
CySEC Unveils Supervisory Priorities for 2025
CySEC Unveils Supervisory Priorities for 2025: Strengthening Regulatory Oversight and Market Integrity
The Cyprus Securities and Exchange Commission (CySEC) has announced its Supervisory Priorities for 2025, reinforcing its commitment to safeguarding investor protection and maintaining market integrity. As financial markets evolve, CySEC aims to ensure that regulated entities align with emerging regulatory requirements while continuing to build upon the progress made in 2024.
Key Regulatory Focus Areas
For 2025, CySEC will emphasize the following priorities to enhance regulatory oversight and mitigate emerging risks:
- Regulatory Monitoring and Thematic Reviews: CySEC will continue its proactive supervision of regulated entities, conducting ongoing monitoring and targeted thematic reviews to assess compliance effectiveness.
- Implementation of DORA and MiCA: With the introduction of the Digital Operational Resilience Act (DORA) and the Markets in Crypto-Assets Regulation (MiCA), entities must ensure their policies and procedures comply with the new regulatory frameworks.
- Addressing AI and Fin-Fluencer Risks: The increasing impact of artificial intelligence (AI) and financial influencers (fin-fluencers) in the financial sector has prompted CySEC to conduct thematic reviews to evaluate how these elements influence the market and investor decision-making.
- Governance and Risk Management Enhancements: Entities must reinforce governance structures, internal audit frameworks, and compliance mechanisms to meet CySEC’s evolving supervisory expectations.
- ESG and Sustainability Compliance: Firms must implement robust processes for Environmental, Social, and Governance (ESG) compliance and ensure transparency in their disclosures.
- Investment in Technological Resilience: CySEC encourages regulated entities to invest in technology that enhances ICT risk management and strengthens operational resilience against cybersecurity threats.
Expectations for Regulated Entities
CySEC has outlined specific requirements for regulated entities to ensure compliance with its 2025 priorities:
- Review and update internal policies to align with DORA, MiCA, and other regulatory expectations.
- Enhance governance structures to ensure robust risk management, compliance, and internal auditing practices.
- Prepare for thematic reviews focusing on AI usage, financial influencers, and compliance in the fund management sector.
- Commit to sustainability by ensuring ESG regulatory compliance and appropriate disclosures.
- Leverage technology to improve operational resilience and ICT risk management.
CySEC’s Supportive Initiatives
To assist entities in implementing these priorities, CySEC will:
- Issue circulars and technical documentation to clarify expectations related to DORA, MiCA, and other regulations.
- Host workshops and webinars to provide industry insights and address compliance concerns.
- Conduct interim reviews to monitor regulatory progress and offer necessary guidance.
A Commitment to Market Integrity
Commenting on the launch of the 2025 Supervisory Priorities, CySEC Chairman, Dr. George Theocharides, stated:
“We are delighted to launch our Supervisory Priorities for 2025, providing guidance to regulated entities on the increasing measures they must undertake to comply with evolving regulations. As the financial sector adapts to challenges such as AI adoption and online financial promotions by influencers, CySEC remains committed to safeguarding investors and fostering a strong culture of compliance within the industry.”
With these initiatives, CySEC underscores its dedication to maintaining a secure, transparent, and compliant financial environment, ensuring that Cyprus remains a reputable hub for financial services.
How Our Law Firm Can Assist
At Andria Papageorgiou Law Firm, we specialize in regulatory compliance and legal advisory services, helping businesses navigate the evolving financial regulatory landscape. Our team provides expert guidance on CySEC’s requirements, including DORA and MiCA compliance, governance enhancements, risk management strategies, and AI and ESG regulatory considerations. Whether you need assistance with policy reviews, internal audit frameworks, or thematic review preparations, we are here to ensure that your business meets all supervisory expectations efficiently and effectively.

CySEC’s Circular C680: New ESG Compliance Requirements for Cyprus Investment Firms
The Cyprus Securities and Exchange Commission (CySEC) has issued Circular C680, introducing the Common Supervisory Approach (CSA) for 2024-25, focusing on the integration of sustainability factors into suitability assessments and product governance processes. This aligns with the 2022 amendments to MiFID II Delegated Acts, reinforcing the growing importance of Environmental, Social, and Governance (ESG) considerations in investment services.
