€10 Million Funding Pushes Cypriot Innovation into High Gear

by News Editor

June 16, 2025

As part of a landmark effort to bolster the innovation and production capabilities of Cyprus-based startups, the Research and Innovation Foundation (RIF) has launched a major funding program, “STEP: Creating State-of-the-Art Production Facilities for New Products and Services” with a hefty budget of €10 million.

Set against the backdrop of the government’s commitment to economic reform as outlined in the 2025 Governance Program, this initiative underlines an enduring strategy aimed at fortifying the country’s industrial foundation.

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The program aspires to convert innovative ideas into high-value products or services by facilitating the development of contemporary production facilities—a sectoral push that promises broad commercial viability.

Who Can Benefit?

Cypriot businesses of all sizes looking to enhance their production capabilities can partake in this groundbreaking financial opportunity. Each project could receive up to €2 million, covering expenses from facility establishment to staff training.

The new funding opportunity aligns with the EU’s Strategic Technologies for Europe Platform (STEP) and is aimed at industries focusing on advanced digital technologies, clean technologies, and biotechnology.

General Director of RIF, Theodoros Loukaidis, emphasized, “STEP strategically invests in the evolution of Cyprus’s research and innovation ecosystem and industrial capabilities, empowering companies to transition from development to production, thus amplifying their global market presence.”

The program is open for proposals until September 5, 2025. For more details, interested parties can contact RIF’s Support Service at 22205000 or email support@research.org.cy.

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Global Investment Migration: Leading Residence And Citizenship Programs For 2026

by THEFUTURE.TEAM

February 24, 2026

European Dominance Challenged By Global Contenders

The 2026 edition of the Henley & Partners Residence and Citizenship Programs report shows increasing competition in the investment migration market. European programs, traditionally seen as the global benchmark, are now facing stronger competition from jurisdictions in the Middle East, Asia-Pacific, Latin America, and the Caribbean as countries expand offerings aimed at attracting capital and internationally mobile investors.

New Entrants And Rapid Climbers Reshape The Landscape

Malta remains ranked first in the Global Citizenship Program Index for the 11th consecutive year, while Greece retains the top position in the Global Residence Program Index. At the same time, several jurisdictions improved their standings. The UAE moved from fifth to a joint second position, entering the top three for the first time. Countries including Costa Rica, New Zealand, Panama, and Singapore also gained ground, while Uruguay, Saudi Arabia, and the Maldives appeared as new entrants.

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Competing For Capital And Global Talent

Governments increasingly use residence and citizenship frameworks as tools to attract foreign investment and entrepreneurial talent. According to Henley & Partners Chairman Dr. Christian H. Kaelin, Europe remains a strong player, but countries such as Singapore and the UAE are accelerating reforms to strengthen their appeal to globally mobile investors.

Established Leaders And Agile Newcomers In Citizenship Programs

The Global Citizenship Program Index continues to be led by established programs. Malta’s citizenship-by-merit framework scored 77 points, maintaining its leading position, while Austria followed with a highly selective model. Programs in Grenada, St. Kitts and Nevis, and Nauru also received strong rankings. New entrants such as São Tomé and Príncipe and Samoa reflect a broader expansion of citizenship-based offerings.

European Consolidation And Emerging Residence Hubs

In the residence category, Greece remains first, supported by EU access and lifestyle advantages. Italy, Switzerland, and the UAE continue to compete closely, combining tax efficiency with investor-oriented policies. Portugal and Australia maintain strong positions, while Uruguay is emerging as a stable option with growing international interest.

Performance Metrics And Strategic Advantages

Both indexes evaluate 40 programs across factors including reputation, quality of life, compliance standards, investment requirements, and tax considerations. Austria and Malta scored strongly on program quality, while the UAE ranked highly in lifestyle and tax competitiveness. The rankings highlight how jurisdictions are positioning themselves to attract globally mobile capital.

Wealth On The Move

The report points to a broader shift in global wealth mobility. According to Dominic Volek, Group Head of Private Clients at Henley & Partners, investors increasingly prioritize stability, transparency, and clear long-term pathways when choosing residence or citizenship options.

As global uncertainty persists, residence and citizenship programs are increasingly viewed not only as investment tools but as strategic instruments for long-term mobility and risk diversification.

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