Business news from Ukraine

Business news from Ukraine

Cyprus intends to develop cooperation with Mariupol University

Cyprus intends to develop cooperation with Mariupol University, which was evacuated from Mariupol after the start of the full-scale war and continues to operate in territory controlled by Ukraine. This was stated by the Ambassador Extraordinary and Plenipotentiary of the Republic of Cyprus to Ukraine, Michalis Firillas, during a meeting with a representative of Interfax-Ukraine.

“Cyprus is a European hub for educational programs, and we see great potential in cooperation with Ukrainian universities. In particular, we are interested in developing a partnership with Mariupol University, as Mariupol has historically been the center of the Greek community in Ukraine. This creates a natural bridge for educational and cultural projects,” the diplomat said.

Firilas stressed that educational cooperation should become an important component of bilateral relations. “We want students and teachers from Ukraine to have more opportunities to participate in academic programs in Cyprus, and Cypriot universities to participate in joint research and exchanges,” he said.

According to the ambassador, Cyprus is also ready to expand scholarship programs in cooperation with Mariupol University so that Ukrainian students can receive a quality European education and participate in international academic initiatives. He added that this would contribute to the integration of Ukrainian educational institutions into the European academic space.

 

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President of Ukraine accepted credentials from ambassadors of Cyprus, Latvia, and Pakistan

The President of Ukraine, Volodymyr Zelenskyy, accepted credentials from the newly appointed ambassadors of Cyprus, Michalis Firillas, Latvia, Andrejs Pildegovičs, and Pakistan, Kanwar Adnan Ahmed Khan, according to the press service.

“Volodymyr Zelenskyy and Michalis Firillas discussed increasing sanctions pressure on Russia, food security, joint projects within the European Union, the security situation in the region, and cooperation with partners, particularly in multilateral formats,” the statement said.

In addition, Zelensky and the Cypriot ambassador discussed Ukraine’s future membership in the European Union and priorities during Cyprus’ presidency of the Council of the European Union in the first half of 2026.

The president also discussed with Pildegovičs the development of the PURL initiative, increasing pressure on Russia, and humanitarian aid. The ambassador assured that Latvia would actively promote Ukraine’s interests at the UN next year when the country becomes a non-permanent member of the organization.

Zelensky discussed with the Pakistani ambassador the development of bilateral cooperation, particularly in the defense and military-technical spheres, as well as partnership in trade and food.

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There currently around 28,000 Ukrainian refugees in Cyprus, according to Ambassador of Republic of Cyprus to Ukraine

There are currently around 28,000 Ukrainian refugees in Cyprus, which is one of the highest figures in the world in relation to the island’s population. This was stated by the newly appointed Ambassador Extraordinary and Plenipotentiary of the Republic of Cyprus to Ukraine, Michalis Firillas, during a meeting with a representative of Interfax-Ukraine.

“We understand that the war has forced many Ukrainians to leave their homes. Cyprus has become a safe haven for them, and we are proud to be able to provide them with support,” the diplomat said.

According to him, Ukrainian refugees in Cyprus have access to free medical care, can use the state education system, and also receive support in employment and social benefits. “Our government is doing everything possible to ensure that Ukrainians integrate into Cypriot life as quickly and comfortably as possible,” Firillas emphasized.

He stressed that Cyprus will continue to support Ukraine and the Ukrainian people by providing both humanitarian aid and political support on the international stage.

 

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Cyprus is ready to expand cooperation with Ukraine in field of rehabilitation programs for citizens

Cyprus is ready to expand cooperation with Ukraine in the field of rehabilitation programs for citizens affected by the war. This was stated by the Ambassador Extraordinary and Plenipotentiary of the Republic of Cyprus to Ukraine, Michalis Firillas, during a meeting with a representative of Interfax-Ukraine.

“Cyprus is known not only as a resort country, but also for its modern medicine and high-quality rehabilitation services. We want to use this potential to help Ukrainians who need treatment and recovery from injuries and psychological trauma,” the diplomat said.

According to him, Cyprus already has a number of medical centers and clinics specializing in physical rehabilitation, post-operative recovery, and psychological support. “We are interested in creating joint programs with Ukrainian partners that will allow our medical institutions to accept more patients from Ukraine,” Firillas emphasized.

The ambassador added that this cooperation could include both the treatment of military and civilians, as well as training programs for Ukrainian doctors and rehabilitation specialists. “Our task is to ensure that Ukrainians receive quality care and support during the most difficult time for them,” he concluded.

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Cyprus has named main countries buying real estate: British in lead, Ukrainians in 9th place

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)

  1. United Kingdom — about 11,800 properties.
  2. Russia — approximately 4,924 properties.
  3. Greece — about 4,657 properties.
  4. Israel — 3,909 properties.
  5. Lebanon — 2,078 properties.
  6. China — 1,226 properties.
  7. Germany — in the top 10 (without specifying the number).
  8. Romania — in the top 10 (without specifying the number).
  9. Ukraine — consistently in the “second five”, approximately 9th place; Ukrainians are particularly noticeable in Limassol and Paphos.
  10. Belarus — in the top 10 (without specifying the number).

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:

  • Price growth: in 2024, the total volume of transactions reached a record €5.7 billion; the cost of apartments in Nicosia and Larnaca increased by 7-10% over the year.
  • Shift in demand: foreign buyers are increasingly choosing the mid-range segment instead of ultra-expensive villas, focusing on residence permit programs and rentals.
  • Leading locations: Limassol and Paphos remain key centers of interest, but the share of transactions in Nicosia and Larnaca is growing.
  • Rental market: high demand for long-term rentals in cities with universities and IT offices; rental yields are around 3.5–4% per annum.

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.

Source: http://relocation.com.ua/cyprus-named-the-main-countries-buying-real-estate-with-the-british-leading-the-way-and-ukrainians-in-ninth-place/

 

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New Ukrainian ambassador to Republic of Cyprus appointed

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.

 

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