🇨🇾 Cyprus
Established CIF/investment-services jurisdiction now converting its large national VASP base into MiCA CASP authorisations under a hard Feb 2026 deadline.
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
Regulator
Central Bank of Cyprus (CBC) - Licensing Section
Capital requirement 🔒
Timeline to authorisation 🔒
Local substance 🔒
Application cost 🔒
Ongoing cost 🔒
Passporting 🔒
EMIs authorised 🔒
Key restrictions 🔒
Safeguarding 🔒
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 EU political agreement on PSD3/PSR was reached Nov 2025, texts published April 2026; EMD2 will be repealed and EMIs folded into the payment institution framework as a sub-category, with existing EMD2 licences remaining valid for up to 24 months post-entry-into-force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).
Difficulty rating 🔒
Track Cyprus
Get an email when this regime changes, fee schedules, capital rules, transition deadlines.
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.