Yes, it is possible for a Cyprus entity to be 100% foreign-owned. Cyprus has no restrictions on foreign ownership of companies, which means that non-Cypriot residents and non-Cypriot entities can own and operate businesses in Cyprus.
In fact, Cyprus is a popular location for foreign investors and companies looking to establish a presence in Europe, as it offers a favorable tax regime, a strategic location, and a business-friendly environment. As a member of the European Union, Cyprus also benefits from access to the EU single market, which can be attractive for businesses looking to expand into Europe.