According to data from the Cypriot Ministry of Internal Affairs presented to parliament, as well as reports from Cypriot media, foreign buyers purchased more than 37,000 properties on the island between 2021 and 2024.
Top 10 buyer countries (2021–2024)
The statistics show some regional characteristics, for example, in Paphos, the British traditionally lead (~4,500 properties), in Limassol, the Russians lead (~2,500), followed by the British and Israelis. In Larnaca, the British, Lebanese, and Israelis are active, while in Nicosia, a significant portion of transactions are carried out by Greeks and British.
Since 2021, foreigners have purchased more than 37,000 properties, while Cypriot citizens have purchased more than 200,000. Transactions involving foreigners are concentrated in Limassol and Paphos (about 60% of all transactions).
The main trends in the Cyprus residential real estate market are:
Experts predict further growth in interest from citizens of Israel, Lebanon, and Ukraine, as well as a possible revival of Chinese investors as currency restrictions ease.
Ukrainian President Volodymyr Zelensky has appointed Serhiy Nizhinsky as Ukraine’s Ambassador Extraordinary and Plenipotentiary to the Republic of Cyprus. The relevant decree No. 511/2025 has been published on the website of the head of state.
Prior to his appointment to Nicosia, Nizhinsky held a number of positions in the executive branch and diplomatic service. He has experience working in the Ministry of Foreign Affairs, including in positions related to human rights, European integration, and international humanitarian cooperation. In 2020–2021, he also served as Deputy Minister of Social Policy of Ukraine.
Nizhinsky replaced Ruslan Nymchynsky, who previously represented Ukraine as ambassador to Cyprus.
Diplomatic relations between Ukraine and Cyprus were established on February 19, 1992.
The Ukrainian Embassy in Nicosia has been operating since 1999.
Ukrainian businessman Ihor Kolomoisky and seven other people have lost their “golden passports of Cyprus” after the republic’s authorities confirmed that they were obtained through fraud, misrepresentation and concealment of material facts, the Cypriot newspaper Phileleftheros reports.
“The decision, made on April 9, 2024, mentions that both before and after naturalization, he (Kolomoisky) was and remains a dubious person, and his naturalization has created and is creating a huge risk to the reputation of the Republic of Cyprus,” the newspaper writes.
It is noted that the key role in the decision was played by the fact that in his application for exceptional naturalization Kolomoisky did not mention anything related to the case of tax evasion in Russia, which was investigated by the Russian authorities in 2008, while his naturalization as a Cypriot took place two years later, in June 2010.
It is emphasized that Kolomoisky, in addition to his Cypriot citizenship, has also held Israeli and Ukrainian citizenship since 1995. At the same time, it is reported that he is being prosecuted in Ukraine on a number of episodes, as well as that the US State Department has banned him, his wife and children from entering the United States in 2021 due to his involvement in corruption during his tenure as head of the Dnipro Regional Administration.
“After an investigation by the Independent Commission, it was found that Kolomoisky was involved in serious crimes that attracted wide international attention from public and private entities with significant negative comments and accusations of fraud involving huge sums of money,” the newspaper states.
Source: https://interfax.com.ua/
The Republic of Cyprus has extended until March 4, 2025 the temporary protection status for persons who already have this status.
“The Ministry of Interior informs all interested parties that, based on the relevant decision of the Council of Ministers, the right to temporary protection is automatically extended for one year for those persons who have obtained such a right in Cyprus, i.e. until March 4, 2025”, – stated in the official announcement of the Refugee Service on the relevant website.
And it is specified that “thus, for those who have already received temporary protection, there is no need to submit a new application to the Refugee Service or to issue a new biometric residence permit at the Department of Population and Immigration.
Those who wish to apply for temporary protection for the first time must apply either electronically at http://www.moi.gov.cy/asylum or in person at the Refugee Service head office in Nicosia.
Cyprus has issued a temporary certificate of continuation of activity to the parent company of Astarta agro-industrial holding Astarta Holding N.V, certifying its registration as a company temporarily operating in the Republic of Cyprus under the name Astarta Holding PLC.
As the holding reported on the Warsaw Stock Exchange on Thursday evening, the corresponding certificate was issued to the company on September 16 by the Department of the Registrar of Companies and Intellectual Property of the Ministry of Energy, Trade and Industry of the Republic of Cyprus.
It is specified that Astarta received a temporary certificate of registration in Cyprus as part of the ongoing process of its cross-border migration to the jurisdiction of Cyprus from the Dutch jurisdiction.
“The migration has taken effect, which means that the company was temporarily registered in Cyprus under the name Astarta Holding PLC, the seat of the Company was transferred from Amsterdam (Netherlands) to Nicosia (Cyprus). The company lost its legal address in the Netherlands and began its activities under the name Astarta Holding PLC,” the holding said in an exchange message.
At the same time, the formal completion of the legal migration will occur after Astarta receives the final certificate of continuation of its activities, for which it needs to provide evidence of the official transfer of registration from the Dutch Commercial Register (Handelsregister) to the Companies Registry in Cyprus within 6 months after receiving the temporary certificate of registration .
According to the report, the change of jurisdiction of Astarta took place without dissolution of the company, termination of its existence or reincorporation, its shares were not replaced by new shares and remain listed on the Warsaw Stock Exchange. Also, migration does not affect the voting rights and the right to profit of the company’s shareholders.
Astarta is a vertically integrated agro-industrial holding operating in eight regions of Ukraine. It includes six sugar factories, agricultural enterprises with a land bank of 220 thousand hectares and dairy farms with 22 thousand heads of cattle, an oil extraction plant in Globino (Poltava region), seven elevators and a biogas complex.
In 2021, the agricultural holding increased its net profit by 14 times compared to 2020 – up to EUR122.5 million, EBITDA – by 1.8 times, up to EUR201.5 million. Its revenue increased by 18.2% – up to EUR491.35 million, a third of which (EUR170 million) was generated by the production and sale of sugar.
The Embassy of Cyprus has said it is gradually resuming its activity in Kyiv.
“The Embassy of Cyprus is gradually resuming its activity in Kyiv, in line with Cyprus consistent support to Ukraine in matters of principle. The flag of Cyprus is flying again in Kyiv as of May 3,” the embassy said on its Facebook page on Tuesday.
As noted, Head of the mission Lina Themistokleous has never left the territory of Ukraine and stayed in the war-ravaged Ukraine since February 24, and is now happy to welcome and assemble her team back, where it belongs.
