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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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Cypriot Government Employment Sees Modest Growth in April

by THEFUTURE.TEAM

May 12, 2025

Total government employment in Cyprus increased by 237 persons, a rise of 0.4 per cent, in April, compared to the same month in 2024, reaching a total of 55,490 employees, according to the state statistical service.

Employment in the civil service and the security forces decreased by 1.2 per cent and 1.1 per cent respectively, while the educational service saw an increase of 3.8 per cent.

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Civil Service and Educational Service Breakdown

In April 2025, the civil service employed 11,960 permanent staff, 4,141 employees with contracts of indefinite duration, 1,458 with contracts of definite duration, and 5,798 hourly paid workers.

Permanent employees represented the highest proportion of the civil service workforce at 51.2 per cent, while employees with contracts of definite duration made up the lowest proportion at 6.2 per cent.

In the educational service, there were 12,461 permanent employees, 947 with contracts of indefinite duration, 4,824 with contracts of definite duration, and 141 hourly paid workers.

Permanent staff formed the majority of the educational workforce at 67.8 per cent, while hourly paid workers accounted for only 0.8 per cent.

Security Forces Breakdown

Within the security forces, 8,430 were permanent employees, 4,304 held contracts of indefinite duration, 267 were on definite-duration contracts, and 759 were hourly paid workers.

Permanent employees again made up the largest group in the security forces at 61.3 per cent, with definite-duration contracts representing just 1.9 per cent.