Key Compliance Requirements for Cyprus Investment Firms (CIFs)
Under the CSA, CySEC will assess how CIFs integrate sustainability into their investment advice and portfolio management services. The focus areas include:
- Collecting Client ESG Preferences: Firms must gather and document clients’ sustainability preferences during the suitability assessment.
- Understanding ESG Investment Products: Establishing procedures to assess, categorize, and match investment products with ESG factors.
- Ensuring Suitability Compliance: Ensuring that investment recommendations align with clients’ sustainability preferences, potentially applying a portfolio approach where necessary.
- Target Market ESG Assessment: Defining sustainability-related objectives when assessing investment products for a target market definition.
CySEC will conduct on-site inspections and desk-based reviews on selected CIFs from August 2, 2022, to December 31, 2024, to evaluate compliance with these sustainability requirements.
How Andria Papageorgiu Law Firm Can Assist
Navigating the evolving MiFID II sustainability requirements can be complex. Andria Papageorgiou Law Firm is well-positioned to assist Cyprus Investment Firms in ensuring full compliance with the ESG-related obligations outlined in Circular C680.
Our services include:
✔ Regulatory Gap Analysis: Assessing your firm’s current policies and procedures against the new sustainability requirements.
✔ Policy & Documentation Review: Assisting with drafting and updating suitability assessment frameworks and ESG investment policies.
✔ Compliance Training: Providing tailored training sessions for investment professionals on ESG compliance under MiFID II.
✔ Regulatory Filings & Audit Support: Assisting with preparing for CySEC inspections and ensuring robust documentation to withstand regulatory scrutiny.
For further details, refer to the CySEC’s Circular here.
In case you have any questions, please do not hesitate to contact us for further professional assistance.
Disclaimer: The information contained in this article is provided for informational purposes only, and should not be construed as legal advice on any matter. Andria Papageorgiou Law Firm is not responsible for any actions (or lack thereof) taken as a result of relying on or in any way using information contained in this article and in no event shall be liable for any damages resulting from reliance on or use of this information.

CySEC Publishes Consultation Paper on Fees under DORA
The Cyprus Securities and Exchange Commission (CySEC) has issued Consultation Paper CP-01-2025, outlining the proposed fees for entities falling under the Digital Operational Resilience Act (DORA). This move aligns with the Regulation (EU) 2022/2554, which aims to establish a harmonized framework for digital operational resilience across the financial sector in the European Union.
A. Scope of the Consultation
The paper is open for feedback from market participants and investors until March 7, 2025. It specifically concerns financial entities regulated by CySEC, including:
- Cyprus Investment Firms (CIFs)
- Crypto-Asset Service Providers (CASPs)
- Central Securities Depositories
- Central Counterparties
- Trading Venues
- Alternative Investment Fund Managers (AIFMs)
- Management Companies
- Crowdfunding Service Providers
B. Key Proposals on Fees
CySEC proposes an annual ICT Oversight Fee, depending on the entity’s classification under DORA:
Entity Type | Annual ICT Oversight Fee |
---|---|
Microenterprises (fewer than 10 employees, revenue < €2M) | €3,000 |
Small Enterprises (10–50 employees, revenue €2M–€10M) | €6,000 |
Medium-Sized Enterprises (50–250 employees, revenue ≤ €50M) | €10,000 |
Larger Entities (above medium-sized threshold) | €20,000 |
Additionally, financial entities required to undergo a Threat-Led Penetration Test (TLPT) will face an additional TLPT assessment fee of €50,000 per test.
C. Implementation and Compliance
Entities must self-categorize based on their latest audited financial statements and submit their classification to CySEC between September 1-15 each year. The applicable fee must be paid by November 30 annually, with the first payments due in 2025.
D. Consultation Questions
CySEC invites stakeholders to provide input on:
- Whether they agree with the proposed annual ICT Oversight Fee.
