startup. These visas consist of two parts; Individual Startup Visa plan and Group Startup Visa Plan.
Just last year, in 2019, the government made the decision to enhance its investment in technological research in order to innovate the island. Cyprus hopes to create an ecosystem that encourages, expands and supports areas of research and innovation.