The President of Cyprus, Nicos Christodoulides, has turned his focus to crucial housing issues and the introduction of exciting incentives aimed at bringing back Cypriots working abroad. During a recent cabinet meeting, Christodoulides highlighted ongoing initiatives, emphasizing that housing consistently tops the agenda. Over the past two years, seven new housing plans have been launched, capturing the interest of younger citizens—a move the government wholeheartedly supports.
Enhancing Housing Accessibility
The housing strategy remains adaptive, with continuous evaluations and improvements. Recently, the cabinet adjusted income criteria for plans managed by the Cyprus Land Development Corporation (KOAG), broadening access to these housing solutions and amplifying opportunities for home purchase or rental.
Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram
From Brain Drain to Brain Gain: Cyprus Welcomes Its Diaspora
In a strategic pivot, the government aims to transform the ‘brain drain’ into a ‘brain gain’ by enticing Cypriots back to their roots. President Christodoulides unfolded plans for a groundbreaking meeting in London on May 21, aimed at attracting expatriate Cypriots and international entrepreneurs alike.
Irresistible Incentives
Highlighting the alluring incentives, the President disclosed offers including a 25% tax exemption on initial income for new hires, with the tax-free threshold raised from €8,550 to €25,000 annually. These offers target individuals who have worked abroad for at least seven years post-graduation.
Such moves are set to inspire significant interest from the Cypriot diaspora and are poised to deliver positive outcomes, according to President Christodoulides.
Stay informed about Cyprus’s dynamic housing strategies and economic updates by visiting our coverage on Cyprus’ Economy Growth.