- Whether they agree with the TLPT assessment fee.
Responses should be concise and submitted in a Word document via email to [email protected], following the format:
“CP-01-2025 – [Name of Organization or Individual]”.
The Consultation Paper on DORA fees marks an important step in Cyprus’ regulatory alignment with EU financial resilience standards. Market participants are encouraged to review the proposals and submit feedback before the March 7 deadline.
For further details, refer to the full Consultation Paper here.
In case you have any questions, please do not hesitate to contact us for further professional assistance.
Disclaimer: The information contained in this article is provided for informational purposes only, and should not be construed as legal advice on any matter. Andria Papageorgiou Law Firm is not responsible for any actions (or lack thereof) taken as a result of relying on or in any way using information contained in this article and in no event shall be liable for any damages resulting from reliance on or use of this information.

AI Act Set to Come into Force on 1 August 2024
The countdown to compliance with the Artificial Intelligence Act (“AI Act”) has started. Signed into law on June 13, 2024, the AI Act was set for publication in the EU Official Journal on July 12, 2024, and will enter into force on August 1, 2024.
Background
The AI Act establishes a legal framework aimed at achieving human-centric AI, protecting health, safety, and fundamental rights from the harmful effects of AI, while promoting innovation.
Scope of the AI Act
The AI Act applies to all stakeholders in the AI value chain, including AI providers (such as those of general-purpose AI, or “GPAI”), users, importers, distributors, manufacturers, and authorized representatives. Exemptions exist for AI systems used in scientific research, military, defense, or international cooperation, provided fundamental rights safeguards are in place.
Extra-Territorial Scope
The AI Act has extra-territorial reach, impacting organizations inside and outside the EU. It applies to entities placing AI on the EU market, using AI outputs within the EU, or providers of AI systems and general AI models outside the EU, who must appoint an EU-based representative.
Risk Categories
The AI Act adopts a risk-based approach, with regulations varying based on the severity and likelihood of harm:
- Prohibited: AI systems for social scoring, cognitive behavioral manipulation, biometric categorization.
- High: AI in employment, credit decisions, health/life insurance risk assessment.
- GPAI: Large language models like ChatGPT.
- Limited: Chatbots.
- Minimal: Spam filters, video games.
High Risk Providers
High-risk AI system providers must adhere to various obligations:
- Risk management systems
- Data governance
- Technical documentation
- Record-keeping
- Transparency
- Human oversight
- Accuracy, robustness, and cybersecurity
- Quality management systems
- Documentation and log generation
- Cooperation with authorities
- Displaying the CE Mark
- Registering with the EU database
GPAI Providers
GPAI providers must prepare technical documentation, copyright policies, and publish training data. They may adhere to voluntary codes of practice for compliance. GPAI systems posing systemic risks must undergo model evaluation, ongoing assessment, risk mitigation, and incident reporting.
User Obligations
AI users have fewer obligations but must ensure staff have AI literacy. Users of high-risk AI must implement technical and organizational measures, human oversight, monitoring, and data protection impact assessments. Transparency rules apply to AI systems creating deep fakes or involving emotion recognition.
Enforcement
The EU AI Office will regulate the AI Act’s implementation, supported by the AI Board and national supervisory authorities. National authorities will oversee enforcement, appointing a public authority to supervise fundamental rights.
Fines
The AI Act imposes significant fines:
- Up to €35 million or 7% of annual global turnover for breaches of prohibited AI provisions.
- Up to €15 million or 3% of annual global turnover for other breaches.
- SME fines will consider economic viability, applying the lower of the percentages or amounts mentioned.
SME Support
Special provisions help SMEs boost innovation:
- Priority access to AI regulatory sandboxes free of charge.
- Tailored training on the AI Act.
- Information and templates for documentation.
- Simplified technical documentation for high-risk AI system providers.
Timeline
Key dates for compliance:
- November 1, 2024: Identify and notify the Commission of the national public authority for fundamental rights.
- February 1, 2025: Scope, definitions, and prohibited AI systems provisions apply.
