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Trademark registration and brand protection in Cyprus

In today’s competitive business environment, safeguarding your intellectual property is just as critical as building it. A strong trademark is important for inspiring greater connection with consumers and leading to better performance over time. For businesses active in or connected with Cyprus, trademark registration is more than a formality; it is a key investment in brand security, reputation, and growth.

Table of contents

  1. Legal framework and protection
  2. Trademark registration process
  3. Benefits
  4. Why legal expertise matters

Legal framework and protection

The protection of trademarks in Cyprus is based on two main pieces of legislation: the Trademarks Law, last amended in 2006, and the Law on the Control of Goods Infringing Intellectual Property Rights of 2018. These provide a comprehensive legal framework allowing businesses to safeguard their commercial identity.

A trademark in Cyprus can consist of a wide range of elements, including business names, logos, letters, product packaging, colours, sound signatures, and even holograms. Once registered, the trademark gives its owner exclusive rights to use and control that mark in the Cypriot market. Owners can license, assign, or even sell these rights, making trademarks not only a protective tool but also a commercial asset. The duration of protection is long-term. A trademark is initially secured for a period of ten years from the date of registration, and it can be extended in additional ten-year cycles as long as renewal fees are paid.

For broader protection, businesses often extend their filings to the European Union Intellectual Property Office (EUIPO) or the World Intellectual Property Organization (WIPO).

For a trademark application to be accepted, the mark must be distinctive, and must not be generic, deceptive, merely descriptive, or likely to cause confusion with earlier rights.

Trademark registration process

Filing for trademark registration in Cyprus is handled through the Intellectual and Industrial Property Office. The application must include a description of the proposed mark, the list of goods or services it will represent, and payment of the relevant fees. As of 2025, the cost for an electronic submission starts at €129, with €94 for every additional class of goods or services. Collective or certification marks require a higher fee, starting at €415.

Once the application is submitted, it undergoes an initial review to confirm that all required details have been provided. It then proceeds to a more detailed assessment, where examiners consider whether the trademark is distinctive and whether it conflicts with existing rights.

If the Office raises concerns, the applicant has an opportunity to respond, adjust the application, or challenge the decision. In some cases, appeals can be taken to the Administrative Court. Once accepted, the trademark is published in the Official Gazette of the Republic of Cyprus and becomes enforceable against third parties provided that during the “cooling off period” no oppositions have been traced against the trademark application. The estimation of the “cooling off period” is three months from the publication of the trademark in the Official Gazette of the Republic of Cyprus

Benefits

Trademark registration offers businesses a range of advantages. It grants the exclusive right to use the mark in commerce, effectively blocking competitors from using similar signs. This exclusivity creates a competitive advantage, strengthens consumer trust, and adds value to the brand. Because trademarks can be sold, franchised, or licensed, they also become income-generating assets.

Why legal expertise matters

Although it is technically possible for a business to attempt the process alone, trademark law in Cyprus can be complex. Partnering with an experienced intellectual property lawyer helps ensure the application is filed correctly and that any objections or oppositions are handled strategically.

For foreign businesses, having local representation is not only beneficial but also required. A Cypriot lawyer must act as the official representative before the Intellectual and Industrial Property Office.

Conclusion

A well-protected brand may become the business’s most valuable asset, and in an increasingly globalised market, taking proactive steps in Cyprus can set the stage for expansion and success far beyond its borders.

The Cypriot legal framework is robust, offering ten-year protection that can be renewed indefinitely, but the process does require careful preparation and expert navigation.

Our team of experienced intellectual property lawyers in Cyprus provides end-to-end support with trademark searches, applications, oppositions, renewals, and enforcement, ensuring your brand is fully protected at every stage.

In addition to handling trademarks, experienced lawyers can advise on complementary areas such as patents, industrial designs, and copyright.

For more information please contact Nicole Prodromou (nicole.prodromou@demetriades.com) or your usual contact at Chrysses Demetriades & Co LLC.


Why Cyprus is an ideal EU base for fintech startups

Fintech is booming in Europe, projected to surpass €171 billion by 2030, and Cyprus is making a bold name for itself. From e-money to crypto licensing, it offers the perfect balance of EU compliance, low bureaucracy and innovation support. Here’s why more fintech startups are calling Cyprus home.

