Cyprus President, Nikos Christodoulides, presented on Wednesday during an event in London an Action Plan for the Repatriation of Cypriots who excel abroad that focuses on four key areas.
Over 750 people, mainly young Cypriots living and working in the UK, including scientists, students, and professionals participated in person, while more than 2,000 people followed the event online. The event was co-organiσed by the Presidency of the Republic, Invest Cyprus, and the Cyprus Chamber of Commerce and Industry (CCCI).
The President underlined that “Cyprus is changing and it needs all of you,” noting that “whether you choose to return or to contribute from wherever you are, your contribution holds special significance for us and for Cyprus.”
The Action Plan for the Repatriation of Cypriots who excel abroad has been developed in collaboration with the relevant ministries and focuses on four key areas, aiming to facilitate the return and reintegration of Cypriots living overseas. The four main pillars of the plan include, enhancing tax incentives, creating a digital information portal, developing a talent and job-matching platform and implementing holistic support for family reintegration including faster naturalisation processes, access to education for children, Greek language lessons, and tools for social integration.
As regards the tax incentives it concerns expanding criteria and increasing the tax exemption cap for those who have remained abroad for seven years after completing their studies, thereby broadening the pool of beneficiaries. These new provisions will operate alongside the existing 50% exemption scheme for those who have lived outside Cyprus for 15 years or more.
In his speech, the President of the Republic mentioned, among other things, that Cyprus has already become a destination for talented people.
“More than 35,000 highly qualified professionals from third countries and of course thousands of our compatriots live and work in Cyprus today — many in sectors such as Information and Communication Technologies, financial technology, the pharmaceutical industry and clean technology. They are in our country because Cyprus (beyond the sun and sea) offers a competitive, stable, quality and safe environment for a professional to live, work and grow”, he noted.
He said that “our productive model has now become dynamic, has expanded and is oriented towards the future”, adding that it is founded on a strong research and innovation ecosystem and that universities, Centers of Excellence and other research centers, start-ups and multinational companies cooperate with each other.
Cyprus, he added, is already among the strong innovators according to the European Innovation Scoreboard, while that it ranks 40th worldwide in the startup ecosystem, according to the latest global ranking by StartupBlink, with a growth rate of 28%.
“At the same time, Cyprus is increasing its diplomatic footprint both regionally and internationally. We are a reliable partner in the European Union with a role and say in what is happening in Brussels. A pillar of security and stability in the Eastern Mediterranean and the wider Middle East. A country that builds, with actions and not words, bridges of cooperation”, President Christodoulides also said.
The President also cited specific data demonstrating the positive outlook of the Cypriot economy, namely a 3.4% growth in 2024, one of the highest in the EU. “Unemployment has decreased to 4.9%, real wages are increasing, public debt is now below 66% of the GDP, while the country has been upgraded to Category A by all international rating agencies”, he noted.
During the event, two themed roundtable discussions took place. Later, the President of the Republic responded to questions from participants.
The event was attended by senior executives from 20 major companies, which presented employment opportunities available in Cyprus.
In a press release the CCCI referred to a “remarkable success” of the inaugural event of the national Brain Gain Initiative “Minds in Cyprus”, noting that more than 600 Cypriot professionals based in the United Kingdom attended in response to the joint invitation of the Presidency of the Republic of Cyprus, the CCCI and Invest Cyprus “underscoring both their keen interest in returning home and the strength of the Cypriot economy in attracting high‑calibre talent.”
“The success of this landmark event marks the launch of a concerted effort to turn Brain Drain into Brain Gain, laying a strong foundation for the initiative’s forthcoming actions”, the CCCI said.
It added that opening remarks were delivered by Evgenios Evgeniou, Chairman of Invest Cyprus, and Phanos Theofanous, President of the «Cypriots in the City» network. “Both speakers highlighted Cyprus’ sustained economic growth and the strategic importance of attracting top‑tier professionals to establish the island as a leading regional business hub”, it noted.
During the event, a round‑table discussion took place entitled «A Changing Cyprus: New Horizons for Talent and Enterprise» followed, featuring CCCI President Stavros Stavrou, Deputy Minister to the President Irene Piki and senior executives of international companies operating in Cyprus. The panel examined the strategic pillars of the island’s new economic model and the opportunities for investors, businesses and professionals in Cyprus.
The programme concluded with the panel “Why I Went Back: Stories of Return, Belonging and Impact,” during which six successful returnees shared their personal journeys of reintegration into the Cypriot business ecosystem, offering practical insights and advice to prospective repatriates, the press release concluded.
