Israeli companies thriving in Cyprus

In recent years, a growing number of Israeli companies have established a strong presence in Cyprus, drawn by its strategic location, EU access and business-friendly environment.

From fintech and investment firms to consumer goods and hospitality groups, the following case studies highlight key Israeli players that have successfully integrated into the local economy, deepening business ties between the two neighbouring countries.

Diplomat

Operating in Cyprus since 2011, Diplomat has become a key player in the local fast-moving consumer goods (FMCG) market. The company provides end-to-end supply chain and distribution solutions, representing global brands such as Procter & Gamble (Gillette, Pampers, Ariel, Braun, Oral-B, Pantene), Duracell and Lipton. Former Group CEO and current Chairman Noam Weiman told GOLD that Cyprus’ advanced retail landscape and the dominance of modern trade made it an ideal entry point into Europe. “It was an opportunity for us to establish our footprint in Europe and extend our collaboration with Procter & Gamble, which we already represented in four other markets.,” he noted.

Plus500

Plus500 launched its Cyprus subsidiary, Plus500CY Ltd, in Limassol in 2014. The company operates a leading online trading platform, offering contracts for difference (CFDs) on more than 2,800 financial instruments – including shares, indices, forex, commodities and cryptocurrencies – as well as share dealing and futures. CEO David Zruia cited Cyprus’ pro-business culture and resilience, skilled workforce, advanced infrastructure and the strong regulatory reputation of the Cyprus Securities and Exchange Commission (CySEC) as key factors behind the decision. “This is why so many investors and multinational companies continue to choose Cyprus as the place to either set up or expand their global operations,” he said.

eToro

eToro entered the Cypriot market in 2010, choosing the country as the EU base for its multi-asset online trading platform. Known for its CopyTrader copy trading feature, eToro allows users to trade more than 7,000 instruments across stocks, cryptocurrencies, forex, commodities, CFDs and ETFs. Avi Sela, COO Regulations, pointed to CySEC’s regulatory depth and Cyprus’ role as a gateway to the European Economic Area as pivotal. “Cyprus offers a regulated gateway for financial firms to access the European Economic area and this works well for a rapidly growing business, such as eToro, which is continuously scaling,” he explained.

Fattal Hotel Group

Fattal Hotel Group made its entry into Cyprus in 2017 with the acquisition of three hotels in Paphos, which were subsequently rebranded under its Leonardo chain. By 2023, the Group had invested over €300 million in the island’s hospitality sector. Managing Director Roni Aloni highlighted the proximity to Israel and Cyprus’ pro-business environment as decisive. “We found Cyprus to be a very welcoming country and an environment that allows you conduct your business with ease. For example, we initially bought 732 rooms and we developed them very fast to over 1,100 rooms. We also found a very sound financial environment and a very open economy,” he told GOLD.

Globe Invest

Israeli investor and entrepreneur Teddy Sagi established Globe Invest Ltd, his single-family office, in Nicosia in 2016. The firm oversees a diversified US$2.5 billion portfolio, including real estate in London, Miami, New York, Dubai, Madrid and Bucharest. One of its hallmark assets is the Labs Towers in Nicosia, a 22-storey mixed-use development acquired by Trastor REIC in 2024. Cyprus also hosts most of Sagi’s business entities, including the Pay.com Group, a portfolio of payments companies. “Cyprus is a country with a unique location. The combination of the business-driven infrastructure, high-quality service providers, cost and operational efficiency and the safety and lifestyle it offers encourages people to move and work here,” he noted.

Marfields Group

Established in Cyprus in 2006, Marfields Group specialises in high-end real estate development, with a focus on high-rise residential projects that blend luxury design with advanced amenities and sustainable technologies. Its portfolio includes landmark developments such as The Ritz-Carlton Residences and Olympic Residences in Limassol and Central Park Residences in Nicosia. Offering turnkey solutions from concept to completion, the company has played a key role in introducing branded residences to the island. “Marfields will continue to invest in segments driven by demand, always seeking top-tier locations and specifications,” commented the Group’s Founder and Managing Director, Tal Mashkif.

This article was first published in the special publication Doing Business in Cyprus. To view it, click here. To read the entire publication, click here.