Cyprus: Directors and Officers

The UK Supreme Court has delivered a landmark ruling confirming that fiduciaries who secretly profit from their position hold those gains on constructive trust for beneficiaries from the moment of receipt. The decision establishes that third parties who dishonestly assist in dissipating such profits face full liability, even when beneficiaries suffered no direct financial loss and would never have generated those profits themselves.

A question we hear constantly from international clients is whether a Cyprus company managed from abroad actually saves tax when the owner lives and works outside Cyprus.

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.

Why Fiduciary Services Are The Key To Unlocking Cyprus Company Growth?

substance requirements for insurance agents and insurance brokers companies here in Cyprus As explained in many videos Cyprus is very relaxed as far as substance is concerned with these regulated activities...

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").

The directors owe a residual duty, said to be a duty "in equity" short of a fiduciary duty, to give to shareholders sufficient information for them to make an informed decision about proposals to be put to them at a company meeting.

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

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...