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  • State Aid Ombudsman Budget Proposal for 2026 Sees Significant Increase

    State Aid Ombudsman Budget Proposal for 2026 Sees Significant Increase

    The budget proposal for the state aid ombudsman in 2026 has seen a significant increase, totalling €703,280, as announced by commissioner Stella Michaelidou during a session with the House Finance Committee on Monday.

    State aid: Budget Increase and Staffing Developments

    The budget has risen by €129,852 compared to previous allocations, a development welcomed by committee members. Notably, the office has recently expanded its workforce with the hiring of four permanent staff members, enhancing its operational capacity.

    Concerns Over Rising Accommodation Costs

    Despite the positive staffing news, there are concerns regarding a 42 per cent increase in accommodation costs for the office. Diko MP Christiana Erotokritou, chair of the committee, questioned the necessity of this rise in rental expenses. Michaelidou clarified that the office currently operates from an apartment and that the new premises were selected through a transparent process involving the public works department and finance ministry. The rental increase is set at €63,000, as assessed by the land registry.

    Long-Term Stability and Future Planning

    The commissioner assured the committee that the new location meets the approved organisational requirements, which should prevent the need for further relocations in the near future. Following the addition of four permanent hires, the office aims to operate exclusively with permanent staff moving forward. Any secondments that conclude in 2026 will be evaluated individually, with renewals being considered based on the office’s operational needs at that time.

    Strengthening EU Relations and Upcoming Events

    Additional budget increases are attributed to the office’s participation in European Union competition groups. Michaelidou highlighted the office’s recognition from the EU for maintaining the state aid register. In a significant upcoming event, the office will host the state aid working group in Cyprus for EU member states in June 2026.

    Guiding Principles of the Office

    Michaelidou emphasised the importance of the office’s role in advising on the allocation of public resources, adhering to EU state aid principles such as transparency, proportionality, necessity, and appropriateness. This guidance is critical for ensuring that aid is distributed effectively and fairly.

    Political Support and Broader Implications

    Support for the office’s work was voiced by Disy MP Harris Georgiades, who pointed out that EU competition policy is among the most advanced in Europe, underscoring the vital role of the commissioner. Meanwhile, Green Party MP Stavros Papadouris raised inquiries regarding outcomes from a recent Copenhagen conference focused on affordable housing. In response, Michaelidou indicated that the office is contemplating whether housing could be classified under services of general economic interest, which would enable EU member states to better serve their citizens.

  • Rain thunderstorms: Rain and Thunderstorms Forecasted to Sweep Across Cyprus This Week

    Rain thunderstorms: Rain and Thunderstorms Forecasted to Sweep Across Cyprus This Week

    rain thunderstorms — rain thunderstorms — Rain and thunderstorms are set to sweep Cyprus from mid-week, bringing a much-needed shift in the weather pattern across the island. According to independent forecaster Kitasweather, scattered showers and thunderstorms are expected, with temperatures gradually dropping to around normal seasonal levels by the end of the week.

    Rain thunderstorms: Weather Transition Begins on Tuesday

    On Tuesday, the weather will start partly cloudy, with high and medium cloud cover throughout the day. As the day progresses, increased cloud cover will develop, particularly in eastern and south-eastern parts of the island. Isolated showers and a chance of thunderstorms are anticipated, with rain probabilities varying between 0-30% depending on the location. Daytime temperatures will hover around 26°C in Nicosia, 25-28°C along the coast, and around 14°C in the Troodos mountains (1,900 metres).

    Midweek Showers and Thunderstorms on Wednesday

    Wednesday is expected to see a continuation of the unsettled weather. Cloud cover will increase in most areas, especially in the western and south-western parts of Cyprus, leading to isolated showers or thunderstorms. During the day, particularly in the mountainous regions and the Troodos range, localised thunderstorms may develop, with some storms potentially severe, bringing hail and gusty winds. Rain probability for the daytime ranges from 20-60%, while the evening hours may see probabilities of 25-50%. Temperatures will remain steady, around 26°C in Nicosia, 24-27°C along the coast, and approximately 12°C in Troodos.

    Continued Instability Expected on Thursday

    Thursday will mirror the previous day’s weather, starting off partly cloudy with localised cloud cover increasing, particularly along the coast. This will likely lead to isolated showers and thunderstorms, especially in the northern half of the island. As the day progresses, strong thunderstorms may develop, again accompanied by hail and gusty winds. Rain probabilities during the day will range from 30-60%, with evening probabilities climbing to between 40-60%. Temperatures will slightly decrease, settling at around 25°C in Nicosia, 23-26°C along the coast, and about 9°C in the Troodos region.

