Dorita Yiannakou
The door has opened. There’s a flow of talent heading to Cyprus, driven by the country’s growing need for skilled workers, especially in technology and ICT. We’re talking about Cypriots who left the island in search of better working conditions, higher pay, better terms, and, of course, the chance to gain valuable experience, which they could later use to secure a good job if they ever decided to return to Cyprus.
From what we’ve heard, recently, the relevant authorities have been bringing people to Cyprus to work in sectors like technology and energy. The majority of these professionals are coming from the UK, where the perks and conditions have started to decline. To be clear, we’re not seeing a huge influx of talent, but rather a small group that now recognizes Cyprus as an appealing destination, with companies that could be their next place of employment. At the same time, some people see an opportunity to create something of their own here in Cyprus—something innovative that could contribute to the economy.
Now, these professionals believe Cyprus offers the right environment to bring something to the country that’s been missing, something that’s already common abroad. The country’s low corporate taxes, especially compared to other eurozone countries, are another big plus. Our sources also mention that some Cypriots are returning from the US and Africa, but in smaller numbers. It’s important to note that the authorities who are helping bring these talents back to Cyprus have the full support of the government, which is promising to back them in every way. There’s even a specific and attractive package prepared for them and their families, as the brain gain initiative is a personal commitment of the President.
That’s why the President will be in London this May to speak directly with these professionals, aiming to boost the local job market. However, everything will depend on the incentives that are offered. He needs to make sure these individuals aren’t misled into returning under false pretenses. First and foremost, the government has to make it easier for them to come back under the right conditions and strengthen the existing tax incentives for those who return. On top of that, they need easier access to new jobs, high salaries, and decent working conditions. What will be difficult for them is the bureaucracy they’ll face upon their return, and this is where the government must step up to offer real solutions before making promises that may not be realistic. On the positive side, the President won’t be alone in this effort. He’ll have the support of business organizations and companies that are keen to hire Cypriot talent directly.
The initiative is on the right track, but it needs careful planning and incentives that are practical and in line with the capabilities of our economy. It would be a shame if this positive effort ended up causing more harm than good. We also need to be ready for the possibility that some Cypriots abroad may reject the offer if it doesn’t meet their expectations. They’ll weigh what’s being offered and make their decision.
It’s worth noting that last year, business groups also visited the Cypriot diaspora in London to present career opportunities in Cyprus, but it didn’t result in much. We’ll see if the President’s visit this year brings better results because, in the end, the success of this initiative will depend on what actually comes out of it.
*This article was translated from its Greek original
