Dorita Yiannakou
President Nikos Christodoulides is inviting Cypriots living in the UK to a special event in London on Wednesday, May 21, as part of the government’s "Brain Gain" initiative. The gathering will take place at the Searcys venue at The Gherkin and aims to connect with the Cypriot diaspora, particularly skilled professionals and scientists, to encourage their return to Cyprus.
During the event, the president will outline new tax incentives and benefits designed to attract Cypriots working abroad back to the island. These measures are part of a broader strategy to reverse the brain drain and position Cyprus as a dynamic hub for business and technology.
Key among the proposed changes is a bill soon to be tabled in Parliament, following approval by the Council of Ministers. The bill provides a 25% income tax exemption, capped at €25,000, for professionals and scientists who have spent at least seven years working abroad after completing their studies. The new framework also introduces more flexible eligibility criteria, making it easier for skilled professionals to return and contribute to innovation, productivity, and economic competitiveness.
Joining the President in London will be representatives from Invest Cyprus, the Cyprus Chamber of Commerce and Industry (KEBE), the Deputy Minister to the President, and prominent business leaders who have shown strong interest in attracting and hiring talent.
The event is part of a larger effort to strengthen ties with the Cypriot diaspora and tap into their expertise for Cyprus’s future growth.
