Cyprus companies

 

Scope

The scope of this category of publications is to focus on company law in Cyprus, analyze and review amendments to the Cyprus Companies Law as well as current and future practices such as the reduction of capital, change of directors, change of the name and other.

Companies Law

In Cyprus, the predominant law covering companies’ dealings is the Companies Law, Chapter 113 of the Statute Laws.

The Companies Law was adopted during the establishment of the Republic of Cyprus (1960). Chiefly the legislative body then, adopted the Companies Act of 1948 as applied in the United Kingdom. Since then the Companies’ Law has been amended, 63 times, to adhere to the developing landscape of Cypriot companies and the international clients that they serve.

As of July 2019, i am aware of an overhaul to the Cyprus Companies’ law. It will be interesting to examine how the various disclosures (Cyprus Beneficial Ownership Registered, the General Data Protection Act, DAG6) will be adopted and applied.

Publications

 

Annual Levy Abolition discussed in parliament

Annual Levy Abolition discussed in parliament

The parliamentary committee of Energy, Trade, Industry and Tourism shall meet on Tuesday the 17th of September 2019 to discuss, among others, the abolition of the Annual Levy of Euro 350 applicable to every Cyprus company registered with the Department of the Registrar of Companies and Official receiver in Cyprus.