Michalis Parides
The Rise of the Digital-Nomad Workforce
The pandemic has triggered seismic changes globally, including shifts in how we work, causing many businesses and individuals to transition from an office-centric mindset to more flexible ways of working.
Faced with the post-pandemic reality, an increasing number of individuals are embracing remote work and a digital-nomad lifestyle. Recent studies have shown that an astonishingly high percentage of employees prefer working remotely. Employers around the globe, by recognizing the benefits that can be harvested by remote work, are progressively adopting remote work policies1 . But what does the term digital nomad mean?
Digital nomads are remote workers who utilize telecommunications technology to perform their jobs. They often work, amongst others, from hotels, public libraries and co-working spaces. Some digital nomads frequently travel in different countries while others are choosing one remote location to work from.
Governments around the globe, including the Republic of Cyprus and the Hellenic Republic, have introduced digital nomad visa schemes to accommodate the rise of the digital nomad workforce.
Cyprus and Greece Digital Nomad Visas
As part of its strategy for attracting companies and talent from abroad, the Cyprus government has recently introduced a Digital Nomad Visa Scheme, with a quota of five hundred residence permits to be issued.
Similarly, the government of Greece has introduced its own scheme through the recently passed Law 4825/2021, however, no limit has been set to the number of residence permits that can be issued.
Individuals entitled to a digital nomad visa are third-country nationals who can perform their work location-independently and are employed in a company registered abroad or are self-employed offering services remotely for clients located abroad. Applicants must prove that they have a stable monthly net income of at least €3500 after the deduction of contributions and taxes. It is important to note that the aforementioned amount is increased by 20% for a spouse or partner and by 15% for each child.
The above eligibility requirements apply for both Cyprus and Greece digital nomad visas.
Benefits
Individuals that are granted with a digital nomad visa will benefit from the following:
- Right of residence in the country for one year, with a possibility of renewal for another two years.
- Right of residence for family members2 , for the same period as the holder of the digital nomad visa. However, family members are not allowed to be employed or perform any economic activity in the country.
- If they reside in the country for one or more periods that in total exceed 183 days within the same tax year, then they are considered as Cyprus tax residents, provided that they are not tax residents in any other country.
The above benefits are granted to holders of both Cyprus and Greece digital nomad visas and are applicable only for the jurisdiction from which the digital nomad visa was issued.
Procedure and Examination Time
Cyprus
Individuals who are interested in obtaining the digital nomad visa can enter Cyprus with a tourist visa. Within three months of arrival, the applicant must submit the relevant application accompanied with all required documents to the Civil Registry and Migration Department.
In circumstances where the applicant legally resides in Cyprus under a different status, he/she has the right to submit the relevant application to be granted a temporary residence permit as a digital nomad.
The time of an application’s examination is estimated to be between five and seven weeks.
Greece
Individuals who are interested in obtaining the digital nomad visa must submit the relevant application accompanied with all required documents to the Greek Consulate of the place of the applicant’s main residence. The Greek Consulate should respond within ten business days from the day the relevant application is filed. The Greek Ministry of Migration and Asylum is the competent authority responsible for issuing the digital nomad visa.
A third country citizen, and his/her family members, who meet the conditions to apply for a digital nomad visa and have already entered the Greek territory with a uniform type of visa or under a visa waiver regime, has/have the opportunity, within the period of validity of their existing visa, to apply for the issuance of a digital nomad visa. In this case, applicants will be required to submit documentation proving their residence address in Greece.
How Royal Pine can Assist
At Royal Pine, our interdisciplinary team can assist you and your family with obtaining a Cyprus/Greece digital nomad visa effortlessly while taking into consideration your own set of needs. We can further provide objective guidance and advice throughout your relocation journey to Cyprus/Greece by considering all aspects, from assisting with the identification and selection of your residence to taking care of your family needs including registration with educational institutions. We act as your trusted advisor who has your peace of mind as our outmost priority.
Relevant Turnkey Solution: Cyprus Pre-Relocation Experience
At Royal Pine, we understand that the decision to relocate is not an easy one. For your relocation, you need to consider aspects such as immigration compliance, housing and even shipment of your movable property. Importantly however, a major factor influencing this decision is the opportunity to personally experience Cyprus first, in order to assess whether its lifestyle and benefits fulfil your expectations.
But how can one experience Cyprus before actually relocating? At Royal Pine, we have created a Pre-Relocation Experience programme which lasts for up to one month and aims to provide individuals with a taste of living and working in Cyprus.
Get in touch with our team at info@royalpine.com for more information on our proprietary Cyprus Pre-Relocation Experience programme. Alternatively, you can use our Contact Form and a member of our team will contact you with further details.
Royal Pine is a boutique advisory firm offering a comprehensive spectrum of solution-based products addressing the needs of Corporate clients, Private clients or their family offices and Regulated institutions on areas of investments, financial, tax, legal and corporate matters.
* This publication has been prepared as a general guide and for information purposes only. It does not purport to be comprehensive or to render professional advice. Before making any decision or taking any action that may affect you and/or your business, bespoke advice should be obtained.
- 1 -Global Workplace Analytics, Owl Labs – “State of Remote Work 2021: 5th Annual Edition”. Report accessed March 2022. -Global Workplace Analytics, Design Public Group – “The Business Case for Remote Work for Employers, Employees, the Environment and Society: 2021” Report accessed March 2022.
- 2Family members include the spouse or partner in a civil union and underaged children.
