The Kingdom of Cyprus, ruled by the Lusignan family since 1192, has long since declined, and has been a tributary state of the Mamluks since 1426.

Following the death of James II, the last Lusignan king, in 1473, Venetian merchants had assumed control of the island, while the late king's Venetian widow, Queen Catherine Cornaro, reigned as figurehead.

The Republic of Venice formally annexes Cyprus on March 14, 1489, following the Catherine’s forced abdication.

Thus has the last Crusader state become a Venetian colony.

As compensation, Catherine is allowed to retain the title of Queen and in 1489 is made the Sovereign Lady of Asolo, a county in the Veneto of Italy.

Nicosia becomes their administrative center and the seat of the Republic of Venice in Cyprus.