Nicosia, Cyprus. The Cabinet has approved a bill requiring more balanced representation of women and men in the senior decision-making bodies of listed companies, in a step aimed at aligning Cyprus with EU equality rules.
Bill provisions
Gender Equality Commissioner Josie Christodoulou said the bill, entitled “The Gender Balance in Managerial Positions of Listed Companies and Related Measures Law of 2026”, provides that members of the underrepresented sex must hold at least 33 per cent of all management positions in listed companies.
Writing on her personal platform, Christodoulou described the approval as “another essential step towards equality between women and men”, saying the bill promotes balanced representation on boards through merit-based and transparent selection procedures.
Alignment with EU rules
The proposed legislation brings Cyprus into line with Directive 2022/2381, the EU’s corporate board gender balance framework. Under the directive, large listed companies in the EU must meet one of two targets, 40 per cent representation of the underrepresented sex among non-executive directors, or 33 per cent among all directors, by June 30, 2026.
The directive also requires companies that have not reached the target to apply clear, gender-neutral and unambiguous criteria when selecting board candidates. Candidates must be assessed objectively on the basis of suitability, competence and professional performance, while priority for the underrepresented sex applies only where candidates are equally qualified.
In addition, companies that fail to meet the objective must report the reasons for the shortfall and the measures being taken to address it. Member states must also provide for penalties that are effective, proportionate and dissuasive, which may include fines or the annulment of contested appointments.
Current representation in Cyprus
For Cyprus, the bill comes against a still significant gap in corporate leadership. The European Institute for Gender Equality’s 2025 factsheet for Cyprus shows that women hold 11 per cent of board seats in the largest listed companies, while they account for 26 per cent of management positions more broadly.
Christodoulou said equal participation in economic decision-making strengthens corporate governance, sustainable growth and the competitiveness of the economy, benefiting society as a whole.
Preparation and implementation
Christodoulou also thanked the Department of the Registrar of Companies and Intellectual Property, the Office of the Commissioner for Legislation and former Commissioner for Legislation Louisa Zanettou for their contribution to the preparation of the bill.
The next stage will be implementation, with the bill setting a clear target while its impact depending on how listed companies adapt their nomination procedures, how transparently appointments are made and how closely compliance is monitored once the law is in force.