We are pleased to announce that, following the successful transposition of the Corporate Sustainability Reporting Directive (“CSRD”) by drafting the Companies (Amendment) (No. 3) Law of 2025 (Law No. 162(I)/2025), our firm has been appointed by the Department of Registrar of Companies and Intellectual Property to amend the Cyprus Companies Law (Cap. 113) to transpose, into Cypriot legislation, Directive (EU) 2026/470 of the European Parliament and of the Council of 24 February 2026 amending Directives 2006/43/EC, 2013/34/EU, (EU) 2022/2464 and (EU) 2024/1760 as regards certain corporate sustainability reporting requirements and certain corporate sustainability due diligence requirements (the “Omnibus I Directive”).

The Omnibus I Directive significantly narrows the scope of the CSRD, making mandatory CSRD reporting applicable to companies with both more than 1,000 employees and a net turnover of more than EUR 450 million. Non-EU companies must report only if they have generated a net turnover of over EUR 450 million in the EU for each of the last two consecutive financial years and their EU subsidiary or branch generated a net turnover exceeding EUR 200 million in the preceding financial year.

Our team is comprised of Christiana Vassiliou, Emily Tornaritis and Froso Rossou.

May 2026, Antis Triantafyllides & Sons LLC, Nicosia, Cyprus