142 results found

When a company enters insolvency or its ‘'vicinity''[1], the fiduciary duties of directors are no longer owed to the company as a whole, and instead their duties shift towards the creditors.

Mr. Petros Ioannides, who has been appointed as liquidator (the "Liquidator") of the branch of FBME Bank Ltd in Cyprus (the "Branch") pursuant to the order 123/2019...

Cyprus companies with overdue annual returns and financial statements now have until 31 December 2026 to bring their filings up to date following the Registrar's extension announcement. Directors should work backwards from the filing date to identify missing records, reconcile balances, and complete financial statements, with transaction companies receiving priority attention. Missing filings can create immediate problems when businesses need finance, buyers begin due diligence, or groups plan restructuring

Cyprus, like most common law jurisdictions, recognises the concept of the shadow director.

In view of the above, a company is governed by the Companies' Law Cap. 113

Law firms face numerous challenges in navigating the intricacies of the latest sanctions imposed. As the consequences of non-compliance increasingly become more severe...

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.

Society is defined by The Societies and Institutions and other related Matters Law of 2017 (104(I)/2017), as amended (the "Law"), as an organised association of at least twenty (20) persons that is ...

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.

The first step to be taken when registering a vessel under the Cyprus flag is to set up a Cyprus Shipping Company, which will acquire the vessel on its name.

Cyprus was a British colony until 1960, when the island became an independent republic.

There have been significant discussions around the world on taxpayers' methods of minimizing taxes.

A client paying an annual fee for a Cyprus director may expect that fee to cover the director’s review of the company’s contracts. The provider may have quoted for the appointment alone, intending to charge separately for each transaction. Unless the terms explain this, the disagreement may only emerge when a contract is ready for signature.

According to section 125 of the Cyprus Companies Law, Cap. 113 (as amended) (the "Law"), each company must hold a general meeting of the shareholders every year, ...

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...

A Cyprus company is a limited liability company which conducts its trading and business outside the Cyprus and is intended for offshore activities.

The directors are agents of the company for which they act and they owe to the company fiduciary duties.