    Unsettled Conditions Continue on Friday

    As the week draws to a close, Friday’s weather will remain unsettled, with scattered showers and thunderstorms expected across the island. Some of these thunderstorms may again be strong and bring hail and gusty winds. The likelihood of rain will range from 50-70% depending on location. Temperatures will drop further, reaching around 23°C in Nicosia, 22-23°C along the coast, and approximately 8°C in Troodos.

    Weekend Weather Outlook

    Looking ahead to the weekend, Saturday is forecasted to remain unsettled with scattered showers and thunderstorms continuing. However, by Sunday, the weather is expected to ease considerably, with only a chance of isolated showers mainly during the afternoon. Saturday’s temperatures will dip slightly, settling below normal levels, while Sunday sees a slight rebound to around normal seasonal temperatures.

    Uncertainty and Recommendations for Residents

    There remains uncertainty regarding the exact path of the disturbance in the coming days, with significant changes in rain probabilities likely. Residents are advised to check forecasts at regular intervals for updates on expected rainfall and thunderstorms.

    As for the first half of next week, current data suggests a decrease in rain chances, with temperatures gradually rising back above normal levels. This week’s weather shift could provide a welcome change, particularly as Cyprus has been experiencing higher than usual temperatures in recent weeks.

    This anticipated weather change comes as the island faces challenges from climate-related issues, with organisations like the World Health Organisation (WHO) highlighting concerns about record deaths and economic losses tied to climate change in Cyprus. The upcoming rain could help mitigate some of these effects, at least temporarily.

  • Pharmacies — Pharmacies Open Across Cyprus on Monday 10 November 2025

    Pharmacies — Pharmacies Open Across Cyprus on Monday 10 November 2025

    Pharmacies on duty across Cyprus on Monday 10 November 2025 will provide essential services to residents in need of medication and healthcare advice.

    Pharmacies in Nicosia

    • Andreas Chagoudes
      244C Strovolou Avenue, opposite former Sun Tower, Strovolos
      Contact: 22049296, 96118353
    • Antonis Chatziapostolou
      37A Kyriakou Matsi Avenue, near Junior English School, Nicosia
      Contact: 22311416, 99513314
    • Lito Matsa
      64 Agiou Andrea, opposite the post office and ZORBA, next to Amsterdam kiosk, Pallouriotissa
      Contact: 22260566
    • Christiana Kari
      50 Andrea Avraamidi, opposite Areteio Hospital, Strovolos
      Contact: 22771999, 22351072
    • Xenios Xenofontos
      15 Theodosi Pieridi, 50m opposite ZORBA bakery, Tseri
      Contact: 22721451, 99556039
    • Ioannis Ragavas
      115 Archbishop Makarios III Avenue, 100m from Latsia’s Second Primary School, opposite Casa Di Fiori flower shop, Latsia
      Contact: 22486488, 22492717

    Pharmacies in Limassol

    • Maro Papaspyrou-Kantonidou
      272 Franklin Roosevelt, Zakaki, next to Sunfresh bakery, Limassol
      Contact: 25390354, 25388448
    • Charalambos Papadopoulos
      52 Theodorou Potamianou, Jumbo Polemidia, Kato Polemidia
      Contact: 25735505
    • Eleana Loukaidou-Petraki
      135 Makarios III Avenue, between Pizza Hut and ERA lights, Limassol
      Contact: 25730050, 25755516
    • Anagnostis Ketsibasis
      12 Renatou Kartesiou, 100m north of Mesa Geitonia roundabout, towards Agios Athanasios town hall, near bakery, Agios Athanasios
      Contact: 25326600, 99903900
    • Iakovina Papatheodoulou
      145 B&C Griva Digeni, Neapolis, opposite Alpha Mega supermarket, Limassol
      Contact: 25250026, 99748468

    Pharmacies in Larnaca

    • Margarita Christodoulou
      2 Armenian Church corner, near CYTA, town centre, Larnaca
      Contact: 24652440, 24644385
    • Kalliopi Konstantinou
      3 Solonos, Dromolaxia Square, Dromolaxia
      Contact: 24427906, 96237223
    • Eleni Symeou
      15 Rafael Santi, opposite Timios Stavros clinic, Larnaca
      Contact: 24254008, 99921940

