The Philips College was founded in 1978 with the help of the Minister of Education of the United Kingdom at the time, the honourable Gerry Fowler, and the former Chairperson of the Council of the University of Cyprus, Yiannis Koutsakos, along with a well-known psychiatrist, Takis Evdokas and a professional accountant, who became the first Principal of the Philips College, Philippos Constantinou.
1981 – Recognition of the first awards – first students transfer to universities in the United Kingdom and the United States of America for postgraduate studies.
1996 – Recognition of awards from the Philips College by the Council of National Academic Awards of Ireland.
2000 – Accreditation of selected Philips College awards by the National Accreditation body of Cyprus (SEKAP).
2005 – Publication of Law 109(I)/2005, covering private universities in Cyprus.
2005 – 2011 – Amendments to the Law covering private universities: Law 197(I)/2007, 90(I)/2008, 75(I)/2010, 115(I)/2010, 74(I)/2011.
2011 – The Philips College becomes a member of the Association of Commonwealth Universities.
2015 – The Cyprus Agency of Quality Assurance and Accreditation in Higher Education (DI.P.A.E.) established in November 2015, by Law (N.136(I)/2015), as the competent authority for quality assurance and accreditation in Higher Education in the Republic of Cyprus.
2018 – The initial license to operate a university with the name Philips University was granted by the Council of the Cyprus Agency of Quality Assurance and Accreditation of Higher Education at its 37th Meeting on 11 December, 2018.
2019 – The license to operate Philips University and its registration in the Registry of Universities was granted by the Cyprus Council of Ministers during their meetings on 15 October 2019; reference decision No. 88.356.