Cyprus Embraces Social Enterprise Innovation With True Heart Café Inauguration

Strategic Subsidies Drive Social Enterprise Growth

Cyprus is expanding efforts to support social entrepreneurship through its “Plan to Encourage Registration of Beneficiary Enterprises in the Social Enterprises Registry,” which includes financial incentives aimed at helping social enterprises cover initial setup and operating costs.

Kypros Protopapas said registered social enterprises can now apply for a one-off grant of €10,000 as part of the government’s broader strategy to strengthen the social economy sector.

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From Policy To Practice: The True Heart Café Case

Speaking during the inauguration of True Heart Café, the first social enterprise in Cyprus focused on integration, Protopapas said the project demonstrates how the Social Enterprises Law is moving from legislative framework to practical implementation.

According to the commissioner, the legislation established the foundations for a social economy model that combines commercial activity with broader social objectives. True Heart Café was presented as an example of how business activity can operate alongside measurable social impact rather than focusing solely on financial returns.

A Model For Inclusive Entrepreneurship

Protopapas also described social entrepreneurship as a model that places greater emphasis on people, inclusion and sustainability within the business environment. Government agencies, including the Commissioner’s Office and relevant ministries, have worked on incentive structures intended to encourage the creation and expansion of social enterprises across Cyprus. The broader approach aligns with European efforts aimed at strengthening socially focused economic activity and inclusive business models.

Government Endorsement And High-Level Participation

The inauguration ceremony in Nicosia was attended by several senior government officials, including Klea Papadellina, who formally opened the café. Additional attendees included Nikos Christodoulides, Konstantinos Ioannou, Marinos Mousiotis and Charalambos Proutzos, reflecting broader government support for inclusive employment initiatives.

Empowering Individuals And Driving Change

Papadellina said the project represents a new model of social entrepreneurship focused on inclusion and participation. Eighteen individuals with autism are involved in the operation of the café, with several also participating as co-shareholders, creating opportunities for both economic participation and personal empowerment. She additionally encouraged businesses to adopt more inclusive employment practices, arguing that success should also be measured through social impact alongside economic performance.

Looking Ahead

As Cyprus continues expanding its social economy framework in line with broader European policies, projects such as True Heart Café are expected to play a larger role in promoting inclusive entrepreneurship and social integration. Authorities said efforts will continue toward strengthening policies that support the inclusion of people with disabilities across economic and social life.

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Cyprus Crypto Users Face New Risks As MiCA Rules Take Effect

by News Editor

August 18, 2026

Why Investors Need To Check The Company Behind Their Crypto Platform

Crypto users in Cyprus are being urged to verify exactly which company holds their assets after the EU’s Markets in Crypto-Assets Regulation (MiCA) transition period ended on July 1, 2026.

MiCA rules for crypto-asset service providers have applied since December 2024, but Cyprus allowed companies operating under its previous national framework to continue temporarily. CySEC required providers wishing to remain in the market to apply by February 27, 2026.

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The end of the transition means that appearing on an old national register is no longer enough. Investors must check the specific legal entity providing the service and the activities it is authorised to perform.

Two Regulatory Routes

CySEC maintains separate registers for providers authorised under Article 63 and companies using the Article 60 notification route.

The lists should not simply be treated as a count of licensed crypto exchanges. Providers have different regulatory statuses and may be authorised for different services, including custody, transfers, exchanges or operating trading platforms.

Companies authorised elsewhere in the EU can also serve Cypriot customers through MiCA passporting. Investors should therefore check the wider ESMA register.

Familiar Brands Can Still Be Used In Scams

MiCA authorisation applies to a specific legal entity, not automatically to every website, subsidiary or service using the same brand. Fraudsters can copy a legitimate company’s name, logo and licence number while changing its website or payment details.

The regulatory transition creates another opportunity for scammers. They can imitate legitimate notices about account closures or transfers and claim that customers must urgently move their assets to a new “regulated” platform.

In its July announcement, CySEC warned that customers using unauthorised providers do not receive MiCA protections and advised investors to verify providers through ESMA.

A Wider European Shake-Up

The changes affect the broader European crypto market. VASPnet estimated that more than 1,700 unlicensed crypto companies could face closure, relocation or restructuring after the transition period.

ESMA’s register contained 323 authorised providers at the end of July, while TRM Labs identified 1,343 operating providers in the European Economic Area on July 1, including 281 with MiCA authorisation. The different figures reflect different methodologies, but point to a substantial number of providers operating without the new authorisation.

ESMA instructed unauthorised companies to stop accepting new EU customers, opening accounts and marketing their services, while allowing limited activity needed for an orderly withdrawal.

What Investors Should Check

MiCA introduces common requirements for areas such as governance, disclosures and safeguarding client assets, but it does not make crypto investments risk-free.

For Cyprus users, the key questions are which legal entity provides the service, what it is authorised to do and whether the website or contact details are genuine.

Requests to transfer assets urgently, pay recovery fees, reveal private keys or install remote-access software should be treated as red flags. MiCA may bring greater clarity to the market, but the transition has also created a new opportunity for criminals to exploit a very real regulatory change.

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