- August 1, 2025: GPAI, penalties, and EU governance provisions apply.
- August 1, 2027: Safety components and specific high-risk products (Annex I) provisions apply.
Future Developments
The AI Act is part of the EU’s broader legal approach, including the proposed AI Liability Directive and the Product Liability Directive, addressing procedural rules for civil claims and compensation for defective AI systems.
What to Do Now
Organizations should proactively:
- Identify AI used in the business and the applicable risk category.
- Implement an AI governance framework with policies, staff training, and vendor due diligence.
- Communicate compliance measures to stakeholders.
Developing an AI compliance program is time-consuming, and businesses must start early to meet the deadlines. Detailed guidance will take months to emerge, so a risk-based approach and benchmarking against industry practices are essential in the meantime.
In case you have any questions, please do not hesitate to contact us for further professional assistance.
Disclaimer: The information contained in this article is provided for informational purposes only, and should not be construed as legal advice on any matter. Andria Papageorgiou Law Firm is not responsible for any actions (or lack thereof) taken as a result of relying on or in any way using information contained in this article and in no event shall be liable for any damages resulting from reliance on or use of this information.

DORA: Why it is relevant & why is it relevant to you?
The Digital Operational Resilience Act (DORA) is a significant development in EU regulation, compelling financial entities to ensure consistent cybersecurity and operational resilience maturity levels across all their operations within the EU. With a two-year preparatory phase, organizations face a significant task of implementation and demonstration of compliance.
To navigate this transition effectively, financial institutions must conduct comprehensive gap assessments to gauge their readiness vis-à-vis DORA, identifying areas necessitating further investment and prioritization. Proactively addressing these gaps positions businesses to meet more complex requirements such as supply risk management, threat intelligence, and advanced security testing, thus gaining a competitive edge in the market.
DORA marks a substantial shift for entities under ESMA or EIOPA supervision and banks already subject to existing EBA guidelines on banking supervision. Moreover, it extends its scope to encompass previously less regulated stakeholders in the financial sector, including crypto-asset service providers, intermediaries managing alternative investment funds, crowdfunding service providers, cloud-service providers, and ICT third-party service providers.
One of DORA’s key focuses is on third-party risk management, necessitating entities to ensure the resilience of their critical ICT third-party service providers. This requires close collaboration and joint efforts to satisfy regulatory expectations, particularly in supporting the delivery of essential business services.
DORA officially entered into force at the beginning of 2023, initiating a two-year implementation period. Financial entities are thus expected to achieve compliance with the regulation by early 2025. As this deadline approaches, proactive engagement with DORA compliance becomes essential to avoid penalties and maintain operational continuity.
In light of these developments, Andria Papageorgiou Law Firm is committed to assisting organizations in navigating the complexities of DORA compliance. With our outsourced DPO services and regulatory compliance consulting, tailored to address the specific requirements of DORA, we ensure that businesses are well-equipped to meet regulatory obligations and uphold operational resilience in an evolving digital landscape.
Contact us today at [email protected] to learn more about how we can support your journey toward DORA compliance.
Disclaimer: The information contained in this article is provided for informational purposes only, and should not be construed as financial or investment or legal advice on any matter. Andria Papageorgiou Law Firm is not responsible for any actions (or lack thereof) taken as a result of relying on or in any way using information contained in this article and in no event shall be liable for any damages resulting from reliance on or use of this information.

CySEC Circular on EBA Guidelines: Enhancing Anti-Money Laundering Measures for Crypto-Asset Service Providers
We would like to draw your attention to Circular C640 (the “Circular”), issued by the Cyprus Securities and Exchange Commission (the “CySEC”) on the 26th of April 2024, for the purposes of informing Regulated Entities, as these defined therein, about European Banking Authority’s Guidelines amending Guidelines EBA/2021/02 on customer due diligence and the factors credit and financial institutions
should consider when assessing the money laundering and terrorist financing risk associated with individual business relationships and occasional transactions under Articles 17 and 18(4) of Directive (EU) 2015/849 – Guidance to crypto-asset service providers to effectively manage their exposure to ML/TF risks
On January 16, 2024, the European Banking Authority (EBA) extended its Guidelines on ML/TF risk factors to CASPs, signifying a significant stride in the EU’s efforts to combat financial crime. The new Guidelines (EBA/GL/2024/01) underscore ML/TF risk factors and mitigating measures that CASPs need to adopt, recognizing the potential abuse of CASPs for illicit financial activities.
