COMPANIES LAW HIGHLIGHTS

Governing Law

Companies Law, Cap 113

Share Capital

No minimum paid-up share capital. A minimum of one share may be issued

Directors

Minimum one, can be corporate body or an individual

Secretary

Required, can be corporate

Shareholder

Minimum one, can be corporate body or an individual

Registered office

Required

Type of companies

-Companies with limited liability by shares: Private & Public
-Partnerships
-Branch if an overseas company
-ICIS  ‘International Collective Investment Schemes ‘
-UCITS ‘Open – Ended Undertakings for Collective Investments in Transferable Securities’
-CIF ’Cypriot Investment Firms’
-SE ‘Formation of Societas Europaea’

Annual Return and Audited Financial Statements

Must be filed to the Registrar of Companies within 42 days after the Annual General Meeting.
Failure to file them may result in penalties.

Statutory Financial Statements

Required for all companies

Dissolution procedures

Final financial statements must be filed with Cyprus Inland Revenue Department.
Shareholders resolution for the dissolution and submission to the Registrar of Companies by company lawyer.
Publication should be made in Government Newspaper.
Procedure can take 3 to 6 months subject to no objection being made.

Incorporation

Approximately 5 working days to get a name approved. Formation then takes a further 12 working days.

Currency control

No restriction