Cyprus Launches Golden Knowledge Programme to Attract Tech Talent

Cyprus has launched its Golden Knowledge Programme, a novel initiative designed to attract international tech talent to the island. This decision follows the approval of an amendment to the Civil Registry Law by the House of Representatives, easing the criteria for granting Cypriot citizenship to individuals with expertise in specific fields.

The bill introducing the Golden Knowledge Programme was spearheaded by Diko MP Nicolas Papadopoulos, who emphasized that it stands apart from the Golden Passport Program, asserting, "It has nothing to do with investing [in Cyprus] but rather with knowledge. The aim is to attract qualified specialists in specific fields. Investing in research and innovation means investing in our country’s future, which will have immense economic benefit."

Papadopoulos stressed that the program is distinctly different from a golden passport initiative, categorically stating, "This is not a golden passports program, but a golden knowledge program." The program's criteria include a working knowledge of the Greek language, financial self-sufficiency, and a clean criminal record for interested individuals.

Furthermore, family members of the applicants can also qualify for citizenship if they have legally and continuously resided in the country for 12 months. The amendment introduces key provisions for the Golden Knowledge Programme:

1. Accelerated citizenship for international experts engaged in the research and innovation sector.

2. A requirement for proficiency in the Greek language for applicants.

3. Financial independence.

4. A clean criminal record.

5. Citizenship eligibility extending to family members of applicants.

6. Streamlined processing of citizenship requests, aiming for completion within eight months.

Aristos Damianou of Akel welcomed the amendments, noting that many tech experts already reside on the island. He highlighted the positive impact of research and innovation companies, which contribute €3.2 billion to Cyprus, with almost 70% of their employees being Cypriot citizens.

Damianou emphasized that the program is not akin to the issues associated with the Golden Passport Program, stating, "We’re not talking about the Jho Low phenomenon." The changes aim not only to attract tech talent to Cyprus but also to retain skilled workers, contributing to the country's economic growth.

It's worth noting that Cyprus abolished its Golden Passport Program in 2020 following revelations of irregularities, and the Golden Knowledge Programme is positioned as a distinct and more targeted initiative to foster knowledge and innovation in the country.

By fLEXI tEAM