Three institutional reforms concerning the modernisation of the audit and legal services are set to be approved by the Council of Ministers on Wednesday, President Nikos Christodoulides said on his way into the meeting.

“For the first time in 65 years, our country is proceeding with substantial modernisation,” the president said.

The first reform divides the attorney-general’s role into two, separating its advisory role from state prosecutions.

A new prosecutor general and assistant public prosecutor will handle prosecutions, while the attorney general and his deputy will remain legal advisers to the state.

All positions are set to have a single, non-renewable eight-year term.

The audit office will also be overhauled, with the establishment of a three-member audit board, aiming to secure the service’s financial autonomy.

“Following the standards of other EU member states, a three-member audit board will be established, which will operate in conjunction with the auditor general and the assistant auditor general,” Christodoulides said.

The reform will also include the introduction of term limits and updated set of required qualifications for the roles.

“These changes align Cyprus with other EU member states and are aimed at increasing institutional credibility,” Christodoulides said.

As a third measure, the cabinet is set to approve the creation of a National Foreign Direct Investment Control Mechanism to monitor foreign investments in projects of national security and public interest.

The framework will bring Cyprus in line with EU practices and replace a previous draft law submitted in 2022.