Cyprus Rises as a Global Film Production Nexus with Copper Island’s Strategic Expansion

Strategic Expansion into a Film Powerhouse

In a decisive move that underscores its commitment to excellence in international film production, Copper Island has announced the establishment of its new operational headquarters in Limassol, Cyprus. This expansion aligns with the company’s calculated strategy to harness the island’s untapped potential and reinforces Cyprus’ position as a burgeoning hub in the global cinematic landscape.

Global Partnerships and High-Calibre Productions

With a formidable presence across the United States, the United Kingdom, Europe, and Australia, Copper Island boasts a portfolio that includes investments exceeding $100 million in production budgets. The company’s involvement in high-profile projects has forged collaborations with celebrated directors such as Ron Howard, Gus Van Sant, and Simon West, and featured internationally renowned actors including Sir Anthony Hopkins, Al Pacino, Ana de Armas, and Jude Law. This impressive network of international partners, producers, and distributors fortifies its standing on the world stage.

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State-of-the-Art Facilities in Limassol

Copper Island’s new post-production studio, nestled in the heart of Limassol’s historic centre, is a landmark achievement—the first fully integrated facility of its kind in Cyprus. Designed to meet the exacting demands of global film production, the studio is equipped with advanced technology that supports a wide array of services from precise editing and color grading to Dolby 7.1 sound mixing and digital archiving. This facility not only elevates the technical standards locally but also positions Cyprus as a destination for high-quality film production.

Empowering Local Talent and Fostering Global Alliances

David Mansfield, Director of Operations at Copper Island, emphasizes that this initiative is far more than geographic expansion; it represents a calculated decision to embed the company within a region that marries strategic location with modern infrastructure and a vibrant creative community. By actively collaborating with Cypriot creatives, Copper Island aims to bridge local talent with the broader international film industry, offering opportunities for professional growth and global exposure. This initiative is set to catalyze long-term economic and cultural benefits for the island.

Forging a New Era for Cyprus in the Film Industry

As Copper Island carves out its niche in Cyprus, the move lays a robust foundation for the island’s evolution into a recognised centre for creative production. By blending expert production capabilities with a commitment to nurturing local expertise, the company not only enhances Cyprus’ cultural landscape but also its economic stature on the international stage. This development marks a significant milestone in the country’s strategic ambition to become a key player in the cinematic world.

The Future Forbes Realty Global Properties

Cyprus Foreclosure Reform Debate Intensifies Amid Rising Non-Performing Loans

by THEFUTURE.TEAM

February 18, 2026

Political Stakes And Foreclosure Regulation

Cypriot political parties are engaging in a high-stakes debate in parliament as they deliberate changes to the legal framework governing foreclosures ahead of the May parliamentary elections. The proposed shifts are aimed at curbing the rapid escalation in the value of non-performing loans, a trend that has sparked significant public and legislative concern. Confidential data from the Central Bank of Cyprus indicates that the nation has not yet moved away from its longstanding issues related to so-called “red loans.”

Non-Performing Loans: A Mounting Financial Challenge

Recent figures show that the value of distressed loans has continued to rise, surpassing €20 billion following transfers involving banks and credit recovery companies. This level exceeds the approximately €15 billion recorded during the economic crisis period. Central Bank data indicates that after loan sales, credit recovery firms now manage portfolios totaling €19.7 billion, of which €18.5 billion are classified as non-performing. About 87% of these loans are considered terminated, while the firms acquired 141,478 loans for €3.2 billion, roughly 80% below their original value.

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Credit Recovery Companies: Overshooting Investment Returns

By June, credit recovery companies had recovered €5.7 billion through a combination of cash repayments, judicial asset auctions and property-for-debt exchanges. Cash repayments accounted for €3.6 billion, judicial recoveries contributed €619 million, and property swaps added €1.5 billion. These recoveries exceeded the original purchase cost of many loan portfolios while overall balances continued to increase due to accrued interest, a development that remains a concern for policymakers.

Bank Portfolios And The Impact On Financial Stability

Data from the State Guarantee Fund for Deposits and Loans shows that 77,561 loans valued at €7.5 billion were transferred, leaving a remaining balance of €5.7 billion by June 2025, of which €5 billion are non-performing. Within the banking sector, non-performing loans totaled €1.45 billion across 24,736 accounts as of last June. Since December 2024, these figures have improved by approximately €86 million due to repayments and asset recoveries. The reduction in problematic loans has lowered bank exposure compared with levels recorded during the 2013 crisis.

Legislative Proposals And Government Considerations

Political leaders argue that adjustments to foreclosure procedures can be introduced without undermining banking stability. Parliament’s Economic Committee is scheduled to begin discussions on March 9, with an estimated 20 to 30 legislative proposals currently pending from multiple parties. While the Ministry of Finance has not announced immediate legislative action, officials are evaluating the potential reintroduction of elements of the Rent-Versus-Rate plan for vulnerable borrowers, subject to fiscal impact assessments.

Advocacy From AKEL And Environmental Groups

Proposals supported by the AKEL party and several civil organizations focus on strengthening legal protections for borrowers. Among the suggested measures is restoring the right to seek judicial relief to delay foreclosures in cases involving disputed charges or alleged abusive contract clauses. AKEL representative Aristos Damianou criticized the pace of foreclosure proceedings and warned of risks to primary residences and small businesses.

Proposals Targeting Guarantors And Foreclosure Processes

The Democratic Rally party has introduced a proposal aimed at limiting guarantor liability during foreclosure procedures. Under the draft measure, if a property is auctioned or repossessed, the guarantor’s responsibility would be capped at the original loan amount adjusted by recovered sums. The proposal also requires that enforcement actions against guarantors be suspended until a court ruling is issued if the borrower formally disputes the debt.

Revisions Proposed By The Democratic Party of Cyprus

The Democratic Party is also preparing new legislative measures to be introduced on Thursday. Party leader Mario Karogian outlined plans to suspend the foreclosures of primary residences valued up to €350,000 until the end of the year, allowing time to address legislative gaps. Additional proposals include broadening the powers of the Financial Ombudsperson to make binding decisions on disputes up to €50,000, enforcing the Central Bank’s code of conduct, and ensuring strict adherence to refinancing guidelines for first residences.

Outlook And Strategic Implications

The range of proposals reflects an ongoing effort to balance financial system stability with stronger consumer protections. Decisions made in the coming months are expected to shape the regulatory environment for foreclosures and influence broader confidence in Cyprus’ financial sector and economic outlook.

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