The risks associated with CASPs are manifold, ranging from the rapidity of crypto-asset transfers to the anonymity features embedded in certain products, heightening the susceptibility to ML/TF activities. Hence, CASPS must grasp these risks comprehensively and implement effective measures to mitigate them.
The amended Guidelines serve to equip CASPs with a framework for identifying these risks, offering a non-exhaustive list of factors indicating exposure to varying levels of ML/TF risk. By leveraging these risk factors, CASPs can gain insights into their customer base and pinpoint areas of vulnerability, thereby fine-tuning their mitigating measures, including the use of blockchain analytics tools.
Recognizing the interconnectedness of the financial sector, the Guidelines extend guidance to credit and financial institutions with CASPs as clients or exposure to crypto assets. This risk is exacerbated when institutions engage with unregulated crypto-asset service providers.
In essence, these Guidelines foster a unified understanding of ML/TF risks associated with CASPs and outline the requisite steps for CASPs and other financial institutions to manage these risks effectively. The amended Guidelines will come into effect on December 30, 2024.
In line with its overarching supervisory approach, CySEC urges all Regulated Entities to adhere to the Guidelines and demonstrate the appropriateness of their AML/CFT policies, controls, and procedures in light of identified ML/TF risks, thus ensuring robust measures to combat financial crime.
Should you have any further questions, please do not hesitate to contact us at [email protected].
Disclaimer: The information contained in this article is provided for informational purposes only, and should not be construed as financial or investment or legal advice on any matter. Andria Papageorgiou Law Firm is not responsible for any actions (or lack thereof) taken as a result of relying on or in any way using information contained in this article and in no event shall be liable for any damages resulting from reliance on or use of this information.

How to Register with CySEC as a Crypto Asset Service Provider (CASP)?
The Cyprus Securities and Exchange Commission (CySEC) functions as the autonomous regulatory body overseeing the investment services market, collective investment, asset management sectors, as well as crypto-asset activities within and beyond the Republic of Cyprus. CySEC’s mission is to position the Cyprus securities market as a premier destination for investment, renowned for its security, reliability, and attractiveness.
Acting as the national authority responsible for Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT), CySEC governs Crypto-Asset Services Providers (CASP) offering services within or from Cyprus.
On September 13th, 2021, the CySECreleased a Policy Statement concerning the Registration and Operations of CASP. This statement details the registration criteria and offers further guidance on the process for becoming a registered CASP.
Submission of an application for registration in the Register of CASP:
For a complete application, the below information will be needed:
- The name, trade name, legal form and legal entity identifier of the CASP;
- the physical address of the CASP;
- the services provided and/or the activities that the CASP may carry out as defined below.
- the website of the CASP.
- the crypto-assets’ addresses of the CASP;
- the crypto-assets in relation to which the CASP provides services or exercises activities;
- the types of clients the CASP services;
- information as to whether the CASP offers payment services in crypto-assets;
- information as to whether the CASP operates crypto-assets ATMs, the number and the exact location thereof;
- the geographic jurisdictions in which the CASP operates; and
- information as to whether the CASP is registered or supervised in any other jurisdiction.
The documents and data are submitted in the official language of the Republic or in English and are originals or, where this is not possible, they are true copies of the originals. In case that the documents and data are produced in a language other than the official language of the Republic or in English, their true translation is also submitted.
List of Forms and Questionnaires for registration:
- Form 188-01: Application for CASP Registration and for Amendment of Registration;
- Form 188-02: Personal Questionnaire for CASP Beneficiaries – Natural Persons;
- Form 188-03: Personal Questionnaire for CASP Beneficiaries who are Legal Persons;
- Form 188-04: Personal Questionnaire for CASP Beneficiaries who are Trusts;
- Form 188-05: Personal Questionnaire for Persons Holding a Management Position;
- Form 188-06: List of Persons Holding a Management Position;
- Form 188-07: NotificationForm for EEA CASPs.
