Peripheral Action 1: Development of an online platform for start-ups, innovation and high tech companies, with a proposed timeline for Q1 2022.
Peripheral Action 2: Revision of the corporate spin-off legal framework with the intention of making such actions more widely used, with a proposed timeline for Q1 2022.
Peripheral Action 3: Informative campaign to attract qualified Cypriots employed abroad and targeted campaign to qualified workforce employed in countries that may currently be experiencing political instability (e.g., Belarus, Lebanon and Armenia), with a proposed timeline for Q1 2022.
Peripheral Action 4: Enactment of legislation that will facilitate the issuing of licenses for strategic investments through the establishment of a new section within the Department of Town Planning and Housing of the Ministry of Interior of the Republic of Cyprus, with a proposed timeline for Q1 2022.
Peripheral Action 5: Assign the branding, marketing and communication aspects of implementing the Action Plan, in its entirety, to a business/company having the requisite expertise, which must be utilised by all authorities engaged in promoting Cyprus as an attractive investment hub and an international business and financial centre (e.g., the Cyprus Investment Promotion Agency (CIPA), the Cyprus Chamber of Commerce and Industry (CCCI), the Cyprus Employers & Industrialists Federation (OEB), and Diplomatic Missions), with a proposed timeline for Q1 2022.
Peripheral Action 6: Completion of the action currently in force for judicial reform, with a proposed timeline for 2023-24.
Peripheral Action 7: Revision and modernisation of the Companies Act (Cap.113), which is the main piece of legislation governing companies in Cyprus, with a proposed timeline for 2023-24.
Peripheral Action 8: Upgrading the infrastructure for ICT and broadband connection, with a proposed timeline for 2024.
5) Social insurance benefits
Action: Securing the right to a pension transfer by intensifying the efforts made to conclude bilateral agreements with third countries as specified by the Ministry of Labour, Welfare & Social Insurance of the Republic of Cyprus. The conclusion of these bilateral agreements will enable third country nationals to transfer the social insurance contributions they have paid in Cyprus when they return to their country of permanent residence, on the condition that with these contributions they did not obtain any right to a pension for senior citizens, disability and so forth.
Proposed timeline: Q1 2022