Table of contents

  1. Why Cyprus attracts fintechs
  2. Fintech licensing: Clear, fast, flexible
  3. Compliance made practical
  4. Innovation support
  5. Conclusion: Cyprus, A fintech gateway

Why Cyprus attracts fintechs

Cyprus has steadily positioned itself as one of the most accessible, innovation-ready fintech jurisdictions in the EU. Its regulatory model is fully aligned with the Markets in Financial Instruments Directive II (MiFID II), the Payment Services Directive 2 (PSD2), and the Electronic Money Directive (EMD), allowing licensed fintechs, payment or e-money providers to passport services across the entire European Union and European Economic Area (EU/EEA). For entrepreneurs looking for a stable, pro-business environment with global reach, Cyprus is a strategic gem.

Key benefits include:

  • EU-wide licensing: Set up in Cyprus and operate seamlessly across all EU/EEA states.
  • Business-friendly setup: Competitive tax regime, English-speaking professionals, and transparent legal infrastructure.
  • Regulatory clarity: Cyprus has prepared for and is implementing all key EU digital finance laws: the Markets in Crypto-Assets Regulation (MiCA), the Digital Operational Resilience Act (DORA) and the EU Crowdfunding Regulation. In this respect, the key regulators in Cyprus, being the Central Bank of Cyprus (CBC) and the Cyprus Securities and Exchange Commission (CySEC) are transitioning to and putting in place an effective supervisory framework to assist the practical application of this legislation in Cyprus.
  • Crypto & digital assets: The country’s jurisdiction allows registration of Crypto-Asset Service Providers (CASPs) under Anti-Money Laundering (AML) rules. MiCA is expected to roll out smoothly thanks to this proactive stance. CySEC is closely following and adopting ESMA’s guidelines on these matters and has already issued circulars to provide clarity on the applicable procedures.

Cyprus’s geographical location at the crossroads of Europe, the Middle East, and Africa also strengthens its appeal as a hub for cross-border fintechs. Moreover, the jurisdiction offers access to top talent, strong infrastructure, and a digital finance culture that encourages growth.

Fintech licensing: Clear, fast, flexible

In Cyprus, fintech regulation is segmented into clear categories. This means you can identify exactly what kind of license you need based on your model, and begin operations with confidence.

Electronic Money Institutions (EMIs): These are entities that offer products like prepaid cards and mobile wallets. They are licensed by the Central Bank of Cyprus (CBC) under the Electronic Money Law of 2012, as amended. The latter is based on two EU directives: one that regulates electronic money (Directive 2009/110/EC – EMD), and another that sets rules for payment services (Directive (EU) 2015/2366, known as PSD2). Because EMIs often offer both types of services (electronic money and payment services) they are subject to compliance with both sets of rules. To get licensed, applicants must submit a strong business plan, provide governance documents and organisational charts, and hold at least €350,000 in initial capital.

Payment Institutions (PIs): These are entities that offer payment services, such as money transfers, online payment processing, execution of payment transactions and merchant payment gateways. In Cyprus, they are regulated by the Payment Services Law of 2018, as amended, which brings the relevant EU PSD2 rules into local law. PIs are also licensed by the CBC and must show that they have strong AML systems, adequate safeguards for protecting client money, reliable technical infrastructure, and enough capital based on the services they offer.

Cyprus Investment Firms (CIFs): Trading platforms and asset managers must be authorized as CIFs by Cyprus Securities and Exchange Commission (CySEC), under the Investment Services and Activities and Regulated Markets Law of 2017, as amended. This process includes detailed applications, fit-and-proper checks on directors, and compliance with MiFID II. Licensing process may take around 6 to 9 months.

Crypto-Asset Service Providers (CASPs): Crypto exchanges, custody wallet providers, and digital asset platforms must register with CySEC under AML rules. While this is a registration focusing on AML, customer due diligence, risk assessment, and transaction monitoring, rather than a full crypto license, Cyprus is aligning this regime with the incoming MiCA regulation that is expected to reshape the crypto licensing landscape across Europe.

Crowdfunding platforms: Licensed under the EU Crowdfunding Regulation (EU 2020/1503 -introduced in the Cyprus legal order through the Provision of Crowdfunding Services for Businesses Law of 2024), platforms facilitating peer-to-peer lending or equity crowdfunding must apply through CySEC. Licensing involves investor protection measures, risk disclosures, and platform security protocols.

