Amendments To the Book “Cyprus Companies Law, Cap. 113” – 29 July 2025

The Cyprus Companies Law, Cap. 113, was amended on the 29^th of July 2025 for the third time by Law 162 (I) of 2025.

The Amending Law introduced a number of significant and extensive changes for the purpose of harmonisation with Directive (EU) 2022/2464 of the European Parliament and of the Council of 14 December 2022 amending Regulation (EU) No 537/2014, Directive 2004/109/EC, Directive 2006/43/EC and Directive 2013/34/EU, as regards corporate sustainability reporting.

• The Law introduced a new definition of ‘micro companies’
• It sets out the sustainability reporting obligations of companies, it prescribes the role of the board of directors with regard to sustainability matters as well as the involvement of workers’ representatives
• It defines the categories of companies which shall include in the management report the information that is necessary to understand the impacts of the company on sustainability matters, as well as the information necessary to understand the manner in which sustainability matters affect the development, performance and position of the company
• It introduced a new section on the sustainability reports concerning third-country companies as well as a new section on the responsibility for drawing up, publishing and making accessible sustainability reports concerning third-country companies
• It provides that management reports shall be drawn up the electronic reporting format

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