Cyprus enacts Business Development Organisation Law to enhance SME financing and innovation
The Cyprus Business Development Organisation Law 2026 (Law 124(I)/2026) was enacted in July 2026 to establish the Cyprus Business Development Organisation, aimed at improving access to finance for eligible micro, small, and medium-sized enterprises operating in Cyprus. The organisation is designed to bridge funding gaps by connecting businesses with public, European, and other funding sources, while complying with national and EU state aid regulations.
The law promotes entrepreneurship, innovation, and the digital and green transition of Cypriot enterprises, supporting their sustainable development and international competitiveness. It also facilitates the utilisation of European funds and participation in relevant instruments to boost economic growth and investment. Future regulations will define eligibility criteria and conditions to ensure effective law implementation.
Businesses seeking funding through this new framework should evaluate legal, corporate, and transactional factors early, including compliance, financing arrangements, restructuring, and due diligence. As the organisation becomes operational, firms are advised to monitor developments closely and prepare for any necessary adjustments to access financing opportunities provided under the new framework.
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