Cyprus will offer citizenship to "talents" from third countries

30.11.2023 A bill on granting citizenship of the Republic of Cyprus to "talents" from third countries was submitted for a vote in the Parliament of Cyprus on November 30. Those who work in international business companies, receive at least 2,500 euros before taxes and know Greek, will be able to obtain a Cypriot passport under an accelerated procedure — after four years of residence on the island.

Cyprus has set itself a strategic goal — to become a regional investment center and technology hub. To implement it, new laws and incentives are needed that will be able to attract investors and talents from other countries.

According to statistics, 70% of companies registered in Cyprus have a share of foreign participation. According to the Department of Statistics of the Republic of Cyprus, in 2021, the contribution of the communications and information technology sector to the country's GDP amounted to 15.5%.

The development of this sector requires specialists who are not yet trained in Cypriot universities. A new bill on accelerated naturalization has been developed to attract talent from abroad.

Link to source: https://inbusinessnews.reporter.com.cy/article/2023/11/28/745365/auto-einai-to-neo-nomothetiko-plais...