Strong interest in professional opportunities and incentives to return to Cyprus was recorded at the Minds in Cyprus events in Birmingham and London, with the participation of more than 350 Cypriot professionals living and working in the UK.
The events, which took place on June 22 in Birmingham and June 23 in London, were attended by 24 companies and organizations from Cyprus, presenting more than 110 highly skilled jobs in cutting-edge sectors of the Cypriot economy.
The initiative returned to the United Kingdom a year after its first presentation in London by the President of the Republic Nikos Christodoulides. The Government was represented by the Deputy Minister to the President Irene Piki, who presented the progress of the first year of implementation of the program, the available incentives and the professional prospects that are being formed in Cyprus.
The aim was to directly connect Cypriots abroad with businesses and organizations operating in the country. Participants came from sectors such as technology, fintech, financial and professional services, research, innovation and energy.
In London, the event took the form of an exhibition of professional opportunities, while in Birmingham an open roundtable discussion was held on the prospects of the Cypriot economy, the needs of the labour market and the strengthening of ties with the Cypriot diaspora.
Ms. Piki said that Minds in Cyprus is a concerted effort to make Cyprus a reliable choice for professionals considering the next step in their careers. As he noted, the pursuit is not just the return of Cypriots to the country, but the creation of the conditions so that the return or cooperation with Cyprus is a realistic professional choice.
Referring to the country's economic performance, the Deputy Minister noted that the Cypriot economy is recording strong growth rates, historically low unemployment, reduction of public debt and successive upgrades by international rating agencies. According to her, these developments are boosting the demand for skilled human resources, especially in high value-added sectors.
Particular reference was made to the Opportunities for Talent platform, in which more than 700 professionals have already registered. Through the platform, more than 330 specialized jobs have been posted by businesses and organizations operating in Cyprus.
The targeted tax incentives for those considering their return were also presented. Among other things, it includes a new 25% tax exemption on employment income for Cypriots who have been abroad for seven years, as well as the existing 50% tax exemption for specific cases. These incentives, as pointed out, reduce costs and uncertainty during the first years of return.
In the context of the Minds in Cyprus Action Plan, practical facilities were also presented, such as faster processing of applications for professional licenses and recognition of qualifications, addressing issues of residence and work permits for spouses or partners, supporting families in matters of education and settlement, as well as centralized information through the Information Hub.
The events were attended by representatives of the Department of Taxation and the Research and Innovation Foundation, who informed stakeholders about tax issues, funding programs, research opportunities and tools to support innovation.
The Deputy Minister underlined that the initiative is aimed at both those considering their return and professionals who wish to remain connected to Cyprus, to collaborate with Cypriot businesses, to transfer know-how or to participate in projects developed in the country.
"Minds in Cyprus is not just asking for the return. It creates the conditions so that the thought of returning or cooperating can be turned into a real choice," said Ms. Piki.
The events were organized by the Government and Invest Cyprus, with the support of the Cyprus Chamber of Commerce and Industry, Cypriots in the City and businesses and organizations operating in Cyprus.
The initiative is part of the Government's broader strategy to attract and utilize talent, strengthen the competitiveness of the Cypriot economy and utilize the international experience of Cypriots living and working abroad.
