During a second panel discussion ‘Why I went Back: Stories of Return, Belonging, and Impact,’ at the Minds in Cyprus event in London, speakers focused on the reasons they came back to Cyprus and what helped them to grow and adapt.
The panel was moderated by Charis Kynigou, Executive Board Member, Head of Private Banking, Treasury Capital Markets & ESG, Astro Bank.
Opening the discussion, Labour Minister Yiannis Panayiotou said, “This is the best time for you to invest your future in Cyprus. There are positive trends in our labour market. During the last two years we achieved the highest employment rate. We are trying to create an employment rate of 80%. The average wage was improved to be higher since that of 1993. The average is 2,500 euros. We expect in the next years we will achieve higher employment rates, better salaries, etc. this is the moment to rethink about the possibility of coming back home. This is the best time to do so.”
He said that all the results of the labour market are encouraging and there are many benefits that will make this a good move.
Alexis Pantazis, the Co-Founder and Executive Director of Hellas Direct, said, “We are a digital first insurance company operating out of Cyprus. We are trying to disrupt using advanced analytics and it is shocking to see the direction Cyprus has taken in attracting talent back. There are great employment opportunities. The main reason is the pull factor. We are fortunate to have an amazing culture as a company. If you want to a find a balanced life and a professional challenge that didn’t exist 15 years ago, this is working.”
He said that there are great incentives to the way of life by comparison to living abroad.
ISDI Limited CEO, Thalis Anaxagoras, said that moving back is a complex decision. “The easiest thing is the tax as an advantage. Going back to Cyprus you gain a lot as a family. There is more free time. You can go swimming, fishing, have fun with your kids. As a family you build more bonds together.”
He added that it is important to gain the experience and then go back to Cyprus, and that going back he has adapted part of the UK culture to his life after having living abroad.
Marianna Hadjiandoniou, the Founder and Director of PERHA Group, said that this was a great initiative. “Returning back, I dedicated myself to shifting how we work. I focused on creating corporate cultures changing from the 9-5 schedule. We need to accommodate innovation and technologies. I am happy seeing people relocate back to Cyprus.” She added that mindsets are shifting and that Cyprus today is not the Cyprus that many left behind years ago.
Christophoros Papachristophorou, the Founder and Managing Partner of Invel Real Estate, said when he moved back in 2017 he never imagined that his endeavour would yield the results it did. “We offer professionalism and legal counsel. You get the ability to enjoy the hours you have in a better climate .”
