Further to CYFA’s previous announcement (#9/2025), we would like to inform you that Law No. 69(I)/2025 has been published in the Official Gazette of the Republic of Cyprus (Issue No. 5039, dated 30 May 2025). The new law amends the existing legislative framework regulating entities providing administrative services and related matters from 2012 to 2020.
Key highlights relevant to our sector include:
- Introduction of the term “Representation Bodies of Licensed Persons”:
The law introduces a new definition recognizing legal entities—excluding supervisory authorities—that represent licensed persons. This formally acknowledges the role of associations such as CYFA.
- Official recognition of consultation with representation bodies:
The competent authority may now engage in structured consultation with recognised bodies like CYFA on matters including:
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- The formulation of the applicable legislative framework, through the exchange of views and submission of proposals.
- Compliance by licensed persons with the existing legal framework, including training and professional development.
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(For full details and the actual Gazette, please refer to Appendix 1 of the attachment provided)
This development constitutes an important milestone in strengthening the institutional voice of Administrative Service Providers and creates new opportunities for more active and meaningful involvement in regulatory processes.
We are proud to note that CYFA participated actively in the consultation process, consistently advocating for constructive dialogue and pragmatic solutions. We welcome this legislative amendment and remain committed to promoting a balanced, transparent, and forward-looking regulatory environment.
