The Latest Developments In The Cyprus Banking Sector

The EU's Markets in Crypto Assets Regulation (MiCA) transitional period expires on 1 July 2026, marking a critical deadline for crypto-asset service providers operating in Europe. Without proper MiCA authorisation by this date, businesses must cease operations and implement orderly wind-down procedures, as pending applications do not grant permission to continue providing services. This comprehensive analysis examines the regulatory requirements, compliance obligations, and strategic considerations for cryp

Directive (EU) 2024/1619, published in the EU Official Journal on 19 June 2024 is nearing its transposition deadline of 11 January 2026.

Adult industry businesses operating in Cyprus often find that legal permission alone does not ensure operational stability. Even when content creation, data protection...

Cyprus is evolving from a jurisdiction that simply attracts fintech licenses to one building genuine European fintech infrastructure. With new regulatory frameworks including PSD3, DORA, and MiCA converging, the country faces a critical question: can it develop the banking relationships, payment systems access, and institutional depth required to transform licensed entities into a truly interconnected financial ecosystem?

Launching a high-risk business in sectors like iGaming, crypto, fintech, or adult entertainment requires strategic corporate structuring from the outset. This comprehensive guide examines how jurisdiction selection, ownership transparency, payment flows, and compliance preparation directly impact licensing approval, banking access, and long-term operational stability in heavily scrutinized industries.

It was announced today that Cyprus is suspending the Cyprus Investment Programme in its current form. Suspension will take effect from the 1st of November 2020.

Operating an adult entertainment business in Cyprus may be legal, but securing banking and payment services presents significant operational hurdles. Financial institutions apply heightened scrutiny to these businesses despite full legal compliance, creating challenges that require strategic planning and transparent risk management to overcome.

ESMA's revised weekly commodity derivatives reporting arrangements went live on 3 September 2026, introducing updated technical requirements, validation rules and XML schema version 2.0. Businesses trading energy or other commodity derivatives must understand their specific reporting role, verify that correct information reaches the appropriate reporting party, and ensure their systems properly handle the new technical framework. Cyprus investment firms, energy traders and groups using commodity derivatives

The European Banking Authority (EBA) has published two significant sets of Guidelines on internal policies, procedures, and controls for the implementation of Union and national restrictive measures.

On 11 June 2026, the Court of Justice of the European Union (the “Court”) delivered its judgment in Case C-81/24, Jenec. The case concerned the relationship between the right of access to a payment account with basic features under Directive 2014/92/EU (the “Payment Accounts Directive”) and the AML/CFT obligations imposed on financial institutions under Directive (EU) 2015/849 (the “AML Directive”).

The Cypriot tax landscape has undergone a significant recalibration following the entry into force of a broad package of fiscal reforms, effective as from the 1st of January, 2026.

On 3 September 2026, the Court of Justice of the European Union (the "CJEU") delivered its judgment in Case C-798/24, Jautiva (the "Judgment"), addressing the compatibility of unrestricted public access to shareholder information with European Union ("EU") company law and data protection rules.

In January 2026, the European Commission unveiled its plan to overhaul the EU's Cybersecurity Act, a proposal now known as CSA2. It's the natural next step in a story that began years earlier with the EU's 2020 "5G Security Toolbox" - a set of voluntary recommendations encouraging Member States to be cautious about certain telecom suppliers. That voluntary approach produced patchy results: by most accounts, fewer than half of EU countries had actually acted on those recommendations. It is worth asking whether the adoption levels were however a failure of design, or a reflection of Member States reaching different conclusions about their risk exposures.

The Department of the Registrar of Companies and Intellectual Property (DRCIP) has issued an updated notice on 16 September 2026 regarding the Beneficial Owners Register (BOR), setting out the annual confirmation requirements applicable for 2026.

Federal Law No. 142-FZ on Amendment of Articles 6 and 30 of the Federal Law on Russian Federation Citizenship and Individual Regulations of the Russian Federation

The Cyprus Deputy Ministry of Shipping has issued on 27 August 2025 new Circular 22/2025 in relation to the International Convention on Standards of Training, Certification and Watchkeeping for Seafarers, STCW 78, ...

The agreement covers all taxes on income and capital levied by either state or by any of its sub-divisions or local authorities, including taxes on capital appreciation and on gains from the alienation of movable or immovable property.

On the 25th of July, 2025, the Republic of Cyprus ("Cyprus") enacted Law 149(I)/2025, formally titled The Criminalization of the Violation of the Restrictive Measures of the European Union Law of 2025 (the "Law").

It is not uncommon for high-value commercial disputes to give rise to jurisdictional issues, particularly where they involve multiple defendants domiciled in different jurisdictions or where one or more parties have entered into agreements containing jurisdiction clauses. The reason is straightforward: if the Court determines that it lacks jurisdiction to hear the matter, the proceedings may effectively come to an end at the outset. Accordingly, the issue of jurisdiction must be determined by the Court as a preliminary matter and at the earliest stage of proceedings.

The taxation of capital gains derived by foreign legal entities from the sale of Russian shares or financial instruments has been clarified by Russian Federal Law No. 132-FZ.