Each license has well-defined requirements and regulators (CBC or CySEC) who provide guidance through Innovation Hubs, reducing friction for startups entering the market.

Compliance made practical

Running a fintech in Cyprus means embracing regulatory excellence, but with flexibility and support that’s hard to find in larger EU jurisdictions.

AML & KYC: Under Law 188(I)/2007, as amended, all regulated entities must have strong AML and terrorist financing frameworks. Know-Your-Customer (KYC) procedures, suspicious transaction reporting, and real-time monitoring are all standard.

Data protection – General Data Protection Regulation (GDPR): Cyprus fully enforces the EU GDPR and supplements it with Law 125(I)/2018, as amended. Fintechs handling personal or financial data must have lawful processing policies, clear consent mechanisms, and security safeguards including the appointment of Data Protection Officers (DPOs) where applicable.

MiFID II / PSD2 / EMD compliance: All licensed PIs, EMIs, and CIFs must comply with conduct of business rules, capital adequacy standards, and client asset protection regulations. These create a framework that protects users while giving businesses the operational freedom to grow.

Cybersecurity & operational resilience  – DORA: Coming into force in early 2025, DORA requires all fintechs to manage Information and Communication Technology (ICT) risks, monitor service provider security, and report serious cyber incidents. Cyprus regulators are already helping firms prepare through workshops and guidance.

What sets Cyprus apart is the practical approach to enforcement. CySEC and CBC are proactive but collaborative, preferring dialogue and improvement over unnecessary penalties, especially for well-intentioned, early-stage fintechs. This makes compliance a competitive edge, not a roadblock.

Innovation support

Cyprus isn’t just focused on regulation; it’s also very supportive of innovation. In 2024, CySEC launched a Regulatory Sandbox to let fintech companies test new ideas in a controlled environment without immediately meeting full licensing requirements. This includes pilots for AI-powered financial tools and blockchain settlement platforms. CBC also operates its Innovation Hub, which offers early-stage fintechs informal guidance on licensing routes, risk models, and compliance setup. These initiatives de-risk early product launches, accelerate licensing readiness, provide constructive regulator feedback and improve investor and consumer confidence.

Conclusion: Cyprus, a fintech gateway

Cyprus is no longer just a financial services hub; it’s becoming Europe’s front door for fintech innovation. With access to the EU market, forward-thinking regulators, and a streamlined licensing process, Cyprus provides the strategic legal clarity fintechs need, without the red tape of larger jurisdictions. Whether you’re building a crypto exchange, digital bank, payment app, or next-gen trading platform, our jurisdiction offers both the regulatory structure and innovation support to help you succeed. As fintech continues to mature, the real differentiator for sustainable growth will be the ability to scale with foresight and full regulatory confidence.

At Chrysses Demetriades & Co. LLC, we support fintech founders, investors, and operators in turning complex regulation into a clear competitive advantage. Whether you’re entering the EU market or expanding your footprint, our team is here to help you structure, license, and grow, securely and efficiently – from Cyprus.

Contribution to landmark textbook on Cyprus New Civil Procedure Rules

Our associates, Iphigenia Fisentzou and Christina Lougkridou, have contributed to the first comprehensive legal textbook dedicated to the New Civil Procedure Rules of Cyprus, introduced in 2023; a milestone reform in the country’s civil justice system.

The book, Κυπριακή Πολιτική Δικονομία, is the product of a collaborative effort by a team of distinguished legal practitioners and academics. It offers in-depth analysis of key aspects of civil procedure, including the structure of the courts, the right to a fair trial, procedural steps before the courts, and alternative dispute resolution methods. Special emphasis is given to the 2023 Rules, which replaced the long-standing previous regime and aim to modernise and streamline civil proceedings.

Iphigenia served also as a member of the editorial team and authored the chapter on “The Overriding Objective”, co-authored the chapter on “The Court’s Powers”, and, together with Christina, co-authored the chapter on “Costs”.

Designed as a practical guide for judges, lawyers, students, and all those involved in the Cypriot civil justice system, this publication provides essential insights into the updated procedural framework and serves as a valuable resource for navigating the new legal landscape.

More information about Κυπριακή Πολιτική Δικονομία, including details on its content and availability, can be found on the publisher’s website.

We congratulate all contributors on this significant achievement and look forward to the positive impact this work will have on legal practice in Cyprus.

