Finance Minister Outlines Vision for a Digitised Cyprus
In a recent address at a business conference, Finance Minister Makis Keravnos shared the government’s ambitious vision to transform Cyprus into a “fully digitised state.” This initiative, according to Keravnos, is not just about modernizing government services but is also aimed at fostering the growth of new knowledge-intensive sectors. These sectors are expected to play a crucial role in diversifying the nation’s economy.
The digitisation efforts are set to complement a series of planned tax reforms. Keravnos emphasized that these reforms are designed to enhance the competitiveness of the Cyprus tax model. The goal is to alleviate the administrative load on taxpayers and businesses, ensuring a more equitable distribution of the tax burden.
Moreover, the Finance Minister highlighted Cyprus’s commitment to meeting the European Union’s ambitious goals for the green transition. He outlined a comprehensive approach that includes accelerating the adoption of renewable energy resources and introducing green taxation reforms.
Keravnos also took the opportunity to shed light on the government’s strategy to attract international businesses, which he noted is already yielding significant results. Central to this strategy are initiatives such as the creation of a business facilitation unit, the launch of a digital nomad visa, and a revised policy for granting temporary residence and employment permits to non-EU nationals working for foreign-owned companies in Cyprus.
The minister’s remarks underscored the government’s dedication to leveraging technology and innovation to drive economic growth and sustainability. With these strategic moves, Cyprus is poised to position itself as a forward-thinking, digitally-enabled hub for both businesses and citizens alike.
