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Cyprus Leverages Migration Reform To Attract Global Talent And Strengthen Economic Resilience

Cyprus is emerging as a global hub for skilled migrants, with strategic reforms in migration policy propelling the island nation to the forefront of economic innovation. Deputy Minister of Migration Nicholas Ioannides has detailed how legal migration is being transformed from a mere administrative task into a vital development tool, harnessing digital innovation and precise matching of skills to market needs.

Legal Migration As A Strategic Imperative

In an interview with Philelenews, Ioannides explained that the nation’s revamped approach treats legal migration as a catalyst for productivity and societal well-being. By offering fair and predictable procedures for both employers and employees, Cyprus is not only streamlining bureaucratic processes but also paving the way for a more robust, digitally-enabled migration system.

Countering Irregular Migration Through Precision

Strengthening legal channels has emerged as an effective weapon against irregular migration and human trafficking. By establishing efficient, transparent procedures, Cyprus minimizes the incentives for migrants to resort to criminal networks, thereby reinforcing the integrity of its migration system. Strict compliance and clear mandates ensure that non-compliant migrants face appropriate sanctions and return procedures.

Diverse Migrant Demographics Drive Economic Dynamism

Recent data reveals that 175,677 third-country nationals held legal residence permits as of September 2025, underpinning the nation’s reliance on foreign labor across a spectrum of sectors. This multidimensional population includes domestic workers, employees of foreign-owned firms, and students, among others. Notably, there has been a sharp increase in employment permits in both general and domestic work, reflecting an adaptive response to shifting demographic and economic demands.

Global Talent And Strategic Workforce Management

Statistical insights indicate a robust mixture of nationalities, with Russians, British nationals, Nepalis, Indians, and Syrians forming the largest groups. This influx of global talent is particularly pronounced in sectors such as hospitality and foreign-invested enterprises, where the increased issuance of permits underscores an ongoing reliance on international expertise to drive economic growth.

Conclusion: A Model For Resilient Economic Policy

Cyprus’s comprehensive migration reforms serve as a testament to how modern digital services, targeted permit schemes, and stringent legal channels can collectively reinforce economic resilience. The nation’s strategic recalibration of its migration framework not only curtails irregular migration but also fosters an environment where global talent can drive sustained productivity across key sectors.

doValue Cyprus Strengthens Market Leadership With New Astrobank Portfolio

Expanding Market Influence

Loan and real estate management firm doValue Cyprus has significantly reinforced its domestic presence in non-performing loan servicing by acquiring a new portfolio from Astrobank Public Company Limited. This development follows Astrobank’s recent transition, marked by the transfer of key operations to Alpha Bank Cyprus Limited and the subsequent surrender of its banking licence.

Strategic Acquisition And Swift Execution

Finalized on November 3, 2025, the agreement underscores a decisive strategic shift as doValue Cyprus assumes management of Astrobank’s remaining portfolio. The immediate commencement of portfolio management is a testament to the firm’s commitment to delivering specialized, resilient solutions within the non-performing loan market.

Expertise Driving Market Growth

Chief Executive Officer Varnavas Kourounas emphasized that the latest portfolio acquisition not only expands the firm’s operational footprint but also validates its credibility and deep expertise in the competitive Cypriot financial sector. The strategic move is aligned with the broader growth ambitions of the doValue Group.

Broader Market Implications

Operating as part of the international doValue Group—the largest independent loan and real estate management organization in Southern Europe—doValue Cyprus is well-positioned to leverage its newly expanded portfolio. With approximately €136 billion in assets under management, the group maintains a dominant presence across Italy, Greece, Spain, Portugal, and Cyprus. Moreover, its subsidiary, Altamira Real Estate, runs Cyprus’ largest real estate platform, managing extensive property portfolios alongside the island’s most comprehensive sales network.

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