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Cyprus issues 7,000 work permits to international professionals
September 29, 2022
The president of the national investment promotion agency Invest Cyprus Evgenios Evgeniou on Wednesday said Cyprus’ policy of granting tax incentives to foreign technology companies has been effective, resulting in 7,000 work permits being issued for highly skilled people who chose to relocate their business activities on the island.
“Indicatively, in 2022 the number of work permits given in relation to highly skilled people for companies that were approved by the Deputy Ministry of Research, Innovation and Digital Policy and passed through the one-stop service of the Ministry of Commerce is in the order of 7,000,” Evgeniou said during an event held by the Cyprus Investment Funds Association (CIFA).
Furthermore, the Invest Cyprus president said that “some of these people are already in Cyprus or are in the process of doing so, adding that they live, work, get paid here, consume here, send their children to schools and contribute to the Cypriot economy”.