Cyprus plans €212.2m for digitisation in 2027, with a new Registrar of Companies system and an AI strategy due for approval

What happened

According to Cyprus Mail and Politis on 9 November 2026, the Deputy Ministry's 2027 budget is €150.2 million and a further €62 million sits in the budgets of other ministries for digitisation projects, €212.2 million in all. These amounts are a proposal still before the House. Mr Damianou cited more than 200 new digital services in the past two years and more than 170,000 users of the Digital Citizen app.

The new Registrar of Companies system was described as particularly important for business activity and for attracting investment. Cyprus Mail places it in 2027 and Politis among projects for 2027 and 2028. No delivery date was given and nothing was said about what will change. In a written reply to an MP, reported by Cyprus Mail the same day, the Minister of Energy, Commerce and Industry said company registration aims to take two to four working days, at a fee of €165, or €235 for companies without share capital, plus €100 for faster processing.

The draft strategy went to public consultation from 20 July to 31 August 2026. As Cyprus Mail reported at the time, it proposes a Digital Company 2.0 initiative for firms' digital dealings with the state and a digital company portal, while AI use among enterprises stands at 9.3%, against about 20% in the EU. Cybersecurity gets dedicated funding for a third year, and a common policy framework for the public service was set in 2026.

“Digital progress must be accompanied by appropriate security mechanisms”

What it means for an office in Cyprus

For accounting, law and corporate services offices, a new Registrar system means a change in how forms are filed and checked, and probably a transition period. That is our own assessment, because the state has not yet given details. Any automation built on today's screens or document formats will need rechecking. Offices that keep clean data of their own on client companies will get through the move more easily.

The AI strategy is not a law and does not by itself create obligations for businesses. Those come from the EU AI Act and from the Cyprus bill that is still pending. It will, however, show where programmes and funding are heading. The measures reported so far come from the consultation draft, and the final text may differ. The reports of the session we read mention no new subsidy scheme for offices and no e-invoicing. This article is not legal advice.

What to do

• List which office tasks go through the Registrar of Companies, how long they take and who does them, so you can measure the difference when the system changes
• Check now that the data on the companies you handle are current: directors, secretary, registered office, annual returns
• Avoid building new automation that depends on the Registrar's current screens: keep the data in a structured file of your own
• Read the final strategy when it is approved and note anything on Digital Company 2.0 and on small and medium enterprises
• If you already use AI tools, do not wait for the strategy: check what applies today on AI literacy and which grants are open