Crowdfunding for election campaigns not regulated under public collections law in Cyprus
Cyprus Interior Minister Konstantinos Ioannou clarified that crowdfunding appeals made by investigative journalist Makarios Drousiotis and President Nikos Christodoulides during the 2023 election campaign do not fall under the 2014 law on public collections. The law primarily governs appeals for charitable, religious, environmental, and welfare purposes, but explicitly excludes financial support for election campaigns. Drousiotis had solicited funds for his legal defence in a trial, while Christodoulides raised money for his presidential bid.
Ioannou explained that the determining factor in applying the law is the purpose of the appeal, not the act of raising funds online. Cases involving crowdfunding are evaluated individually based on factors such as the organiser's identity, transparency, legality, and any signs of criminal activity. Election campaign financing is regulated separately, with strict spending caps and reporting requirements audited by the Auditor General.
The Interior Ministry will review possible regulatory changes in light of a new European regulation on crowdfunding platforms coming into effect in 2027. Under existing rules, public collections require a licence and are typically granted for social needs, disaster relief, or monument erection, not political fundraising.
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