Cyprus offers many career opportunities for professionals seeking exciting roles in the gaming sector. As the gaming industry continues to surge, especially in Limassol and Paphos, so does the demand for specialized skills and talent.
Cyprus has had substantial growth in its gaming sector and in the last few years has become a magnet for international gaming companies, spanning game development studios, esports organizations, and gaming technology firms. Many of them have sought to establish regional headquarters in Cyprus: Wargaming, Outfit7, Melsoft, and Nexters, all of which have their headquarters in Cyprus.
With its cost-effective services, favorable business environment, and more, Cyprus is an attractive hub for pioneering game developers.
Some of the tax benefits relevant to a gaming/tech business are as follows:
- Low corporate income tax rate (currently 12,5%).
- IP Box Regime, can reduce the effective tax rate of the Cyprus company as low as 2.5% (more on this below).
- Notional Interest Deduction (NID) is available for ‘new equity’, and can achieve an effective tax rate as low as 2,5%.
- Tax residency is based on the management and control concept
- One of the most favorable EU and OECD-approved tax regimes.
- Dividend income for companies is taxable only in rare situations.
- Cyprus does not levy any withholding taxes on dividends, interest and royalties paid to non-residents of Cyprus except in the case of dividends paid to a company tax resident of an EU ‘blacklisted’ jurisdiction, and in the case of royalties earned on rights used within Cyprus.
- Extensive double tax treaty network.
Gaming Growth in Cyprus:
The revenue from mobile gaming in Cyprus is expected to reach $9.23 million in 2023, reflecting the significant impact of this platform on the gaming industry. The projected market volume for the gaming industry is estimated to reach $13.19 million by 2027, with an expected annual growth rate (CAGR 2023-2027) of 9.35%.
Emerald Zebra’s Expertise:
One of Emerald Zebra’s 4 niche sectors is in the recruitment of gaming professionals, our team, expertise and reach to specialist talent make us the go-to agency for those seeking gaming career opportunities or talent acquisition in Cyprus.
Hot iGaming Jobs in Cyprus
This influx of gaming companies has generated a significant demand for professionals with gaming expertise.
1. Game Developers: Cyprus’s gaming scene demands skilled game developers to create captivating and innovative games.
2. Esports Managers: With esports gaining traction, there is a growing need for esports managers to lead and organize tournaments and teams.
3. Gaming Artists and Designers: The visual appeal of games is paramount. Cyprus requires talented artists and designers to craft stunning game visuals.
4. Game Testers: Ensuring the quality of games is vital, making game testers indispensable in the industry.
5. Gaming Analysts: Analytics play a significant role in shaping gaming experiences. Analysts are needed to gather insights and enhance games.
- Regulatory & Compliance for Safer Gaming:
Cyprus places a strong emphasis on regulatory and compliance standards in the gaming industry to ensure safer gaming experiences. This commitment enhances the reputation of gaming companies operating on the island, building trust among players and investors alike.
The challenge for gaming companies to find suitable talent.
Citizens of European Union member states and citizens of Iceland, Liechtenstein, Norway, and Switzerland (EFTA) can work freely in Cyprus.
The others, the process for obtaining work permits is becoming more straightforward. As such, Foreign Interest Companies (FIC) can apply to the Civil Registry and Migration Department for an application to be approved as an FIC employer and be able to bring employees on work permits to live and work in Cyprus.
Tax Incentives
To bridge the local gap in talent, tax incentives have been specifically designed to attract a high-skilled workforce to Cyprus, especially in technology.
50% income is tax-free for employees who earn more than €55.000 provided that they were not tax residents of Cyprus for a period of 10 consecutive years before their employment in the Cyprus. This exemption is applicable for 17 years.
Emerald Zebra: iGaming Success
Our focus on the gaming sector in Cyprus sets us apart, offering insights, opportunities, and expertise unmatched by generic recruitment agencies.
Whether you’re a gaming professional seeking growth in your career or an organization seeking the right gaming talent, Emerald Zebra is your HR partner for gaming jobs in Cyprus.
