Electronic Invoicing To Become Standard For Cyprus Public Contracts

Enhancing Payment Efficiency

Cyprus is expanding the use of electronic invoicing for companies involved in public sector projects as part of the government’s broader digital transformation strategy. Under the new framework introduced by the Deputy Ministry of Research, Innovation and Digital Policy, electronic invoices linked to public contracts will receive priority processing, with payments expected within 20 days following receipt or approval. Authorities said the measure is intended to improve cash flow for businesses while accelerating payment procedures across the public sector.

Streamlining Bureaucratic Processes

The transition to electronic invoicing is also expected to reduce reliance on paper-based administrative procedures and simplify invoice management processes for both businesses and government departments. Digital invoicing systems will additionally support automated payment flows, reduce manual errors and improve access to archived transaction records. According to officials, the changes are designed to strengthen transparency, operational efficiency and transaction security.

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Facilitating Public Sector Engagement

The Deputy Ministry is also promoting the use of an electronic invoice acceptance system via the existing PEPPOL Access Point managed by the Central Government. This integration further simplifies the invoice submission process, ensuring that public contracts are executed with both speed and reliability.

Driving A Modern, Competitive Economy

This strategic move is a crucial component of the state’s broader digital transformation agenda. By embedding cutting-edge digital procedures into public services, the government is paving the way for enhanced service delivery and a more competitive, innovation-driven market.

Key Benefits Include:

Accelerated Payments: Electronic invoices will be processed with priority, ensuring settlements within 20 days.
Reduced Bureaucracy: Elimination of paper-based processes minimizes errors and saves valuable resources.
Enhanced Transparency and Security: Secure digital archiving offers full visibility into invoice histories, fostering accountability.

With the implementation of electronic invoicing, both the public sector and private enterprises stand to gain substantial operational advantages, bolstering the country’s position in the digital age.

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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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