    Pharmacies in Paphos

    • Aristotelis Papoudas
      25 Alexandrou Ypsilanti, Dasoudi area, 300m below Lidl, Paphos
      Contact: 26811750, 26952138
    • Chrysanthi Stavrinou
      1 Vasileos Stasioikou, Polis Chrysochous
      Contact: 26654290, 99983021

    Pharmacies in Famagusta

    • Stelios Stylianou
      7A Sotiras, opposite Lito clinic, Paralimni
      Contact: 23812040, 23744313
    • Antonis Pishas
      71 Eleftherias, Thymonia bakery road Deryneia, Deryneia
      Contact: 23821380

    These pharmacies provide a critical service to their respective communities, ensuring that individuals can access necessary medications and support. Citizens are encouraged to contact their nearest pharmacy to confirm opening hours and availability of services.

  • National Guard Introduces Locally Developed Anti-Drone Systems in Cyprus

    anti-drone systems — The National Guard today unveiled two innovative, locally produced anti-drone systems, known as “THISEAS” and “Drone Eye,” during a presentation at the Stavros Stylianides Camp in Kornos, Larnaca. This unveiling marks a significant advancement in Cyprus’s defence capabilities, showcasing homegrown technology designed to enhance national security.

    Photo: in-cyprus.philenews.com

    • Importantly, the THISEAS system can simultaneously detect over 2,000 targets and has already been successfully tested by four different armies, with three countries having purchased it.

    Defence Minister Vasilis Palmas highlighted the importance of these developments, stating that the completion of the “ATHENA” action plan demonstrates how domestic scientific research, innovation, and technological growth can act as a force multiplier and deterrent power for the nation.

    Photo: in-cyprus.philenews.com

    Anti-drone systems: THISEAS: Enhancing Battlefield Awareness

    The THISEAS project took 28 months to develop and was a collaborative effort involving Cypriot companies Signal Generix and 8Bells, along with the CYENS and KIOS Centres of Excellence. With a budget of €530,000, of which €450,000 was funded by the Ministry of Defence (MoD), this integrated system provides crucial solutions for battlefield situation awareness.

    THISEAS excels in radio emission detection, target identification, and geo-location estimation, all aimed at supporting rapid decision-making in military operations. The system features a virtual reality combat visualisation component powered by advanced artificial intelligence (AI).

    Data from multiple sources—including cameras, radar, UAVs (drones), and sensors—streams into a central processor. AI algorithms, encompassing Computer Vision, Machine Learning, and Deep Learning, are employed to recognise and classify targets such as vehicles, people, and drones. This capability allows THISEAS to detect unusual activity and calculate trajectories, issuing automatic warnings for suspicious movements and effectively reducing reaction time.

    Importantly, the THISEAS system can simultaneously detect over 2,000 targets and has already been successfully tested by four different armies, with three countries having purchased it.

    Drone Eye: A Vehicle-Mounted Anti-Drone Solution

    The second system introduced, Drone Eye, is a robust vehicle-mounted anti-drone solution, fully developed within Cyprus. This project took 42 months and was created through collaboration between the Cypriot company Encorp, Frederick University, and the Open University of Cyprus. It shares a budget of €530,000 with THISEAS, receiving the same amount of MoD funding.

    Drone Eye focuses on the surveillance and neutralisation of small-range unmanned aerial vehicles. It employs a variety of sensors, including high-resolution and thermal cameras, radio frequency (RF) detectors, and radar, to continuously monitor and identify targets.

    AI algorithms play a pivotal role in analysing flight patterns, classifying targets, recognising unusual behaviours—such as drones approaching sensitive areas—and calculating probable trajectories. The system provides real-time alerts and prioritises incidents based on their risk level, integrating seamlessly into broader security and anti-air defence infrastructures.

    During the demonstration attended by Minister Palmas, members of the Parliamentary Defence Committee, and MoD Director General Erikos Elias, the capabilities of these systems were showcased for the first time to the public, reflecting Cyprus’s commitment to enhancing its defence industry through innovation.

  • Heron — Forestry Department Rescues Trapped Heron in Athalassa Park

    Heron — Forestry Department Rescues Trapped Heron in Athalassa Park

    The Forestry Department successfully rescued a heron that became trapped high in a eucalyptus tree in the South Lake area of Athalassa National Forest Park on Saturday, 8 November 2025.