Cyprus as a strategic choice for highly skilled professionals

With a well-established non-domicile regime and the recent alignment of its immigration rules with the EU Blue Card Directive, Cyprus already offers EU-wide career mobility and stands out as one of the most attractive EU jurisdictions for highly skilled professionals. So what is next for attracting more global talent?

Tax optimisation and EU-wide career mobility through an enhanced dual regime

The February 2025 tax reform proposals, though not yet enacted, signal a commitment to enhancing an already competitive environment, introducing measures aimed at extending non-dom benefits, broadening residency eligibility and refining personal income taxation.

Together, these developments underscore Cyprus’s unique positioning at the intersection of low-tax living and full EU mobility. For tech founders, asset managers, and internationally mobile professionals, Cyprus offers a framework that is both robust today and set to become even more compelling.

Table of contents

• The upgraded non-dom regime

• Redefining tax residency rules

• EU Blue Card: your mobility pass

• Strategic outlook for professionals

• Final thoughts & future outlook

The upgraded non-dom regime

Cyprus’s non-domicile regime, launched in 2016, has become a leading incentive for high-net-worth individuals, international professionals, and entrepreneurs seeking tax efficiency within a European Union jurisdiction. The framework operates under the combined application of the Income Tax Law 118(I)/2002 (IT Law), the Special Defence Contribution Law 117(I)/2002 (SDC Law), and the Wills and Succession Law Cap 195 (W&S Law), all as amended. The 2025 proposed reforms retain the strategic advantage of the rules and introduce certain improvements.

The benefits for non-doms remain substantial:

• exemption from Special Defence Contribution (SDC) on dividends, interest, and foreign rental income

• no capital gains tax on securities (with the exception of Cyprus-based real estate)

• no wealth, gift, or inheritance tax

• income over €100,000 remains eligible for the 50% exemption for 10 years

Employment income attractiveness is now being enhanced; the tax-free threshold increases to €20,500. New personal deductions for families, mortgage interest, and green investments provide further tax planning opportunities, especially for those building a life in Cyprus. Moreover, the proposed reforms allow indefinite extension of non-dom status, subject to an annual fee. This replaces the previous 17-year cap, offering long-term fiscal planning security.

This evolution of the non-dom regime ensures Cyprus remains a long-term base for wealth preservation and a safe haven in an increasingly competitive EU tax environment.

Redefining tax residency rules

Cyprus currently offers two main residency routes:

• the 183-day rule, based on physical presence

• the 60-day rule, allowing tax residency with a shorter stay if you have economic ties and no other residency

Under the 2025 proposals, the 60-day rule is expanded to include individuals whose centre of business interests lies in Cyprus, even if their physical presence is minimal. This change shifts the emphasis toward economic substance over physical relocation; a major win for remote professionals and international entrepreneurs.

This makes Cyprus particularly attractive to:

• digital nomads managing global ventures

• startup founders looking to anchor operations in an EU jurisdiction

• executives coordinating group structures from abroad

In essence, the redefined rules break the traditional link between tax residency and constant presence, giving entrepreneurs far more flexibility in how they manage their time and tax exposure. To benefit, applicants must still demonstrate business operations or key economic decision-making located in Cyprus, and ongoing compliance with IT and SDC law through filings and declarations.

This change modernises Cyprus’s tax framework, aligning it with a global workforce increasingly untethered from fixed locations.

EU Blue Card: your mobility pass

As of 7 July 2025, Cyprus has implemented the EU Blue Card, aligning its immigration framework with Directive (EU) 2021/1883. This harmonised permit offers third-country nationals a clear route into the EU job market. Combined with the tax advantages Cyprus offers, it’s a compelling package.

Eligibility requires:

• a university degree or three years’ recent experience in a relevant field

• a binding offer of employment in ICT, pharma R&D, or shipping (excluding seafaring roles)

• a minimum gross annual salary of €43,632

Benefits of the Blue Card include:

• the right to live and work in Cyprus

• equal treatment with nationals in employment, education, and social security

• family reunification

• short-term travel within the EU (90 days)

• mobility to another EU Member State after 12 months of residence in Cyprus

This allows skilled professionals to not only secure a favourable tax base but also leverage EU-wide mobility for business or career growth.

