Cyprus: Directors and Officers

The company secretary in Cyprus serves as a mandatory officer for private limited liability companies, functioning as far more than an administrative role. This position bridges corporate governance, regulatory compliance, and operational efficiency, maintaining statutory frameworks while supporting directors in ensuring corporate actions are properly executed and recorded.

Companies in Cyprus, like elsewhere, may encounter financial or structural difficulties that make it impossible to continue operating. In such cases, the law provides mechanisms to bring the life of a company to an end in an orderly and fair manner.

Imagine operating a company, only to find without any warning that the company’s bank accounts have been blocked. The immediate consequence is one of acute disruption and uncertainty. You learn that a winding-up petition has been filed against the company, triggering restrictions that effectively prevent it from carrying out ordinary financial transactions. At that point, a pressing question arises: how is the business expected to continue operating under such constraints?

In the corporate system of Cyprus, one of the most important roles is that of the director of a company. This is evident in the Companies Law Cap. 113 (the "Law").

In the landmark decision of the Privy Council in Tianrui (International) Holding Company Ltd v China Shanshui Cement Group Ltd (Cayman Islands) [2024] UKPC 36...

A new amendment to Cyprus' AML regulatory framework has brought significant changes to the implementation of the Ultimate Beneficial Owner (UBO) Register and its related penalties, fines and deadlines.

On July 13th, 2023 the Advocate General (AG) of the Court of Justice of the European Union (CJEU) Juliane Kokott, in her opinion on the TP case (C-288/22), asserted that a natural person serving...

The structure of a company's board and the presence of a compliance officer are not mere formalities; they are essential components that drive the integrity, accountability, and success of a business.

The Cyprus Department of Registrar of Companies and Intellectual Property announced that it would be commencing the phased implementation of the final version of the new electronic Beneficial...