Project Summary:

• Investment Growth: Cyprus shows significant growth in startup investments, surpassing pre-COVID levels (40 deals and $139 million in 2024, up 25% and 170% from 2020, respectively).
• Immigration is the Growth Driver: Key growth factors include an influx of entrepreneurs and startups from Eastern Europe, government support, positive regulatory changes, stimulating programs, and the immigration of investors (funds and angel investors) from CIS countries.
• ICT became the key segment: The ICT sector accounts for 12% of Cyprus's GDP, with approximately 40% of ICT employees being immigrants, predominantly from CIS countries.
• Dominance of Immigrant Startups: Startups founded by individuals from CIS countries (notably Russia, Ukraine, and Belarus) attract the majority of investments, accounting for over 60% of all deals. 49% of Cypriot startup founders are from CIS countries.
• Cyprus - startup hub (not just tax heaven): Around 65% of surveyed startup founders are

physically located in Cyprus, have legal entities there, and parts of their teams; an additional 4% plan to establish legal entities and obtain residency in Cyprus.