Cyprus government proposes stricter asset disclosure rules for state officials

The Cypriot Ministry of Justice and Public Order has launched a public consultation for a new bill aimed at enhancing the transparency of public officials. Under the proposed legislation, the President, ministers, members of Parliament, and other high-ranking officials—including four assistant chiefs of police—will be required to submit asset declarations, or "pothen esches," four times during a five-year term rather than only upon entering and exiting office. The schedule mandates filings four months after taking office, at the 30-month mark, again after another 30 months, and before the conclusion of the mandate.

The bill, drafted by the Law Commissioner, requires officials to provide detailed statements of income, expenditure, and net worth reconciliations. Crucially, the authority to verify these documents will shift to the Tax Commissioner, closing existing gaps that only penalized false reporting while failing to address non-submission. These amendments are designed to align Cyprus with the recommendations of the 5th Evaluation Round of the Council of Europe’s Group of States against Corruption (GRECO). The current proposal explicitly states that the new rules will not apply to officials currently in office. The Ministry of Justice is collecting feedback from the public as part of the legislative development process.