Crypto Asset Services:
Crypto Asset Service Providers are able to operate through varying business models due to the different combinations of crypto-asset activities and services that can be generated, based on the company’s business plan and vision. CASP are categorised into three classes according to the crypto-asset services offered:
CASP Class | Crypto Asset Services |
---|---|
Class 1
|
• Provision of investment advice
|
Class 2 | • Provision of investment advice
And/or any of the below: • Reception and transmission of client orders
|
Class 3 | • Provision of investment advice
And/or any of the below: • Reception and transmission of client orders Plus any of the below: • Administration, transfer of ownership, transfer of site, holding, and/or safekeeping, including custody, of crypto assets or cryptographic keys or means enabling control over crypto assets |
Initial Capital Requirements:
The initial capital requirements differ depending on the various classes of CASPs, as outlined in the table provided below.
CASP Class | Initial Capital Requirements |
---|---|
Class 1 | 50,000 EUR |
Class 2 | 125,000 EUR |
Class 3 | 150,000 EUR |
Board of Directors:
In the case of the Board of Directors, the Board of Directors of the applicant is comprised of at least 4 persons who meet certain requirements (i.e. good reputation, experience, skills, etc.), 2 of which must direct the business activities of the CASP and 2 must be independent members.
Required Policies:
- Business Plan;
- Anti-Money Laundering Manual;
- Internal Operations Manual (IOM);
- Travel Rule Book;
- Remuneration Policy;
- Corporate Governance (if not included in the IOM);
- Business Continuity Plan and Disaster Recovery Policy;
- Outsourcing Policy (if not included in the IOM);
- Accounting Procedures (if not included in the IOM);
- Risk Management Policy;
- IT and Security Policies;
- Complaints’ Handling Policy;
- Legal Documents which will be accessible and available at all times on the website of the CASP licensed entity (i.e. Terms and Conditions).
Applications Fees:
Fees payable to the Cyprus Securities and Exchange Commission for the examination of the registration application are standard and independent of the services intended to be offered. The fee is 10,000 EUR. Where the application for the CASP registration is approved the CASP is not required to pay any additional fees to CySEC for the first year of its registration.
Annual Fees:
Annual fees payable to the Cyprus Securities and Exchange Commission for the renewal of the CASP registration for one year, are standard and independent of the services offered by the CASP. The applicable fee is 5,000 EUR from year 2 onwards.
Licensing Timeframe:
Although the relevant regulatory framework specified that CySEC shall inform the applicable within 6 months from the submission of a fully completed application, in our experience, the CASP registration procedure can be concluded in 12 months, in anticipation of CySEC’s varying workload and the applicant’s preparedness on reverting back with the information and documents requested.
Andria Papageorgiou Law Firm:
Our Firm comprises top-tier professionals dedicated to assisting both new and established CASPs offering crypto asset services in or from Cyprus with their registration process. Our team handles everything from gathering the necessary information to preparing and submitting a complete application package to CySEC, ensuring a smooth and efficient registration process on your behalf.
Once your registration is completed, our Firm stands ready to collaborate closely with you to ensure compliance with all regulatory obligations. We offer a wide array of post-registration services tailored to your specific needs.
Furthermore, for EEA-established CASPs already registered with their national competent authority, we assist in submitting the requisite notification form to CySEC, along with the necessary evidence regarding crypto asset services conducted or intended to be conducted in Cyprus.
It’s worth noting that our Law Firm has extensive experience in CASP registration, having successfully achieved the registration of a CASP-licensed entity, placing among the first 10 entities with a CASP license.
Should you have any further questions, please do not hesitate to contact us at [email protected].
Disclaimer: The information contained in this article is provided for informational purposes only, and should not be construed as financial or investment or legal advice on any matter. Andria Papageorgiou Law Firm is not responsible for any actions (or lack thereof) taken as a result of relying on or in any way using information contained in this article and in no event shall be liable for any damages resulting from reliance on or use of this information.

