Our Customers
Compliance Advisory Model
Compliance with Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) regulations is crucial for financial institutions and entities regulated by the Central Bank of Cyprus (CBC), the Cyprus Securities and Exchange Commission (CySEC), the Institute of Certified Public Accountants of Cyprus (ICPAC) and the Cyprus Bar Association (CBA).
By partnering with compliance experts, companies can reduce costs, enhance value, and manage risk effectively, ensuring alignment with overall organizational strategies. AML compliance is not only a legal requirement but also a vital component in maintaining the integrity and security of the financial system in Cyprus and in any country. Furthermore, regulated entities play a pivotal role in preventing illicit financial activities and protecting both themselves and their clients.
Compliance services play a crucial role in helping businesses navigate the intricate landscape of rules and regulations. Organizations may require assistance in conforming to industry-specific laws, legal requirements and evolving standards. As companies face challenges like rapid globalization and heightened demands for transparency, compliance services step in to guide them.
Who is your Regulator in Cyprus?
CBC
Central Bank of Cyprus
CySEC
Cyprus Securities and Exchange Commission
ICPAC
Institute of Certified Public Accountants of Cyprus
CBA
Cyprus Bar Association
Are you an Obliged Entity, as per the AML Law?
These entities act as gatekeepers, helping prevent illicit financial activities and safeguarding the integrity of the financial system and economy.
Financial Institutions
Banks, credit unions, insurance companies, and investment firms
Real Estate Agencies
Involved in property transactions
Asset Management Services
Handling investment portfolios
Casinos
Monitoring large cash transactions
Merchants
Especially those dealing with high-value goods or services
Sustainability Solutions
Are you obliged to have an ESG Report? When are you obliged to report under ESG reporting?
What is the 7 Step ESG Reporting Process?
What is the 2030 Agenda for Sustainable Development?
Following the adoption of the EU's Stop-the-Clock Directive in 2025, the implementation of the Corporate Sustainability Reporting Directive (CSRD) has been delayed for many companies. The CSRD applies to large EU companies and certain non-EU companies with significant operations in the EU, although the final scope of the Directive is currently subject to ongoing legislative amendments under the EU's Omnibus simplification package.
Reporting in 2025 (for FY2024)
Companies subject to NFRD, including large public-interest entities with more than 500 employees.
Reporting in 2028 (for FY2027)
Large companies not subject to NFRD and meet at least two of the following criteria:
- More than 250 employees;
- More than €50 million in net turnover; or
- More than €25 million in total assets.
Reporting in 2029 (for FY2028)
Listed small and medium-sized enterprises (SMEs), small and non-complex credit institutions, and captive insurance and reinsurance undertakings (subject to applicable exemptions and opt-out provisions).
Reporting in 2029 (for FY2028) – Non-EU Companies
Non-EU companies generating more than €150 million in annual net turnover in the EU and having either:
- at least one large or listed EU subsidiary; or
- an EU branch generating more than €40 million in net turnover.
The NFRD applies to large public-interest entities, such as listed companies, banks, and insurance undertakings, with more than 500 employees. In addition, these entities typically meet financial thresholds such as:
- a balance sheet total exceeding €20 million; or
- net turnover exceeding €40 million.
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