Research and Innovation opportunities
English
INCENTIVES & RESEARCH AND INNOVATION FUNDING PROGRAMMES
Invest in Research and Innovation and capitalise on a dynamic ecosystem with international perspectives
Cyprus is evolving into a modern and competitive Research and Innovation hub in the wider region. The goal of the Deputy Ministry of Research, Innovation and Digital Policy is the transition to a digital state that enhances economic growth and creates an attractive environment for researchers, businesses and investors.
In recent years, investments in Research and Innovation have increased significantly, strengthening cooperation between businesses, universities and research infrastructure. Today, Cyprus's ecosystem includes:
- 7 recognised Centres of Excellence
- 2 internationally recognised major research institutes
- more than 20 research organisations
- 12 public and private universities
- over 4,200 researchers
- a powerful network of more than 500 start-ups and innovative businesses
Through European and international partnerships, targeted investments, an attractive business framework and specialised financial tools, Cyprus offers real opportunities for growth and innovation.
Further Information:
Cyprus Research and Innovation Ecosystem
https://www.nbri.gov.cy/ri-in-cyprus/
National Funding Programmes
What you need to know?
Cyprus offers significant funding opportunities for projects relating to research, technological development and innovation. National funding programmes cover a wide range of sectors and support you in: developing new products and services, turning your idea into a workable solution, collaborating with academic and business networks, and the commercialisation of research
The objective is to help you to:
- Identify suitable funding opportunities through national programmes and incentive schemes.
- You have immediate and reliable information on calls for proposals, deadlines and submission procedures.
All national Research and Innovation programmes are funded by the Research and Innovation Foundation (RIF), the executive arm of state policy for Research, Technological Development and Innovation in Cyprus.
Through the IRIS Portal, you can register and gain access to IdEK’s online services, which include:
- information on funding opportunities
- electronic submission of proposals
- management of funded projects
- access to information and support
Further Information:
National programmes funded by the Institute of Economic Research (IdEK) via the IRIS Portal
https://iris.research.org.cy/#!/
European Funding Programmes through Horizon Europe
What you need to know?
Horizon Europe is the European Union's key funding programme for research and innovation for the period 2021–2027, with a total budget of €95.5 billion.
The programme:
- strengthens cooperation between countries, organisations and businesses
- it supports the production and dissemination of excellent knowledge and technologies
- tackles global challenges through research and innovation
- it creates jobs and utilises the EU's human resources.
- enhances the competitiveness of European industry
It constitutes a key tool for your participation in high-impact international projects, within a stronger European Research Area.
Further Information:
Funding Programmes Information Portal – Horizon Europe
Do you need more information?
Besides the RIF, the Funding Programmes Information Portal of the Directorate-General for Development also operates.
The Portal helps you:
- to identify the right funding opportunity
- to be informed about European, co-funded and national programmes
- to have a comprehensive picture of invitations, deadlines and procedures
Further Information:
Funding Programmes Information Portal – DG for Development
https://www.fundingprogrammesportal.gov.cy
Research and Innovation Incentives
The Government has established a series of tax and investment incentives to boost:
- the mobilisation and development of start-ups
- Research and Development (R&D)
- the exploitation of intellectual property rights
- attracting talent from abroad
The effective utilisation of these incentives creates favourable conditions for innovation, growth and the commercial exploitation of knowledge.
Tax incentives you can utilise
- Corporate tax rate 15%, one of the lowest in the EU.
- 50% tax relief for the first job of people moving to Cyprus
- 25% Tax relief for repatriated professionals (employees and self-employed persons)
- 50% tax relief for investments in certified innovative enterprises
- 80%: deduction from eligible profits arising from the exploitation of intellectual property (IP) rights
- 80%: notional deduction from taxable profits for new equity capital used to finance taxable assets
- 0%: tax on gains from the disposal of intellectual property rights where such gains are of a capital nature
- 100% exemption from capital gains on the disposal of shares (which do not directly or indirectly hold immovable property in Cyprus)
- 120% tax relief for Research & Development expenditure
- Special tax regime under 8% relating to gains from the disposal of crypto-assets
- Special tax treatment at a rate of 8% arising from the grant of share purchase (option) rights under approved schemes
- Abolition of stamp duty on documents from 1 January 2026.