On May 21, 2025, President Christodoulides launched a government initiative in London with the aim of luring Cypriot migrants back to the island. This marked the start of the country’s ‘brain gain’ strategy.
The Presidency jointly organised the ‘Minds in Cyprus’ event, according to a government spokesman. Invest Cyprus and the Cyprus Chamber of Commerce anticipate attracting over 750 Cypriot professionals, scientists, and students residing in the United Kingdom.
Senior executives from 20 major organisations operating in Cyprus, along with representatives from centres of excellence, attended the event to showcase job opportunities in the Cypriot market.
The president will present a talent repatriation plan, developed by ministries as part of the national strategy to strengthen connections with Cypriots overseas. This is to cover employment, innovation, entrepreneurship, taxation, and education, besides family reintegration.
The Council of Ministers approved the action plan the day before the launch in London. This aims to create conditions for Cypriots excelling overseas to return and continue their careers at home.
President Christodoulides said before a cabinet meeting the day before the launch that Cyprus is now in the fortunate position to be able to repatriate talent. He added that Cyprus needs scientific personnel. He went on to share that, unfortunately, Cyprus had to decline additional participation requests. He justified the decision to broadcast the entire event online.
This initiative comes as Cyprus’s technology sector has experienced significant growth in recent years. This created a demand for specialised workers, which currently exceeds local supply.
Earlier in the year, the Ministry of Finance submitted legislation to parliament. This provided tax incentives and other benefits to attract a skilled workforce besides returning Cypriots.
The bill aims to expand & improve the existing tax framework that will be legislated in 2022. This makes it more attractive, flexible & accessible. Proposed changes include increasing the tax exemption from 20% to 25% of remuneration from 1st employment and increasing the maximum tax exemption from USD 10,003.50 to USD 29,250. This modification reduces the needed time spent outside Cyprus from 15 to only 7 years for eligibility.
