Fully in line with the countries Long – Term Growth Strategy 2035, the new productive model for the future and guidelines of the European Commission along with targets of the Recovery and Resilience Fund, the strategy comprises of 12 targeted actions in five pillars, taking best practices from other European countries, with the aspiration of turning Cyprus into a sustainable business and trade center in Europe and the surrounding region.
Emphasis has been placed in the fields related to High Technology, Shipping, Innovation, Research & Development, without excluding, stresses the President, other companies or businesses that choose Cyprus as the country of operations.
New Digital-Nomad Visa Introduced
The list of incentives introduces a Digital Nomad Visa for third-country nationals’ self or salary employed working remotely with employers and clients outside Cyprus along with new tax incentives for existing
or new non-domicile employees with investments in innovation or R&D. While also lowering the years required to apply for naturalization from the current 7 years to 5 years.
In recent years, cites the President, several international companies of high-added value have chosen Cyprus as their country of operations, residence, and employment, appreciating the comparative advantages Cyprus has to offer.” Some of these include access to tech-savvy EU talent pool and a well-educated, highly skilled workforce, a geographical location with easy access to the European, Middle Eastern and African markets and an enviable lifestyle in a safe, clean, and healthy environment with high living standards.
Cyprus Shows Highest Improvement in IMD 2020 Competitiveness Ranking
It is no coincidence Cyprus’ ability to attract and facilitate foreign direct investment and the adaptability of its policies has yielded remarkable results as shown in the latest report of the Institute for Management Development for the World Competitiveness Centre 2020, where we see Cyprus has been named the most improved country, climbing eleven spots, and ranking 30th globally.
Supporting Foreign Investment
In close collaboration with all governmental authorities, public institutions and private sectors, InvestCyprus is the lead investment authority of the Government of Cyprus offering complimentary dedicated partner-like service to support decision-makers of potential investors.