Combined with the non-dom regime, the Blue Card transforms Cyprus into a regional gateway—one where talent can establish, grow, and scale cross-border ambitions with minimal friction.

Strategic outlook for professionals

The combination of a more flexible residency framework, an extended non-dom regime, and a fully functional Blue Card system puts Cyprus in a league of its own.

Subject to the official adoption of the proposed reform:

• non-dom status can now be maintained indefinitely with a fee, offering certainty rare in EU tax law

• residency via economic interest frees professionals from the need to physically relocate

• new deductions support family life, real estate investment, and green upgrades—aligning tax incentives with personal priorities

• the corporate tax rate may increase to 15%, but strategic advantages remain via extended loss carryforward (from 5 to 10 years) and continued support for IP Box, Notional Interest Deduction, and Tonnage Tax regimes

Whether you’re relocating as a professional or scaling a business through Cyprus-based entities, these changes empower you to structure your affairs with predictability, compliance, and efficiency.

Final thoughts & future outlook

Cyprus’s 2025 reforms are more than just technical updates—they represent a broader vision for economic competitiveness. By expanding access, rewarding substance, and aligning incentives with modern lifestyles, Cyprus offers a model worth watching.

For professionals seeking an EU base without punitive tax consequences, or for businesses aiming to attract and retain top global talent, the updated framework presents an increasingly compelling proposition.

The true potential lies in combining available instruments: Blue Card access, non-dom optimisation, and carefully structured long-term planning. With the legal and fiscal tools firmly in place, the jurisdiction enables strategic decision-making that balances compliance, opportunity, and resilience across shifting international environments.

For tailored legal guidance on non-dom planning, EU Blue Card applications, or cross-border structuring, contact our team at Chrysses Demetriades & Co LLC at info@demetriades.com.



The European Accessibility Act (EAA): Key points for Financial Service Providers

The European Accessibility Act (EAA) introduced a harmonised framework across the EU to enhance access to key products and services for persons with disabilities. Cyprus transposed the EAA into national law through the Accessibility of Products and Services Law of 2024 (the “Law”), which came into force on 28 June 2025. This development has important consequences for services providers, including, financial service providers operating in Cyprus.

Legal Background

The Law applies to both products and services offered within the EU, aiming to remove barriers for persons with disabilities. It defines “persons with disabilities” as those with long-term physical, mental, intellectual or sensory impairments that may hinder their participation in society on an equal basis with others.

Applicability to Financial Services Providers

From 28 June 2025 onwards the Law applies to services, inter alia, consumer banking services, which include services that are covered under MiFID II Directive (2014/65/EU), such as the reception and transmission of orders, execution of orders, portfolio management, and investment advice.

Key Obligations

  • Accessible Information: Documents that contain information such as financial documents, contracts, statements, policies, onboarding forms, must be perceivable through visual, auditory, and alternative formats and be compatible with assistive technologies.
  • Accessible Digital Services: Websites and mobile applications must be fully usable by persons with disabilities. This includes being of adequate font size, contrast, spacing, and provide support for alternative text and assistive technologies.
  • Accessible Support Services: Customer support must offer accessible communication modes and inform users about the compatibility with assistive technologies.
  • User-Friendly Security Features: Authentication and identification procedures must be operable and understandable. Complexity should not exceed B2 level of the Council of Europe’s Common European Framework of Reference for Languages.

Exemptions

  • Microenterprises (fewer than 10 employees and turnover or balance sheet under €2 million).
  • Obligations may be waived if they impose disproportionate burden or fundamentally change the service provided.

Transitional Period

  • Existing contracts and/or services (offered before 28 June 2025) to continue until 28 June 2030.
  • New services introduced after 28 June 2025 must comply immediately.

Penalties

  • Administrative Fines: up to €10,000 initially; up to €20,000 for repeated offences.
  • Criminal penalties: up to 2 years’ imprisonment or a €20,000 fine; up to 3 years’ imprisonment or a €30,000 for repeated offences.

For more information please contact Christos Chiotis (christos.chiotis@demetriades.com) or your usual contact at Chrysses Demetriades & Co LLC.



Foreign Direct Investments (FDI) screening and approval requirement coming to Cyprus

The Council of Ministers will be finally introducing the much talked about Foreign Direct Investments (“FDI”) Bill to Parliament for approval, aiming to screen foreign investments that may pose risks to national security or public order in compliance with EU Legislation.

