Finance Minister, Mr. Keraunos, announced that the Cabinet has approved a revision of the strategy for attracting foreign enterprises, aiming for further expansion. These businesses, he noted, are significant for creating new job opportunities, expertise, and substantial added value to our economy.

"Recognizing the importance of this strategy, a revision has been undertaken," he said, adding that the Cabinet has approved new actions.

According to the Ministry of Finance, the new actions included in the strategy and promoted by the relevant Ministries involve revising the duration of residence permits for these companies when certain conditions change. This includes the implementation of the Blue Card directive related to the entry and residence conditions of third-country nationals. Furthermore, a new section is being promoted for issuing business travel visas (visa card business), which includes provisions to facilitate the educational needs of the children of foreign workers in Cyprus.

Additionally, Mr. Keraunos mentioned a new section aimed at addressing housing issues faced by foreign companies. This section relates to new build-to-rent housing incentives and the revision of some urban planning incentives.