We would like to inform you regarding the publication of Cyprus Securities and Exchange Commission (CySEC), regarding the new Sanction Application Form for Authorisation Involving Sanctioned Individuals or Entities.
The new process introduces a standardised application form used to request authorisation for transactions or activities involving individuals or entities subject to EU sanctions.
The application may be used to request permission to carry out a transaction, continue a business relationship, or access frozen funds or economic resources exceeding €100,000, where permitted under applicable sanctions regulations and subject to an applicable derogation – https://www.cylaw.org/nomoi/arith/2025_1_150.pdf.
For purposes of fund unfreezing requests, applications may be submitted by:
- economic operators established in the Republic of Cyprus or having a branch in the Republic of Cyprus, provided that the request relates to accounts maintained with a credit institution within the Republic of Cyprus; and
- service providers representing natural or legal persons subject to sanctions, where the requests relate to accounts held outside the Republic of Cyprus for the purpose of executing payments within or outside the Republic of Cyprus.
The purpose of the new process is to ensure that all requests are submitted in a uniform manner to the National Sanctions Implementation Unit under the Ministry of Finance.
From 31 October 2025, all applications will be submitted electronically via the designated online form available at the following link: https://forms.office.com/e/fmiBbTfZ55.
For a short transitional period, applications may still be submitted via email using the existing forms. This transitional arrangement will remain in place until 31 December 2025, after which email submissions will no longer be accepted.
For further information or assistance, please do not hesitate to contact us.