Cyprus: Directors and Officers

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?

As a general rule, a company is recognised in law as a separate legal person, distinct from its shareholders and directors. This means that the company itself can own assets, enter into contracts...

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 16 December 2024, the Department of Registrar of Companies and Intellectual Property issued a public announcement on the significant changes to the framework governing the Beneficial Ownership Register.

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...

The option of voluntary winding up a company is afforded pursuant to Article 203 of the Companies Law, Cap 113 as amended from time to time (the "Law").