    • The Forestry Department successfully rescued a heron that became trapped high in a eucalyptus tree in the South Lake area of Athalassa National Forest Park on Saturday, 8 November 2025.

    Birdwatchers in the park noticed the heron struggling with its legs ensnared in threads or fishing lines, likely discarded carelessly by park visitors. Concerned for the bird’s welfare, they alerted the authorities.

    Responding promptly, Forestry Department officers arrived on the scene equipped with the necessary tools to assess the situation. After evaluating the circumstances, they determined that cutting down the dry eucalyptus tree was the safest option to rescue the heron without further endangering it.

    The operation was carried out efficiently, and the heron was freed from its precarious position. Fortunately, there were no physical injuries, but the bird exhibited signs of exhaustion and dehydration due to its prolonged struggle.

    Immediately after the rescue, the heron received first aid on-site before being transported to the Game and Fauna Service Sanatorium. There, it will remain under care until it fully recovers, ensuring it is fit for release back into its natural habitat.

    As part of the recovery protocol, Veterinary Services will conduct blood analyses to ensure the heron’s health is restored. The community has expressed relief and gratitude towards the Forestry Department for their swift action in rescuing the bird, highlighting the importance of protecting wildlife in natural parks.

  • Drowned: Drowning Confirmed as Cause of Death for Young Man in Ayia Napa

    Drowned: Drowning Confirmed as Cause of Death for Young Man in Ayia Napa

    A young man found dead in the sea off Ayia Napa has been confirmed to have drowned, according to a post-mortem examination. The examination, conducted on Saturday morning, established drowning as the cause of death for the 24-year-old foreign national.

    • Authorities reported that the man was a resident of Ayia Napa, a popular tourist destination in Cyprus. The findings from the statutory post-mortem revealed that he had drowned while in the water.
    • Authorities are urging both residents and tourists to remain vigilant while engaging in water activities. This incident serves as a stark reminder of the importance of water safety and awareness.

    Authorities reported that the man was a resident of Ayia Napa, a popular tourist destination in Cyprus. The findings from the statutory post-mortem revealed that he had drowned while in the water.

    Police are now awaiting the results of laboratory tests to gather further information regarding the circumstances surrounding his tragic demise. The investigation is ongoing, as officials aim to piece together the events leading to his death.

    Eyewitnesses and locals have expressed their sorrow over the incident, highlighting the risks associated with swimming in unfamiliar waters. The coastal area near Ayia Napa is known for its beauty, but safety precautions are essential, especially for those not familiar with the local conditions.

    Authorities are urging both residents and tourists to remain vigilant while engaging in water activities. This incident serves as a stark reminder of the importance of water safety and awareness.

  • Exploring the Noospheric Resonator: Concentric Rings of Stones Near Limassol Beach

    Exploring the Noospheric Resonator: Concentric Rings of Stones Near Limassol Beach

    Concentric rings: A Unique Land Art Installation

    concentric rings — The concentric rings of stones known as the Noospheric Resonator are a remarkable land art installation located between Limassol and Paphos, overlooking Avdimou Beach. Created by artist Pavel Muntyan, this site consists of three vast spiral labyrinths designed for reflection and reconnection with oneself amidst nature.

    Photo: cyprus-mail.com

    A Vision of Meaningfulness

    Muntyan’s inspiration for the Noospheric Resonator stems from a deep desire to establish something meaningful for the island that he now calls home. He articulates, “I wanted to build a place where people could come to meditate, take photos or simply be alone with themselves. It’s a non-commercial project and will remain that way, our gift to the island for its love, warmth, kindness, and openness.”

    Photo: cyprus-mail.com

    Grounded in Local Energy

    The installation is situated on a serene slope, on land generously lent to Muntyan by local resident Antonis. Muntyan describes this location as having a unique energy, a harmonious blend of wind, sun, and sea with a view of the Troodos mountains, making it an ideal spot for meditation and contemplation.

    Symbolism at the Heart of the Resonator

    The name Noospheric Resonator is derived from the term ‘noosphere’, which refers to the sphere of human consciousness. Muntyan perceives it as “the layer of ideas and consciousness that unites us all—the highest stage in the Earth’s evolution, when intellect becomes the main creative force.” He aims to manifest this connection physically through his artwork, creating a place that attracts kindness and rationality.

