Christodoulides calls on skilled UK Cypriots to contribute to a changing Cyprus

President Nikos Christodoulides called on participants in the Mind in Cyprus event in London to contribute to a Cyprus that was already undergoing significant positive change.

He was speaking to over 750 participants at the event at Guildhall in London and many others following the event online on the evening of 21 May,

The happening was co-organised by the Presidency of the Republic with Invest Cyprus and the Cyprus Chamber of Commerce & Industry (CCCI) Christodfoulides presented the new Action Plan for the Repatriation of Talent, within the framework of the national initiative Minds in Cyprus.

"Cyprus is transforming into an economy based on knowledge and innovation. The data speaks for itself," Christodoulides noted, going on to outline positive developments connected to Cyprus' economy and business sector. He also outlined the Action Plan aiming to turn the brain drain into a brain gain for Cyprus.

Among other things, Christodoulides also talked about the sectors the government was investing in to improve life in Cyprus and make the island even more attractive to skilled overseas Cypriots considering returning.

The President's full speech, translated from the original Greek, can be seen below:

Dear compatriots, friends,

Allow me to begin by expressing my particular joy about the organisation of today's event and your massive presence.

Your response, from the first moment we announced our intention to develop an Initiative for the Repatriation of our compatriots who excel abroad, up until today's event in London, has exceeded even our most optimistic expectations. With your messages, your suggestions, and most importantly, your presence here today, you prove the correctness of our decision, but also that our homeland is always in your thoughts.

Cypriots from all over the UK and beyond — professionals, researchers, entrepreneurs — reached out to us, shared their experiences, told us their stories and made suggestions. From young professionals in the financial technology sector, to renowned doctors and academics; from second-generation Cypriots who are proud of their origins, to young third-generation Cypriots rediscovering their roots.

Your contribution was essential and decisive. The Action Plan we present tonight is also a result of your own contribution. Moreover, your more general suggestions shape the way in which we design policy overall and work to change Cyprus.

For us, for our governance, the "Minds in Cyprus" initiative is a national mission born from the recognition that our country's most valuable asset is its human resources.

In recent months, you have proven to us that all of you are among the strongest supporters of the Cyprus that we all envision. A Cyprus that is changing and evolving on the basis of a specific plan and design, with a clear vision and perspective. A vision that places at its centre, reforms, meritocracy, accountability, a culture of evaluation and a clear commitment to results.

A vision that does not remain only in theory. It is being translated into a structured network of policies, reflected through the innovation of the Annual Programme that we introduced at the beginning of each year and through which's implementation progress is monitored and evaluated through the Annual Governance Report. Our goal is to broaden the productive base of our economy, a modern public sector, digital tools for citizens and businesses, better schools and hospitals, simplification of bureaucratic procedures and targeted investments that support sustainable development.

Cyprus is transforming into an economy based on knowledge and innovation. The data speaks for itself:

• The Information and Communications Technologies sector contributes 14% to GDP — an impressive figure that also reflects the success of our strategy to attract and retain high-value-added companies,
• Wages are increasing steadily, both in nominal and real terms. In fact, Cyprus is among the countries in the European Union with the highest increases in real wages over the last three years,
• Unemployment is at historic lows since 2008, the youth employment rate is rising, and the number of available jobs in key sectors continues to grow. For example, unemployment is at 4.9% and the number of job vacancies (to give an example) in technology sectors has increased by almost 37% from 2022 to 2024,
• Productive foreign investment in Cyprus is on a steady upward trajectory. In the last three years alone, our country has attracted a significant number of strong international technology and financial services companies, confirming the credibility and potential of the Cypriot ecosystem.

The response from foreign investors during my recent visit to the United States exceeded all our expectations. And I must admit that I also felt great satisfaction in seeing the image of Cyprus improve, its recognition strengthen, and its reputation and credibility upgrade — AND all of this as a result of the Government's systematic effort for the necessary redefinition of our country, of our targeted actions to re-establish Cyprus on an international level.

Friends,

The expansion of our production model is supported by a macroeconomic environment of stability, growth and international trust.

Our economy has recorded strong growth in recent years, demonstrating remarkable resilience, despite geopolitical instability and global economic challenges. In 2024, the Cypriot economy grew by 3.4%, one of the highest growth rates in the European Union. This performance, which is maintained at similar levels in the first quarter of 2025, demonstrates the stability and dynamism of our economy, at a time when many other countries in the Eurozone are facing difficulties and serious challenges.

At the same time, Cyprus has made significant progress in reducing its public debt, which has fallen below 66% of GDP — one of the largest reductions in the European Union. These achievements are also recognised internationally, as in 2024 Cyprus (after 13 years, since 2011) was rated in Category A by all international rating agencies. A clear vote of confidence in the stability, perspective and responsible management of our economy.

We are, therefore, rightly proud, but we are not resting on our laurels. We know that there is still much to be done.

