Yes. One community reply says that if your index participation results in securities, then gains are not taxable, and it adds: “Same for any futures/forwards/swaps/options.” That points to S&P 500 futures like ES e-mini being treated as an exempted title for Cyprus tax purposes. 1
There is also a separate community comment saying that if something is not titles—they specifically mention crypto—then frequent trading can be taxed as normal income based on the badges of trade test. That comment does not say futures are non-titles, and Source 4 explicitly groups futures with exempt instruments. 2 1
Next step: check how your broker classifies the contract and keep clear records of the instrument type and trading activity. Confirm the current treatment of ES e-mini futures with a Cyprus tax accountant before relying on it.