    Labyrinths as a Means of Reflection

    The labyrinths within the installation are infused with rich symbolism. Muntyan states, “Stone is the most ancient material, a symbol of stability and eternity. Spirals represent movement, evolution, and infinity. I wanted to unite these two forces, the eternal and the living.” At the core of the site is the Labyrinth of Knowledge, featuring 12 circles and 290 steps, a number symbolically aligned with the days of human gestation. For Muntyan, walking through this labyrinth serves as a metaphorical rebirth.

    Balancing Energies

    Flanking the Labyrinth of Knowledge are two smaller labyrinths: the Masculine Labyrinth, constructed from blue stones, and the Feminine Labyrinth, crafted from red stones. These formations invite visitors to restore balance within themselves. Muntyan notes that these planetary labyrinths, with their nine circles each, are ancient symbols found across various cultures from the Solovetsky Islands to the Mediterranean.

    The Money Square

    The layout culminates in a section called the Money Square, designed to channel “the energy of prosperity.” This space is adorned with intricate mosaics and bronze fish, all crafted by Muntyan himself.

    A Decade of Creation

    The Noospheric Resonator has been a decade in the making and remains a work in progress, continually evolving. Muntyan reflects on the early days of construction, stating, “At first, I worked there with my mother.” The project is entirely non-commercial, with each element created by hand and imbued with passion.

    Natural Design Process

    There is no rigid master plan for the installation. Muntyan explains, “Everything is born spontaneously, shaped by the climate, available materials, and sometimes coincidence.” An example of this spontaneity is the arrival of megaliths, large stones gifted by a friend who owned a nearby quarry.

    Commitment to Local Materials

    In keeping with the installation’s ethos, Muntyan emphasises the use of local stone while ensuring that the natural landscape remains undisturbed. “Everything is done by hand and from the heart,” he asserts. Typically, construction occurs on Tuesday mornings when the area is quiet, allowing the team to work without interruption. “By Wednesday, people already notice the changes we’ve made,” he adds.

    The Intersection of Art and Meditation

    For Muntyan, the act of creation serves as a form of meditation. He shares, “When you create something, especially in physical space, you enter a state of total concentration and presence. Art and meditation are the same act, just expressed through different means.”

    A Personal Experience for Visitors

    Visitors to the Noospheric Resonator are encouraged to engage with the labyrinths in their own way. Muntyan notes, “Visitors come for different reasons; some read tarot, others dance, and some simply sit and listen to the wind.” The only guidelines are to leave no litter and avoid causing damage. Ultimately, Muntyan believes the experience is about finding inner silence, rather than adhering to ritual.

    Lessons from the Resonator

    Reflecting on his journey, Muntyan describes the Resonator as more than just an artwork; it has been a teacher. “It taught me patience, gratitude, and humility,” he says, adding that it has deepened his love for Cyprus in a way that words cannot fully express.

  • Three Women Arrested in Limassol Following Death of Nigerian National

    Three Women Arrested in Limassol Following Death of Nigerian National

    Limassol police have arrested three women in connection with the tragic death of Nigerian national Victory Osarumen Thompson, a 30-year-old found dead in her flat.

    • Limassol police have arrested three women in connection with the tragic death of Nigerian national Victory Osarumen Thompson, a 30-year-old found dead in her flat.
    • During questioning, the arrested individuals provided various statements. The police are currently evaluating these claims as part of their ongoing investigations.

    This morning, authorities were alerted to a deceased individual located in a multi-storey building in Limassol around 10:30 AM. Upon arrival, members of Limassol’s Criminal Investigation Department (CID) discovered Ms Thompson’s body, prompting an immediate investigation.

    Pathologists Angeliki Papetta and Orthodoxos Orthodoxou were summoned to conduct an on-site examination. Preliminary findings indicated that Ms Thompson had sustained injuries across multiple areas of her body, raising serious concerns about the circumstances surrounding her death.

    As the investigation unfolded, police gathered testimonies and evidence that led to the arrest of two women aged 24 and one aged 35. All three women share the same nationality as the victim, heightening the urgency of the inquiry.

    During questioning, the arrested individuals provided various statements. The police are currently evaluating these claims as part of their ongoing investigations.

    A post-mortem examination is scheduled for tomorrow morning, which is expected to yield further insights into the cause of Ms Thompson’s death. Meanwhile, Limassol CID continues its thorough examinations to uncover the truth behind this incident.