Why Utilise a Family Office?
A. UTILIZING FAMILY OFFICE SERVICES
If you possess substantial assets, wealth, or a significant inheritance that you wish to protect for your family’s future success in business, inheritance, or legacy maintenance, then engaging the services of a Family Office is essential. This dedicated organization, tailored exclusively for you, will address all related matters and leverage the expertise of various professionals.
By doing so, you eliminate the need to engage multiple services or offices to handle individual components, ensuring peace of mind as a dedicated team manages and fulfills all associated requirements under one roof. Expertise is sourced internally and externally through client consultation.
Within the Family Office, you gain access to lawyers, accountants, investment advisors, administrators, real estate agents, and more. These professionals provide personalized services based on your unique circumstances and status.
High-net-worth families prefer the convenience of a single office over the complexities of engaging multiple professionals. Moreover, they benefit from cohesive collaboration among experts, ensuring a unified understanding, goal, and commitment solely focused on the client.
B. SERVICES OFFERED BY A FAMILY OFFICE
The spectrum of services offered by a Family Office may vary depending on each family’s needs but typically includes:
- Secretariat
- Succession
- Planning
- Wealth Management
- Investment Portfolio
- Immovable Assets Portfolio
- Movable Assets Portfolio
C. SECRETARIAT
The Family Office can function as a Secretariat, overseeing a wide array of tasks, from setting up direct debits for regular payments to serving as your representative for international operations. These services, tailored to each client, may also include insurance coverage, safekeeping of confidential documents, timely form filing, and managing various administrative tasks.
Additionally, the Secretariat acts as a liaison with external service providers such as banks, schools, and government offices, streamlining communications and optimizing services to generate long-term savings for the client.
D. SUCCESSION PLANNING
Succession Planning is imperative for affluent families, safeguarding their legacy and wealth for future generations. This process, which encompasses funds, trusts, and intergenerational planning, involves thorough analysis and contingency planning to address potential challenges and conflicts within the family.
The Family Office facilitates Succession Planning by coordinating multiple disciplines, simplifying what would otherwise require engagement with various offices.
E. WEALTH MANAGEMENT
The impartial and comprehensive nature of the Family Office makes it an invaluable resource for Wealth Management. Unlike external entities, such as banks or accountants, the Family Office offers unbiased advice and services tailored to the client’s needs, ensuring integrity and adherence to explicit instructions.
Wealth Management services encompass market monitoring, asset oversight, tax planning, and legal compliance, allowing clients to focus on their priorities while the Family Office handles their investments and financial affairs.
F. INVESTMENT PORTFOLIO
The Investment Portfolio service provides specialized advice to identify investment opportunities aligned with the client’s goals, ethics, and interests. Through strategic planning and meticulous asset allocation, the Family Office manages both existing investments and new opportunities, ensuring optimal portfolio performance.
G. IMMOVABLE ASSETS PORTFOLIO
For real estate matters, the Family Office serves as a comprehensive resource, offering advisory, administrative, and managerial support for property portfolios. From property acquisition to daily operations and paperwork management, the Family Office ensures efficient management and preservation of immovable assets.
H. MOVABLE ASSETS PORTFOLIO
The Family Office oversees the management and upkeep of valuable collections, such as antiques, artwork, and jewelry, providing inventory management, maintenance coordination, and acquisition assistance. Additionally, it handles paperwork, insurance, and logistics associated with movable assets, ensuring their preservation and enhancement.
In case you have any questions, please do not hesitate to contact us for further professional assistance.
Disclaimer: The information contained in this article is provided for informational purposes only, and should not be construed as legal advice on any matter. Andria Papageorgiou Law Firm is not responsible for any actions (or lack thereof) taken as a result of relying on or in any way using information contained in this article and in no event shall be liable for any damages resulting from reliance on or use of this information.

