licencemap
Informational only, not legal advice. Verify with qualified counsel before acting. Full disclaimer

🇨🇾 Cyprus

Established CIF/investment-services jurisdiction now converting its large national VASP base into MiCA CASP authorisations under a hard Feb 2026 deadline.

Crypto (CASP) E-Money (EMI)
Last verified 2026-07-03 Next review 2026-07-17

Data verified: oldest cell 1 day ago (verified 2026-07-02). Individual cells show their own verification date below.

Licence type

Electronic Money Institution (EMI) authorisation under The Electronic Money Laws of 2012-2018 and The Provision and Use of Payment Services and Access to Payment Systems Laws of 2018 to 2025 (transposing EMD2/PSD2); a Small EMI / exempt tier also exists under the same framework for issuers below EMD2 thresholds

Verified 2026-07-02 Source: Central Bank of Cyprus: https://www.centralbank.cy/en/licensing-supervision/electronic-money-institutions/licensing-and-supervision-of-electronic-money-institutions

Regulator

Central Bank of Cyprus (CBC) - Licensing Section

Verified 2026-07-02 Source: Central Bank of Cyprus: https://www.centralbank.cy/en/licensing-supervision/electronic-money-institutions

Capital requirement 🔒

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Timeline to authorisation 🔒

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Local substance 🔒

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Application cost 🔒

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Passporting 🔒

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EMIs authorised 🔒

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Key restrictions 🔒

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Safeguarding 🔒

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Recent changes

CBC issued three new directives effective 2025: the Electronic Money Institutions Directive 2025 (authorisation/prudential supervision), a Directive on Internal Organisation and Governance of EMIs, and a Directive on Assessment of Suitability of board/management members, materially tightening governance and fit-and-proper requirements ahead of PSD3/PSR. EU political agreement on PSD3/PSR was reached Nov 2025, texts published April 2026; EMD2 will be repealed and EMIs folded into the payment institution framework as a sub-category, with existing EMD2 licences remaining valid for up to 24 months post-entry-into-force (extendable to 30 months at national regulator discretion).

Verified 2026-07-03 Source: Harneys: https://www.harneys.com/our-blogs/regulatory/the-central-bank-of-cyprus-introduces-new-directives-for-emis-and-psps/ ; Norton Rose Fulbright: https://www.nortonrosefulbright.com/en/knowledge/publications/cedd39c6/psd3-and-psr-from-provisional-agreement-to-2026-readiness

Difficulty rating 🔒

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Informational only, not legal advice. Entries marked as placeholder or awaiting verification must not be relied on. Confirm all requirements with Cyprus's regulator and qualified local counsel before acting.