Cyprus Lawyers & Legal Consultants

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George Papantoniou & Co LLC’ range of Services:

  • Incorporation of various entities available under the Cyprus Law, such as Companies (Public and Private, Limited by shares or Limited by guarantee), Partnerships, Overseas companies;
  • Furthermore, we assist in establishment of other form of entities such partnerships, Joint Ventures, Foundations and Institutions;
  • Incorporation of European Company (Societas Europea);
  • Legal support to such entities after their incorporation, such as:
    • preparation of Boards of Directors or Shareholders’ resolutions;
    • legal advice on corporate matters;
    • issuance of Powers of Attorney and other legal documents;
    • ensuring that the entity complies with its obligations imposed by the Cyprus legislation;
  • Legal support to the Management of entities;
  • Secretarial Services;
  • Nominee Services (Directors, Shareholders)
  • Registered Office’ Services;
  • Entities’ Dissolution;
  • Opening and maintenance of bank accounts;
  • Other related services;

Generally, we provide legal support of any corporate law matters including but not limited to Cyprus companies formation and administration, assisting in incorporation and/or management of companies from other jurisdictions, legal support of transactions including incidental matters, drafting of corporate and commercial agreements and other relevant documentations.

 

Short Links for more information:

  • Article “Incorporation of a Private company limited by shares more info 
  • Incorporation of a Private company more info
  • Incorporation of a Public Company more info
  • Establishment of a Partnership more info
  • Establishment of a European Company more info
  • Incorporation of an Overseas company (branch, representative office) more info
  • Establishment of Foundations (Associations) more info

For any further information please contact us and we will be pleased to assist you.

 

 

Brief Introduction:

In Cyprus there are various ways to establish a business:

  1. Incorporation of a company under Cap.113 the Companies Act such as:

 

  1. Private Company (either limited by shares or by a guarantee)

Requirements for a Private Company limited by shares:

- Number of members is restricted to 50;

- There is restriction to the transfer of its shares;

- Should have at least one director and one secretary (unless the company has only one member, then the director can act also as the Secretary of the Company);

- Any invitation of the public for subscriptions to its shares or debentures are forbidden;

- There is not a minimal amount of the authorised share capital’s requirement;

- should contain a word “Limited” or abbreviation “LTD” in its name

 

 

  1. Public Company
  • Should have at least seven members;
  • Minimum authorised share capital’s requirement of EUR 25629 which must be fully paid up until the company commences its business;
  • May invite public subscriptions to its shares;
  • Freely transferable shares;
  • At least two directors;
  1. Private Company limited by guarantee
  • Liability of its members is limited to such amount as they respectively agree to contribute in the case such company is undergo the winding up procedure. Until that moment, no contribution from its members is required;
  • Such companies are normally used only for charitable or non-profit making purposes under section 20 of Cyprus Companies Law (Cap. 113);
  1. By establishment of a Partnership in accordance with a Partnerships and Business Names Law (Cap.116) as amended.

In Cyprus there are following forms of partnerships:

  1. General Partnership – all partners are general partners and have unlimited liability for all obligations of a partnership;
  2. Limited Partnership – there is at least one general partner which has unlimited liability and limited partners, liability of which is limited to the amount of their contribution.
  3. Limited Liability Partnership:
  • can be either legal or physical persons, maximum amount or partners is 100;
  • Should have at least one general or one limited partner.
  • can have a share capital;
  • Management cannot be performed by a limited partner, if he does he should also have an unlimited liability on all debt and obligations of the LLP. Limited Partner also cannot be authorized to bind the LLP;
  • Liability of a limited partner  is limited up to the amount which remains unpaid, if any, for the shares that they hold;

Partnerships are not considered to be separate legal entities so any profits generated by the partnership are considered as income received by the partners.   

  1. Establishment of a European Company or Societas Europea

The registration of a European Company is in accordance with the Council Regulation (EC) No. 2157/2001 and respective Cyprus legislation.

  • The main objective is to allow existing companies from different Member states to combine their potential by means of mergers, while avoiding the legal and practical constrains from the existence of different legal systems.
  • SE acquires a “separate legal personality”
  • SE must have a subscribed capital of not less than EUR 120,000
  1. Presence in Cyprus from abroad

A foreign company can establish its presence in Cyprus either through subsidiary or by establishing an overseas company (otherwise most commonly called “branch” or “representative office”).

An overseas company is established under Section 347 of the Companies Law, Cap. 113. Such registration does not create a separate legal entity.  

The most popular types of companies in Cyprus are as follows:

  1. The Holding Company
  2. The Finance Company
  3. The Intellectual Property Company
  4. The Ship Owning and Management Company
  5. The Investment Company

For any further information please contact us and we will be pleased to assist you.

 

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Monday - Friday
08:00-18:00

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