Promotion of Technology Companies and Digital Transformation

Newsletter, October 2021

Κύπρος - Προώθηση Εταιρειών Τεχνολογίας και Ψηφιακός Μετασχηματισμός

The Republic of Cyprus, actively supporting the efforts to promote and create a business environment that encourages the operation and development of both technology and IT companies, as well as start-ups, has instructed the corresponding Ministries and Deputy Ministries to design a program aimed at economic and social development of the island, through the promotion of entrepreneurship, the operation of digital industry, and also the provision of various incentives to attract foreign direct investments.

Specific interventions in the tax system and immigration policies of Cyprus, incentives for both legal entities and individuals, relevant measures that will promote the development of digital skills of the Cypriot industry and society, as well as similar tools for easier access to financing, will be announced shortly.

The specialized human resources, the multicultural and friendly business environment, in combination with the unique strategic geographical position of Cyprus, constitute advantages that can be fully utilized for the creation of a newly established model of economy, which will be based on science, technology, innovation and digital transformation.

We will keep you updated on any further developments.

This text has been prepared and edited by our Promotion and Development Consultant, Ms. Penelope Vassiliou.