Press Releases

Distinguished guests, ladies and gentlemen,

It is a pleasure to be here with you today, to address this gathering of professionals and industry leaders, all united by a shared vision: to strengthen Cyprus' position as a premier destination for business relocation and regional headquarters.

In the contemporary dynamic global landscape, which encompasses shifting economic policies, migration trends, and regulatory changes, Cyprus stands as a beacon of stability and opportunity within the European Union. The Cyprus Bar Association's timely event underscores our commitment to providing a welcoming and efficient framework for businesses seeking a strategic new base.

In 2023, the Government of President Christodoulides revised the “Strategy for Attracting Investment and Talent in Cyprus” to better reflect the real needs of potential and existing investors.

Stakeholders have welcomed the Strategy, as evidenced by the fact that more than 2.000 companies registered in the Business Facilitation Unit between 2022 – 2024, and more than 35.000 skilled employees and their families currently work in our country.

This comprehensive policy framework streamlines procedures, offers targeted incentives, and provides enhanced support for companies relocating to Cyprus. Moreover, I would like to stress that the Government of the Republic of Cyprus is working on the implementation of the Blue Card and Digital Nomad schemes, which we deem very important.

At the Deputy Ministry of Migration and International Protection, we understand that successful business relocation hinges on effective migration policies. Our mission is to maintain a supportive environment, where international companies can seamlessly establish themselves and thrive in Cyprus. In this respect, we have implemented measures aligned with the "Strategy for Attracting Investments and Talent," facilitating the smooth transition of skilled professionals and their families.

Whereas some may view migration with apprehension, we, nevertheless, recognise the potential of legal migration as a powerful factor contributing to economic growth. As the World Bank has emphasised, well-managed migration brings valuable skills and experience, enriching the workforce and driving economic performance. Increased consumer demand fuelled by migration further stimulates business expansion and contributes to a dynamic economy.

Against this backdrop, Cyprus is committed to harnessing this potential through a balanced and inclusive migration framework. We are dedicated to constantly refining our policies to ensure a smooth and efficient migration process, allowing businesses to focus on what they do best: innovate and grow.

Today's event offers a valuable platform for knowledge-sharing and collaboration. You will hear from government and private sector experts, thus gaining practical insights into navigating the relocation process and overcoming challenges.

As Deputy Minister, I assure you that our government is committed to supporting your transition and relocation to Cyprus. We understand that each business is unique and we are keen on listening and collaborating with you. We invite you to explore the opportunities that Cyprus offers and join us in building and maintaining a prosperous business community.

Thank you for your presence here today and for considering Cyprus as your future business home. The Government of the Republic of Cyprus is determined to foster an economic and business environment that will enable foreign businesses relocating to Cyprus to accomplish their goals, to grow and expand; an environment that not only meets, but exceeds expectations.

Please allow me to once again congratulate the Committee for Business Relocation of the Cyprus Bar Association for organising this event and wish you every success in today’s deliberations.

Thank you for your attention.

(AN/AS/AP)