Cyprus Expands Tax Incentives To Attract And Repatriate Skilled Talent

Parliament Approves Strategic Tax Relief Bill

The Cypriot Parliament has approved a new tax relief framework aimed at attracting expatriates back to the country under the national Minds in Cyprus initiative. The bill passed with minimal changes, signaling strong political support for measures designed to strengthen competitiveness and expand the domestic talent base.

Robust Bipartisan Support And Broad-Based Eligibility

The bill was supported by 18 MPs from DISY, DIKO, DIPA, and EDEK, while 16 lawmakers from AKEL, the Ecologists, and several independents abstained. The framework expands eligibility criteria and increases the ceiling for tax exemptions, targeting individuals who have lived abroad for at least seven years.

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Detailed Provisions And Implementation Conditions

Under the new scheme, returning expatriates may benefit from tax exemptions of up to 25% of their income, capped at €25,000 annually. The incentive applies to both salaried employees and self-employed professionals, provided their annual income in Cyprus reaches at least €30,000.

Criteria For Eligibility And Residential Obligations

To qualify, applicants must have been residents of Cyprus during at least one year before their period abroad. Eligibility also covers individuals who worked full-time outside Cyprus for at least 84 months before returning, regardless of academic background, or those with at least 36 months of employment abroad who hold a university degree recognized by the Cyprus Council of Scientific and Technical Advisors.

Presidential Endorsement And National Strategic Vision

President Nikos Christodoulides welcomed the vote, describing it as a key step in advancing the Minds in Cyprus initiative. According to the presidency, the policy forms part of a broader strategy aimed at attracting highly qualified professionals and strengthening long-term economic resilience.

Investing In Human Capital For A Competitive Future

The tax incentive framework reflects Cyprus’ broader effort to enhance its talent pool and improve international competitiveness. By encouraging skilled expatriates to return, policymakers aim to support sustainable growth and reinforce the country’s position as a regional hub for expertise and innovation.

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Cyprus Strengthens Its Case As A European Chess Hub After FIDE President’s Visit

by THEFUTURE.TEAM

October 20, 2026

Cyprus is sharpening its position on the European chess map, with the island’s rising profile now drawing attention at the highest levels of the sport.

Fide Leadership Backs Cyprus’ Chess Ambitions

International Chess Federation (FIDE) president Timur Turlov, who also leads Freedom Holding Corp and Freedom24, met President Nikos Christodoulides at the Presidential Palace in Nicosia on Monday to discuss the future of chess development in Cyprus. The talks centered on the island’s growing importance in European chess and the momentum built since Freedom became general partner of the Cyprus Chess Federation in 2023.

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“In three years, Cyprus has become one of Europe’s chess hubs, and we want to keep building on that,” Turlov said. “It was important for us to present our plans for chess on the island to the President, and we are grateful for his time and attention to the game.”

A Broader Strategy For Growth

Turlov was elected FIDE president on September 26 at the federation’s congress in Samarkand. His 2027–2030 programme calls for roughly €30 million in funding over four years to support global chess development, including an annual development fund of €6.2 million, nearly four times the current budget.

The proposed funding is designed to expand competition opportunities, strengthen youth development, improve chess education, support coaches and arbiters, accelerate digital tools, and promote women’s chess.

Cyprus Has Become A Proven Host For Major Events

Since Freedom became the federation’s general partner in 2023, Cyprus has hosted 26 tournaments, including stages of the FIDE Women’s World Grand Prix in Nicosia in 2023 and 2025. The island also welcomed the 2026 Candidates Tournament, which featured a €1 million prize fund and brought top international players to Cap St Georges Hotel and Resort.

For Cyprus, that event carried symbolic weight. It was the first time in the country’s chess history that the world’s leading contenders had competed on the island, underscoring its emergence as a credible destination for elite international chess.

Building A Pipeline For The Next Generation

The local ecosystem is also expanding at the grassroots level. The Freedom24 Chess Academy opened in Limassol on March 1, 2025, under the leadership of International Master Artem Sadovsky. Its mission is to develop competitive players capable of representing Cyprus on the international stage.

According to the Cyprus Chess Federation, around 2,000 people in Cyprus now play chess actively, most of them children. That matters: a sustainable chess economy, like any successful sports ecosystem, depends not only on marquee tournaments but also on a steady pipeline of young talent, coaching infrastructure and institutional support.

As Cyprus continues to invest in the game, it is increasingly positioning itself not just as a host nation, but as a serious contributor to the future of European chess.

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