  • Horse rescue — Horse rescue: Cypriot Rescue Team Saves Horse Trapped in Drain

    Horse rescue — Horse rescue: Cypriot Rescue Team Saves Horse Trapped in Drain

    horse rescue — A rescue operation unfolded on Sunday afternoon in Alethriko when a horse found itself trapped in a drain, prompting the Emergency Response Unit (EMAK) to spring into action.

    • horse rescue — A rescue operation unfolded on Sunday afternoon in Alethriko when a horse found itself trapped in a drain, prompting the Emergency Response Unit (EMAK) to spring into action.
    • This episode serves as a reminder of the unpredictable nature of animal encounters and the importance of prompt action in emergencies.

    According to the Fire Service, the call came in at approximately 15:00, leading unit members to the village located in the Larnaca District. Upon arrival, they discovered that part of the horse’s body was stuck, necessitating the use of specialised rescue equipment to free it.

    Details surrounding how the animal ended up in such a predicament remain unclear. Authorities are investigating whether the horse may have been moving at excessive speed or if there were other contributing factors.

    The incident is particularly notable in light of existing Cypriot laws, which include fines for riding at excessive speed, adding an ironic twist to the situation. The community, while relieved at the successful rescue, is left pondering how such an event could occur in the first place.

    Local residents expressed their gratitude towards the EMAK team for their swift response and expertise during the unusual operation. Witnesses observed the rescue efforts, highlighting the dedication of the responders who worked meticulously to ensure the horse’s safety.

    This episode serves as a reminder of the unpredictable nature of animal encounters and the importance of prompt action in emergencies.

  • Cyprus Embraces Family Offices to Diversify Its Economy

    Cyprus Embraces Family Offices to Diversify Its Economy

    Cyprus is opening a new chapter in the diversification of its economy with the attraction and upcoming legislative regulation of Family Offices, or more accurately in Greek: Offices for the Management of Family Wealth.

    Recently, a significant event took place in Limassol, gathering key players from the financial, regulatory, and private wealth management sectors. This meeting aimed to explore the future of Family Offices in Cyprus and outline the potential benefits for the country.

    Mr. Theodoros Parperi, the event organiser and President of Family Office Connect Cyprus (FOC), emphasised the platform’s role in promoting dialogue and innovation within the family office ecosystem. Established in 2025, FOC aims to position Cyprus as a leading jurisdiction for Family Office services.

    Family Offices, as described by Mr. Parperi, are specialised entities that manage the wealth, investments, and personal affairs of affluent families. They offer a range of services including investment management, tax planning, legal support, philanthropic activities, and succession planning. There are two primary types: Single Family Offices (SFOs), which cater to one family, and Multi-Family Offices (MFOs), which serve multiple families.

    The process of establishing a Family Office involves strategic planning and legal guidance. Families must select the appropriate jurisdiction, define their structure (SFO or MFO), and engage with financial professionals such as lawyers and investment advisors.

    Unlike traditional investment funds, Family Offices are private structures that primarily serve the needs of individual families, allowing them to invest in various assets without the regulatory burdens faced by public funds. This setup offers advantages such as control, flexibility, and tailored investment strategies, which can enhance financing for economic development initiatives, including startups and existing businesses.

    Experts believe that Family Offices can significantly benefit the Cypriot economy by attracting foreign investment, creating high-quality jobs, and bolstering the professional services sector. They can also help elevate Cyprus’s reputation as a financial centre and provide long-term economic stability and diversification. Drawing from successful models in countries like Singapore, Family Offices can contribute to philanthropy, an area where Cypriot society stands to gain immensely.

    According to reports from Phileleftheros, several Family Offices are already operational in Cyprus, with both local and international families recognising the country’s tax stability and quality of professional services as key factors for their choice.

    However, the absence of a formal legal framework in Cyprus limits the comprehensive documentation of these entities and hinders sector development. Efforts are underway to establish a more structured environment for Family Offices.

    The establishment of Family Office Connect Cyprus (F.O.C.) marks a significant step towards this goal. The platform advocates for a robust institutional framework for Family Offices in Cyprus. Among its initial recommendations are the creation of a legal framework for SFOs, the introduction of Private Foundations for succession and philanthropy, and collaboration with regulatory bodies like the Cyprus Securities and Exchange Commission (CySEC) and the Ministry of Commerce.