Cyprus

As of 3 February 2026, the new national eProcurement System is in operation in Cyprus, under the responsibility of the General Accounting Office of the Republic. The system forms part of the ongoing reform of the public procurement framework and replaces the previous electronic procurement platform. The new system provides an integrated digital environment covering the full procurement cycle, including procurement planning, tender procedures, contract award, and contract management. It introduces, among other functionalities, a Contract Management module enabling structured monitoring of contract performance, milestones, and payments, as well as an electronic repository (eAttestations) for the submission and management of certificates and declarations relating to selection and exclusion criteria. Additional features include annual procurement planning, enhanced internal communication and clarification mechanisms, and data analysis and reporting tools supporting oversight and compliance. Existing functionalities, such as electronic catalogues, search tools, and the user interface, have also been updated. Economic operators and contracting authorities should take note of the procedural and compliance implications arising from the use of the new system, particularly in relation to documentation, deadlines, and contract administration. Access to the platform is available at www.eprocurement.gov.cy. For more information please contact Katia Kakoulli ([email protected]) or your usual contact at Chrysses Demetriades & Co LLC.

The European Union Intellectual Property Office (EUIPO) launched the SME Fund 2026, a grant scheme for small and medium-sized enterprises, on 2 February 2026 with a total budget of €60 million. The initiative is designed to reduce the cost of obtaining intellectual property (IP) protection for SMEs established in the European Union. It continues a programme first introduced in 2021 and reflects the EU’s broader objective of facilitating access to formal IP rights for smaller businesses. The fund operates through a voucher-based reimbursement system covering a range of IP-related activities. Eligible SMEs may obtain partial reimbursement for trademark and design applications at EU, national and regional level, as well as for patent-related costs and plant variety protection. The scheme also includes support for IP Scan services, which provide a structured assessment of a company’s intangible assets and IP strategy. Reimbursement rates vary by category but can reach up to 75% for most registration fees and up to 90% for IP Scan services, subject to defined financial caps. Eligibility is limited to SMEs as defined under EU law, based on staff headcount, turnover and balance sheet thresholds, and applicants must be established in the European Union and engaged in economic activity. Self-employed individuals and certain foundations may also qualify, provided they meet the applicable criteria. The fund does not apply retroactively, and costs incurred before a voucher is granted are not eligible. Vouchers must be activated and used within specified time limits, failing which they expire. Previous editions of the SME Fund have been characterised by strong demand, with funding allocated on a first-come, first-served basis. A significant proportion of beneficiaries in earlier years accessed formal IP protection for the first time, particularly for trademarks and designs. Against this background, SMEs considering participation in the 2026 edition are expected to benefit from early preparation and timely submission of applications, especially for patent and plant variety vouchers, which have historically been exhausted rapidly.

After many years of negotiations, the European Union and India have recently reached a preliminary free trade agreement aimed at facilitating trade flows, reducing tariffs, and simplifying customs procedures. The agreement covers markets that together represent around two billion consumers and encompasses goods, services, sustainability, and digital trade, with gradual implementation over an extended period. For European businesses, the agreement provides for the immediate or phased reduction and elimination of tariffs on a large share of exports to India, particularly industrial products such as machinery, chemicals, and pharmaceuticals. Special arrangements are introduced for the automotive sector, with a significant reduction of the currently high tariffs during a transitional period and the application of quotas. At the same time, access for European companies to selected services sectors is enhanced, while simplified customs rules and stronger protection of intellectual property rights are provided. From India’s perspective, the EU commits to abolishing tariffs on the vast majority of Indian products from the entry into force of the agreement, with further market opening at a later stage. The tariff reductions cover, among other things, products such as seafood, textiles, clothing, chemicals, base metals, and jewelry, while certain sensitive sectors, such as agriculture and automobiles, are excluded from full liberalization. For steel, specific duty-free quotas are foreseen, without special exemptions regarding the EU’s carbon pricing mechanisms. The agreement also includes provisions for opening services markets on both sides, as well as rules on digital trade, aimed at facilitating transactions and ensuring data protection and security. Commitments on labor standards, the environment, and sustainability are also included. The next steps involve the publication of the legal texts, technical and legal scrutiny, translations, and approval procedures by the EU institutions, the European Parliament, and India, with an expected timeline of around one year.

Elias Neocleous & Co LLC is proud to participate as a Silver Sponsor of the Cyprus EMEA Healthspan Summit 2026, a landmark regional forum dedicated to innovation in longevity, healthcare, biotechnology and the future of healthier living. The summit will take place on 27–28 April 2026 at the Parklane, a Luxury Collection Resort & Spa, Limassol, under the auspices of H.E. Nikos Christodoulides, President of the Republic of Cyprus. Our participation reflects the firm’s longstanding Corporate Social Responsibility commitment to supporting initiatives that promote innovation, scientific progress, and meaningful collaboration across disciplines. It also aligns with our broader view that the legal profession has an important role to play in helping societies and markets respond responsibly to transformational change. At the same time, as an organisation, we place particular importance on the well-being of our people, recognising that a healthy, supportive and balanced working environment is fundamental to professional excellence and long-term success. Held under the theme “Innovating Life: Shaping the Future of Longevity”, the summit marks the inaugural Cyprus edition of a platform connected with the St. Moritz Longevity Forum and is designed to bring together leading voices from science, biotechnology, investment and policymaking across the EMEA region and beyond. The programme highlights the growing importance of health span research, AI integration, investment infrastructure, ethical frameworks, and policy dialogue in shaping the future of longer, healthier lives. The official agenda makes clear that the summit is not only about scientific breakthroughs, but also about the wider frameworks needed to support innovation responsibly, including regulation, implementation, access, investment and governance. These are areas in which legal expertise is essential. As lawyers, we see first-hand how emerging sectors develop most sustainably when innovation is accompanied by clear legal structures, sound regulation, strong institutions, and respect for ethical standards. For that reason, our support for the Cyprus EMEA Health span Summit is especially meaningful. It reflects our belief that legal advisers should contribute not only to business activity, but also to the broader conditions that allow innovation-driven sectors to grow with confidence, integrity and long-term sustainability. In supporting this initiative, we are pleased to stand behind a forum that encourages dialogue between science, business, investment, and public policy at a particularly important moment for the region. Elias Neocleous & Co LLC remains committed to supporting forward-looking initiatives that strengthen Cyprus’s role as a centre for international business, innovation, and responsible growth. For more information about the summit, please visit the official event page or reach out to your usual contact at our firm.