12/06/2026
On 30 June 2026 — less than three weeks away — the compliance deadline expires for listed companies under EU Directive 2022/2381 on Gender Balance on Corporate Boards. And Cyprus is starting from a very difficult position.
According to European Commission data, Cyprus recorded the lowest percentage of women on the boards of listed companies in the entire EU — just 8.5%. The EU average exceeds 30%.
What listed companies must achieve by 30 June 2026:
→ At least 40% representation of the underrepresented s*x among non-executive directors
or
→ At least 33% across all director positions (executive and non-executive combined)
The Directive applies to listed companies with more than 250 employees and either an annual turnover above €50 million or a balance sheet exceeding €43 million.
The critical issue for Cyprus: the Directive has not yet been transposed into national law. In January 2025, the European Commission launched the first stage of infringement proceedings against Cyprus (letter of formal notice). Having received no satisfactory response, in April 2026 the Commission escalated to the second stage (reasoned opinion) — the final step before referral to the Court of Justice of the EU.
This creates legal uncertainty around the applicable penalties framework — but it does not remove the obligation for listed companies to meet the Directive's targets by the deadline.
For board members and legal advisors of listed companies, the question is no longer "do we need to comply?" — it is "what concrete steps are we taking in the next three weeks?"
We can review your board composition and advise on the steps toward compliance.
📩 Contact us or visit www.eklaw.com.cy to book a consultation.
