News

On 19.6.2015 the Companies Law(Amending) (No 4) Law of 2015, [N89(I)/2015] was published in the Official Gazette of the Republic. The Amendment Law aims at the modernisation of Companies Law via interalia, streamlining the process of registration and strengthening the enforcement powers of the Registrar to ensure adequate updating of information and de-registration of non-compliant companies.

Some key provisions and modernising existing procedures. The amendments include:

  • by removing of the Registrar’s handwritten signature during the certification of the company registration, charge registration, copy of the court order and delivery of the court order
  • by delegating the power of authorization to other officers in the Department of Registrar or Companies and Official Receiver
  • by introducing of a seal to certify documents and delegating of the Registrar’s signing authority at any time, not just in his absence
  • by simplifying the objects to be recorded in the memorandum of trading companies and introducing the term of a ‘trading company for general purposes’ on the basis of which the company may carry out any work, business or profession
  • by simplifying various forms
  • by increasing of the minimum number of shareholder members to include any member in the employment of any subsidiary or any holding of the company and/or any subsidiary company of the holding of the company.

Read more about Company law amendment of June 2015

 

August 14, 2015

Cyprus Companies Law Cap.113 further modernised by recent amendment

On 19.6.2015 the Companies Law(Amending) (No 4) Law of 2015, [N89(I)/2015] was published in the Official Gazette of the Republic. The Amendment Law aims at the modernisation […]
August 7, 2015

Cyprus and Iran sign avoidance of double taxation treaty

Conclusion of the Agreement on the Avoidance of Double Taxation and Fiscal Evasion with respect to Taxes on Income between the Government of the Republic of […]
July 21, 2015

CYSEC Appointed as Competent Authority as per the Regulation on settlement and Central Securities Depositories

The Cyprus Securities and Exchange Commission (“CySEC”) has announced that it has been appointed by the Minister of Finance under a Ministerial Notification as the competent […]
July 6, 2015

Disbursement of the latest tranches of financial assistance to Cyprus approved by ESM and IMF

On 3 July the European Stability Mechanism (ESM) and the International Monetary Fund (IMF) approved the disbursement of the latest tranches (€100 million and €280 million […]