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.
