New Incentives for Cypriots Returning Home: Tax Breaks and Housing Highlights

by News Editor

April 24, 2025

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.

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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.

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Modernizing Cyprus SMEs: Investment Initiatives Drive Competitive Excellence

by THEFUTURE.TEAM

February 19, 2026

SMEs: The Backbone Of Cyprus’ Economy

Small and medium-sized enterprises (SMEs) remain a central pillar of Cyprus’ economy, supporting employment, innovation and local production networks. Their long-term competitiveness increasingly depends on access to modern technologies, operational upgrades and targeted investment that improves efficiency and productivity.

The Thalia Initiative: A Strategic Investment Framework

The Thalia 2021–2027 Program plays a key role in supporting this transition. The initiative provides financial assistance to both new and established SMEs, particularly in manufacturing and selected economic sectors, helping businesses modernize infrastructure, upgrade technology and improve production capacity. With a total budget of €50 million and co-financing from the European Union, the program aims to strengthen competitiveness while encouraging entrepreneurship and job creation.

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Case Study: Pivo Microbrewery’s Production Revolution

Pivo Microbrewery illustrates how targeted investment can accelerate growth. Before receiving funding, co-owner Thanasis Poluneikis identified limited production capacity as a major obstacle to meeting rising demand. The introduction of modern machinery and updated technology has significantly improved production processes. According to Poluneikis, the new equipment has increased precision and consistency in quality control, helping maintain product freshness and standards throughout distribution. The upgrades also allowed the company to expand production and develop new partnerships, supporting broader market reach.

Enhancing Product Offerings: The Vanilla Aroma Bakery Experience

Vanilla Aroma Bakery represents another example of modernization through investment support. Owner Giannis Toumpas used the funding framework to upgrade both the facility layout and production equipment. The improvements have accelerated operations and increased efficiency, enabling the bakery to refine existing products while introducing new offerings. These changes have strengthened customer experience and reinforced the brand’s position in a competitive market where quality and presentation remain key differentiators.

Financial Support As A Catalyst For Growth

These examples highlight the role of the Thalia Initiative as a financing tool that translates investment into measurable business development. By supporting equipment upgrades, technology adoption and infrastructure improvements, the program contributes to the long-term sustainability of SMEs, encourages innovation and supports job creation. The continued modernization of small and medium-sized enterprises is helping build a more resilient and competitive business environment that supports broader economic growth in Cyprus.