Introducing Family Office Services
Safeguarding and effectively managing your family’s wealth, estate, assets, and other familial matters for future generations is a decision of utmost importance, requiring careful attention from a firm well-versed in the intricate complexities of the Family Office and sensitive to its multifaceted functions.
The essence of a Family Office extends beyond mere administrative and managerial tasks concerning familial wealth. It encompasses a suite of integrated services and functions, tailored to meet the unique lifestyle and requirements of each individual client, thus forming a customized service package.
Whether the aim is to preserve an existing estate or facilitate its growth, Andria Papageorgiou Law Firm can establish the appropriate Family Office, leveraging a wealth of expertise from legal, tax, and accounting firms, investment advisors, and real estate professionals, all consolidated into a comprehensive portfolio.
Family Office services encompass a wide array of offerings tailored to individual client needs, including the management of wealth, lifestyle, trusts, charitable foundations, valuable collections, succession plans, as well as the secure storage of essential family documents and records.
Furthermore, the Family Office addresses various legal considerations relevant to clients, spanning corporate governance, tax and estate planning, compliance, real estate transactions, employment matters, and employee benefits, among other areas.
In case you have any questions, please do not hesitate to contact us for further professional assistance.
Disclaimer: The information contained in this article is provided for informational purposes only, and should not be construed as legal advice on any matter. Andria Papageorgiou Law Firm is not responsible for any actions (or lack thereof) taken as a result of relying on or in any way using information contained in this article and in no event shall be liable for any damages resulting from reliance on or use of this information.

Parliament Passes Landmark Artificial Intelligence Act: Ensuring Safety, Compliance, and Innovation
In a historic move, Parliament has greenlit the Artificial Intelligence Act, marking a significant step towards ensuring safety, compliance with fundamental rights, and fostering innovation in the AI landscape.
This legislation, which underwent negotiations with member states in December 2023, received overwhelming support from MEPs, with 523 votes in favor, 46 against, and 49 abstentions. Its primary objective is to safeguard fundamental rights, democracy, the rule of law, and environmental sustainability from the potential risks posed by high-risk AI technologies, all the while propelling Europe forward as a global leader in the field.
Among its provisions, the Act prohibits certain AI applications deemed detrimental to citizens’ rights, such as biometric categorization systems based on sensitive characteristics and the indiscriminate collection of facial images from sources like the internet or CCTV footage for facial recognition databases. Additionally, practices like emotion recognition in workplaces and schools, social scoring, predictive policing solely based on profiling, and AI manipulation of human behavior or exploitation of vulnerabilities are strictly forbidden.
However, the legislation acknowledges exemptions for law enforcement agencies, allowing the use of biometric identification systems under tightly defined circumstances, such as targeted search operations for missing persons or counterterrorism measures, with strict safeguards in place.
Furthermore, the Act imposes clear obligations on high-risk AI systems, mandating risk assessment and mitigation measures, transparent operations, accurate decision-making, and human oversight. Citizens are granted the right to lodge complaints regarding AI systems affecting their rights and to receive explanations for decisions made by such systems.
Transparency is a cornerstone of the Act, requiring general-purpose AI systems and their underlying models to adhere to stringent transparency standards, including compliance with EU copyright laws and the disclosure of comprehensive summaries of training data. Additionally, measures are introduced to combat the proliferation of manipulated media content, such as deepfakes, by mandating clear labeling.
To support innovation and empower small and medium-sized enterprises (SMEs), regulatory sandboxes and real-world testing environments will be established at the national level, providing opportunities for developing and training innovative AI solutions before market entry.
In reflecting on this milestone, co-rapporteurs Brando Benifei and Dragos Tudorache emphasized the Act’s significance in shaping a future where AI aligns with European values, protects citizens’ rights, and fosters responsible innovation.
Looking ahead, the Act is slated for final adoption pending legal review and endorsement by the Council, with provisions set to come into effect progressively over the next few years. This landmark legislation not only responds to citizens’ demands for a safer and more trustworthy AI environment but also sets a precedent for global governance in the rapidly evolving digital landscape.
In case you have any questions, please do not hesitate to contact us for further professional assistance.
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