Scope of the new mechanism

The proposed law applies to foreign direct investments in enterprises operating in strategic sectors, such as:

  • Energy
  • Transport and communications
  • Health and biotechnology
  • Defence and national security
  • Financial services
  • Digital infrastructure and dual-use technologies

When does an Obligation to notify arise?

A notification obligation will arise when a Foreign Investor acquires at least 25% of the share capital of a strategic enterprise, or increases an existing shareholding to or beyond 50%.

Who is considered a Foreign Investor?

The definition of “foreign investor” includes both:

  • Natural or legal persons based outside the EU/EEA/Switzerland, and
  • EU-based entities that are 25% or more owned or controlled by third-country investors.

This ensures that indirect or structured investments via EU jurisdictions remain within the scope of the law, closing potential loopholes.

Review process and oversight

The Ministry of Finance will serve as the competent authority, responsible for receiving notifications and conducting risk assessments. It will have the legal authority to:

  • Approve the investment;
  • Prohibit it, if risks are identified; or
  • Unwind a completed transaction in exceptional cases.

Limited exemptions

The mechanism includes certain exemptions to avoid undue interference in routine transactions. Notably, it excludes investment in vessels under construction or subject to sale, except for floating storage and regasification units (FSRUs), which are classified as critical to national energy infrastructure and remain subject to review.

Strategic and legal implications

This development is not a move toward protectionism but a measured step to enhance resilience and ensure Cyprus remains aligned with the EU’s evolving approach to foreign investment governance, in accordance with EU legislation.

What businesses should do

Foreign investors and companies engaged in M&A or strategic partnerships in Cyprus should take early steps to evaluate whether their transactions may fall within the scope of the screening mechanism. This includes reviewing ownership structures, transaction thresholds, and industry classification.

Advance planning is especially important, as transactions cannot proceed without clearance once the law is in force. Timing, documentation, and regulatory coordination will be key factors for successful execution.

How we can assist

At Chrysses Demetriades & Co LLC, we assist clients in navigating complex investment regulations and regulatory approvals. Our team advises on:

  • Transaction structuring to ensure compliance;
  • Preparation and submission of screening notifications;
  • Liaison with the Ministry of Finance and other relevant authorities;
  • Strategic risk assessments for multi-jurisdictional investments.

If you are considering an investment in Cyprus that may be affected by the new screening rules, or if you are unsure whether notification is required, our team is ready to assist with practical, business-focused legal guidance.

For further information, please contact Demosthenes Mavrellis at demosthenes.mavrellis@demetriades.com


New legal framework on Workplace Violence and Harassment in Cyprus


On 11 April 2025, Cyprus enacted Law 42(I)/2025, officially titled The Prevention and Combating of Violence and Harassment in the Workplace Law of 2025. This legislation marks a significant step in safeguarding individuals from violence and harassment in professional settings, while introducing clear obligations and liabilities for employers and employees alike.

The Law is designed to prevent and address acts of violence and harassment in the workplace, protect individuals who report or witness such incidents and ensure confidentiality in handling cases. It also acknowledges the broader impact of domestic violence, requiring employers to support affected employees where reasonably feasible. The scope of the Law extends to employees, employers, and third parties with professional ties to a workplace. It applies to conduct taking place not only at traditional work premises but also in any setting or context linked to professional duties — including work-related travel, training, social events, or even digital communication.

Crucially, both violence and harassment are now classified as criminal offences. “Violence” includes actions or behaviours — even single incidents — that can cause physical, psychological, sexual, or economic harm. “Harassment” refers to unwelcome behaviour that undermines a person’s dignity or creates a hostile work environment. Anyone found guilty of committing or inciting such acts may face up to three years in prison, fines up to €10,000, or both. Obstructing a complaint or retaliating against the complainant is also punishable by law.

Legal persons (companies and other organisations) may also be held criminally liable for offences committed by individuals acting on their behalf or due to failures in supervision. Penalties for legal entities can reach up to €20,000, without affecting the liability of the individuals involved.

Employers have a central role in enforcing the Law. They must actively prevent workplace violence and harassment by adopting appropriate policies and procedures, ensuring complaints are handled fairly, confidentially, and without reprisal. Employers are required to draft a code of conduct, in consultation with employee representatives, clearly defining unacceptable behaviours and outlining complaint procedures. They must also designate trained personnel to handle such matters and ensure regular communication and training for staff.

