As part of the Cyprus Government’s efforts to upgrade the role of Cyprus as an international and regional business and services centre, a contract was signed with the Spanish Company SEMA Group Sae, in collaboration with the companies Virtual IT Ltd – Cyprus, Mariscal & Abogados (a Spanish law firm specialising in IP rights and information telecommunication issues) and Andreas Neocleous & Co, to conduct a study for the Planning Bureau for the formulation of a national strategy for the development of electronic commerce and the future of the information technology industry in Cyprus.

The study will take into consideration the developments within the European Union and the underlying instructions and will concentrate on the establishment of the necessary legal framework for the development of electronic commerce in Cyprus.