News & Insights

Cyprus Central Bank introduces new Licensing Process for Electronic Money and Payment Institutions

The Central Bank of Cyprus (CBC) has introduced a revised licensing process for Electronic Money Institutions (EMIs) and Payment Institutions (PIs), effective from 3 August 2026. The principal change is the introduction of a mandatory pre-application exploratory stage before a formal licensing application can be…

Cyprus online Residence Permit Renewal Service for Third-Country Nationals

Cyprus introduced a new online service for renewing certain residence permits of third-country nationals. The initiative forms part of the Government’s broader digitalisation of immigration and public administration services. The platform allows eligible applicants, employers and authorised representatives to handle significant parts of the renewal…

Important Administrative Court judgment regarding the tax treatment of impaired bank deposits

A recent Administrative Court judgment concerning the tax treatment of losses arising from the impairment of bank deposits following the 2013 banking crisis represents an important development in Cyprus tax law. Having successfully acted for our client in the proceedings, our partner Katia Kakouli examines…

Cyprus Shipping Companies and NIS 2: A Legal Framework Overview

Cyprus is among the most significant ship-owning and ship-management centres in Europe and consistently ranks as one of the largest flag administrations globally. The entry into force of Directive (EU) 2022/2555 (the “NIS 2 Directive”) and its transposition into Cypriot law through the Security of…

Foreign Direct Investment Screening Regime – Update on commencement of operation and the Ministry’s Guidance on scope of application and procedural aspects in Cyprus

Recent developments continue to shape the implementation of the Republic of Cyprus’ foreign direct investment screening framework under the Establishment of a Framework for the Foreign Direct Investment Screening Law of 2025 (Law 194(I)/2025). Following a joint announcement by the Ministry of Finance of Cyprus…