The government extended the application period for the scheme by two years following its completion last February. The revised scheme will be valid for the period March 2019 to March 2021, during which up to 150 visas can be issued. The evaluation process is completed within five weeks. Moreover, for persons eligible to participate in the scheme there is no maximum period of residency in Cyprus as long as they are under this scheme. As a result, these persons have the prospect of long-term residency in the republic and directly acquire the possibility of family reunification in the case of paid employment and when the family members are already in the republic. In the case of self-employment, immigration law allows family reunification after two years and while family members are abroad. Along with their application, the applicants must submit a business plan that must provide that the enterprise’s head offices and tax domicile be established in Cyprus. The business plan evaluation is based on five criteria, which are scored from 0-3 and a score of at least 11/15 is required for approval.
