Regulatory Blog

Cyprus has transposed the Corporate Sustainability Reporting Directive into national law, marking a significant step towards enhanced corporate transparency and sustainability. The amendments to the Companies Law, among others, were published in the Official Gazette on 29 July 2025.

On 23 September 2025, the Cyprus Securities and Exchange Commission issued Circular C728, drawing attention to the recent amendments to Article 5h of Regulation (EU) 833/2014. These changes significantly expand the scope of restrictive measures against Russia in response to its military aggression against Ukraine.

The Cyprus Department of the Registrar of Companies and Intellectual Property recently issued a set of key reminders for all companies, partnerships, and European Public Limited Companies that are subject to reporting obligations with respect to the Beneficial Ownership Register in Cyprus.

European Union has issued significant and far-reaching sanctions and restrictive measures on Russia and the Russian Economy. View a table of all the sanctions here.

On 13 June 2025, the Cyprus Securities and Exchange Commission issued Directive DI 73-2009-05 to regulate Distributed Ledger Technology market infrastructures. This directive aligns with EU Regulation 2022/858, establishing a pilot framework for DLT-based market infrastructures.

Reporting Financial Institutions and Non-Reporting Financial Institutions in the British Virgin Islands are required to comply with new Common Reporting Standard obligations by 30 September 2025.

The National Sanctions Implementation Unit is now established under the Ministry of Finance in Cyprus, and has been set up on 25 July 2025 following the passing of the Establishment of the National Sanctions Implementation Unit and the Implementation of Restrictive Measures and National Sanctions in the Republic Law of 2025.

The Cayman Islands Monetary Authority has introduced a limited-time Non-Compliant Directors' Amnesty Scheme, running from 16 September to 15 October 2025. This initiative allows eligible registered directors with over two years of unpaid fees (as of 31 August 2025) to settle outstanding annual fees and penalties at a discounted rate.

On 18 June 2025, Cyprus published the “Prevention and Suppression of Money Laundering from Illegal Activities (Amendment) (No. 2) Law of 2025” (the Amending Law) in the Official Gazette of the Republic.

Following the invasion of Ukraine by Russia, the UK Government, alongside the member states of the European Union, the United States of America and other global stakeholders issued significant new sanctions. View a table of all the sanctions here.

On 25 July 2025, Cyprus published a new sanctions law, the Criminalisation of Violation of Restrictive Measures Law of 2025. This law replaces the current criminal penalties for sanctions violations with a robust framework to determine the criminal offences and penalties for breaches of EU sanctions and restrictive measures, ensuring stricter compliance and accountability.

The Central Bank of Cyprus introduced three significant directives, effective from 2025, aimed at strengthening the regulatory framework governing Electronic Money Institutions and Payment Service Providers. These directives are designed to ensure compliance with European Union standards, enhance governance, and safeguard financial stability. Below is a detailed overview of the directives: