London: Cyprus President, Nikos Christodoulides, presented an Action Plan for the Repatriation of Cypriots who excel abroad during an event in London. The plan, which focuses on four key areas, aims to facilitate the return and reintegration of talented Cypriots living overseas. Over 750 people, mainly young Cypriots in the UK, attended in person, and more than 2,000 participated online. The event was co-organised by the Presidency of the Republic, Invest Cyprus, and the Cyprus Chamber of Commerce and Industry (CCCI).
According to Cyprus News Agency, the President emphasized the importance of the contributions of Cypriots worldwide, whether they choose to return or contribute from abroad. The Action Plan focuses on enhancing tax incentives, creating a digital information portal, developing a talent and job-matching platform, and implementing holistic support for family reintegration. The tax incentives aim to expand criteria and increase the tax exemption cap for those abroad for seven years post-studies, alongside the existing scheme for those away for 15 years or more.
President Christodoulides highlighted that Cyprus has already become a hub for talented individuals, with over 35,000 professionals from various countries contributing to sectors like ICT, financial technology, and clean technology. Cyprus offers a competitive and safe environment for professionals, supported by a strong research and innovation ecosystem, universities, Centers of Excellence, and multinational companies.
The President noted Cyprus’s strong position on the European Innovation Scoreboard and its ranking of 40th worldwide in the startup ecosystem. He also pointed out Cyprus’s expanding diplomatic influence and its role as a pillar of security and stability in the Eastern Mediterranean. The Cypriot economy demonstrates a positive outlook, with a projected growth of 3.4% in 2024, decreasing unemployment, and an upgraded international credit rating.
The event featured themed roundtable discussions, and senior executives from 20 major companies presented employment opportunities in Cyprus. The CCCI hailed the event as a ‘remarkable success’, with notable attendance from Cypriot professionals in the UK, reflecting their interest in returning home and the strength of the Cypriot economy in attracting talent.
The CCCI’s press release described the event as a landmark in the national Brain Gain Initiative ‘Minds in Cyprus’. Opening remarks were given by Evgenios Evgeniou, Chairman of Invest Cyprus, and Phanos Theofanous, President of the ‘Cypriots in the City’ network. A round-table discussion titled ‘A Changing Cyprus: New Horizons for Talent and Enterprise’ explored the island’s new economic model and opportunities for investors and professionals.
The programme concluded with the panel ‘Why I Went Back: Stories of Return, Belonging and Impact’, where six successful returnees shared their experiences and advice for prospective repatriates.