That's why we continue to invest:

• Strengthening entrepreneurship with the promoted tax reform which, among other things, aims to alleviate the tax burden for Cypriot businesses. Also, by utilising alternative financing tools, such as the Cyprus Equity Fund, and the promotion of the plan for the establishment of the Cyprus Business Development Organisation, which will operate as a central body for granting financing and support services to Cypriot enterprises,
• In the green and digital transition, through initiatives such as smart energy networks and digital public services. Specifically in the digital transition, I mention as examples, the creation of the single state portal gov.cy and the 'Digital Citizen' application, the promotion of the digital ID and electronic signature, as well as the implementation of integrated Sustainable Urban Mobility Plans in our cities,
• In education, research and innovation — with a revision of curricula, digital classrooms, emphasis on STEM subjects, expansion of all-day schools, teaching career guidance from the sixth grade and the introduction of the technical gymnasium. At the same time, a significant increase in funding for research and innovation programs,
• In health — by ensuring the sustainability of the General Healthcare System, upgrading the governance and supervision of hospitals and adopting digital e- health tools. Also, key reforms that upgrade the quality of the aforementioned services such as the creation of university clinics, the Institution of the Patient Ombudsman and the new National Strategy for Mental Health.

Friends,

Cyprus has already become a destination for talent. Over 35,000 highly qualified professionals from third countries and of course thousands of our compatriots live and work in Cyprus today — many in sectors such as Information and Communication Technologies, FinTech, the pharmaceutical industry and clean technology. They are in our country because Cyprus (beyond the sun and the sea) offers a competitive, stable, quality and safe environment for a professional to live, work and develop in

Our productive model has now become dynamic, expanded and future-oriented. And it is founded on a strong research and innovation ecosystem — Universities, Centese of Excellence and other research centres, start-ups and multinational companies collaborate with each other. Cyprus is already among the highly innovative countries in the European Innovation Scoreboard , while it ranks 40th globally in the startup ecosystem, according to the organisation's most recent global ranking. StartupBlink — with a growth rate of 28%.

At the same time, Cyprus is increasing its diplomatic footprint both regionally and internationally. We are a reliable partner in the European Union with a role and say in what is happening in Brussels. A pillar of security and stability in the Eastern Mediterranean and the wider Middle East. A country that builds, with actions and not words, bridges of cooperation and is becoming known internationally for positive news.

Friends,

Within the framework of the reasoning that I mentioned above, the repatriation and reintegration of Cypriot talent is an integral part of our broader plan for the development and future of our homeland. That is why we are here today. With a vision and a specific plan, we present our plan to you.

The Action Plan for the Repatriation of Talent that we are presenting today opens paths for return, creation and participation.

This is a roadmap (I repeat) with specific actions and a clear implementation timetable , which aim to facilitate the return of our people, the return of all of you.

So, what does the Action Plan include in practice?

These are interventions — in four areas — that aim to facilitate and encourage the return of Cypriots abroad to our country.

First , we are strengthening tax incentives for integration into the labor market. More specifically, we are broadening the criteria and increasing the ceiling of tax exemption for those who have remained abroad for seven years after their studies, expanding the circle of beneficiaries.

Let me clarify that the new arrangements will operate in parallel with the current 50% exemption regime for those residing outside Cyprus for 15 years or more.

Second , we are creating a relevant digital portal — a single point of information on issues related to employment, housing, education, health, entrepreneurship, available financial tools and everything else that is of interest to those considering return. At the same time, the portal provides the opportunity to submit relevant questions and, of course, online support.

Third , we connect all of you with employment opportunities in our country. Through a specialised talent matching platform, we connect businesses in our country with Cypriot professionals and scientists abroad, through the publication of highly specialised job positions.

And Fourth , we support family reintegration — because return is not only a professional decision, but also a personal and family one. This includes measures such as accelerated naturalisation of spouses, access to education for children, Greek language courses and social integration tools for families who choose to return to Cyprus.

The Action Plan is currently published on the dedicated website created for the Minds in Cyprus initiative, which will be constantly updated.

Friends,

Joining us tonight are leaders from major businesses and Centres of Excellence in Cyprus. They are our compatriots who have returned to Cyprus, foreigners who have invested in our country, professionals who are experiencing the Cyprus we are changing. They are not just present for presence sake— they are here because they are looking for talents like all of you.

The message they convey to us is clear:

Yes, they need skills, experience, know-how, more Cypriot talent that excels abroad. They are looking for people who see Cyprus as a professional destination — but also as a place of life, identity, security and perspective.

So, I repeat: Cyprus is changing — and it needs all of you. Whether you choose to return, or choose to contribute from wherever you are — your contribution is of particular importance to us and our Cyprus.

So, I thank you from the bottom of my heart for your massive presence, your support, and your faith in our homeland.

Thank you — for being here, for believing in a Cyprus with enormous prospects. I look forward to talking to as many of you as possible, to hearing your thoughts, your opinions, your suggestions, any concerns you may have.

I invite you to our country, to change it together with you, the Protagonists.

Thank you from the bottom of my heart.