Employees are protected against any adverse action — including dismissal or changes to working conditions — arising from the filing of a complaint or participation in related proceedings. These protections also apply to those who support or testify in such cases.

Complaints may be submitted to Labour Ministry inspectors or the Commissioner for Administration and the Protection of Human Rights (Ombudsman), who are tasked with enforcing the Law. All actions taken under the Law must comply with relevant data protection rules, particularly the GDPR.

Keywords: code of conduct, employee rights, employer obligations

For more information please speak with Thomas Christodoulou or your usual contact at Chrysses Demetriades & Co LLC.


Chrysses Demetriades & Co LLC joins the Cyprus International Business Association

We are pleased to share that our firm has recently joined the Cyprus International Business Association (CIBA), an organization that plays a significant role in representing and supporting the interests of international businesses operating in Cyprus.


Through this membership, we aim to contribute to CIBA’s ongoing efforts to promote a stable and business-friendly environment, while also remaining closely engaged with developments that affect the broader international business landscape.

This step reflects our continued commitment to maintaining strong ties within the professional community and to supporting initiatives that encourage sustainable growth and collaboration.

New Law enhances regulation of Fund Administrators in Cyprus

On 29 May 2025, the House of Representatives passed the Investment Funds Administrators Law, L.101(I)/2025, marking a pivotal advancement in Cyprus’s financial regulatory regime. Published in the Official Gazette on 18 June 2025, the Law introduces a standalone legal framework for the regulation and supervision of fund administrators—a sector previously operating under the broader umbrella of fund manager legislation.

This legislative development establishes a distinct regime tailored to the operations of fund administration companies, bringing Cyprus into closer alignment with leading EU and global jurisdictions. For the first time, investment fund administrators are subject to direct licensing and supervision by the Cyprus Securities and Exchange Commission (CySEC), ensuring a higher level of regulatory consistency and oversight.

Under the Law, fund administrators are required to maintain minimum capital reserves—€50,000, or €125,000 where additional services are provided—carry professional indemnity insurance, and operate from a registered and central office located in Cyprus. Governance standards are enhanced through obligations relating to board structure, internal controls, and risk management. In addition, the Law imposes robust compliance, reporting, and anti-money laundering obligations, reflecting a clear commitment to operational integrity and investor protection.

The scope of permitted activities includes core administrative services such as maintaining investor registers, calculating net asset values, and processing investor transactions for both UCITS and Alternative Investment Funds. While these functions were previously referenced under existing legislation and EU directives, they are now unified within a coherent and purpose-built legal structure.

Investor confidence is further safeguarded through provisions addressing conflicts of interest, mandatory disclosure requirements, and reinforced governance mechanisms. CySEC is granted broad enforcement powers to ensure adherence, including the imposition of sanctions where necessary.

The enactment of this Law significantly enhances the regulatory clarity and professionalism of Cyprus’s fund services sector. By setting a defined operational and supervisory framework, the Law strengthens the jurisdiction’s credibility and appeal to international asset managers seeking a stable and transparent European base. It represents a strategic step forward in Cyprus’s ongoing effort to modernise its financial services landscape and support sustainable growth in the investment funds industry.

For more information, please contact Demosthenes Mavrellis (demosthenes.mavrellis@demetriades.com) or your usual contact at Chrysses Demetriades & Co LLC.



Environmental litigation in Cyprus: A new Constitutional Era

Cyprus has entered a pivotal phase in environmental protection with the adoption of the Nineteenth Amendment to its Constitution in 2024. This landmark reform explicitly enshrines the right to a safe and sustainable environment, shifting from implied constitutional protections to a direct legal mandate.


In an article published in the e-newspaper of the Great Britain – Cyprus Business Association (GB-CY), our partner Katia Kakoulli explores how the amendment enhances access to justice, broadens legal standing, and imposes clearer obligations on the state, fundamentally reshaping environmental litigation in Cyprus. The piece also examines the historical legal context and the practical implications for individuals, businesses, and advocacy groups navigating this strengthened legal landscape.

Read the full article here: 

https://www.gbcy.business/_files/ugd/54fdf4_3ac1e447d5dd469fa8de863a34110a94.pdf

For more information please speak with Katia Kakoulli or your usual contact at Chrysses Demetriades & Co LLC.


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