Types Of Companies

Our firm may assist the client to establish various types of companies depending on their requirements:

Limited Liability Companies (LTDs)

Can either be public or private, depending on the types of shares and the size of the corporation.

A Limited Liability Company is the most common type of company used in Cyprus. It is founded by one or more partners of up to 50.

The shareholders subscribe shares (monetary or non-monetary), which are given a nominal value and cannot be transferred and in conditions of the share capital necessities, the private limited liability company has no restrictions in regard to the minimum amount of share capital.

The members of a private company limited by shares are liable to the company’s debts and obligations only to the extent of the nominal value of their shares.

The public company limited by shares functions the same as a private company limited by shares, except that shares are freely transferable and there are no restrictions as to the maximum number of partners. It must also have at least seven shareholders. The minimum share capital of a public company limited by shares is 25,650 euros.

Cyprus Companies of Foreign Interests

Foreign companies which may also establish a branch and representative offices, as well as subsidiaries to operate as extensions of the parent company. In this way, the client may establish a full substance and has the right to employ non-European citizens as an employee as well.

Partnerships in Cyprus

There are two types of partnerships accessible for registration in Cyprus which are the general and the limited partnership, which are not considered to be unconnected business entities from their owners. Both types require a minimum number of participants to be two and a maximum number of 20.

Companies by Guarantees

Company limited by guarantee (Clog) is a type of corporation used primarily (but not exclusively) for non-profit organizations that require legal personality.

A company limited by guarantee does not usually have a share capital or shareholders, but instead, there are members who act as guarantors of the company’s liabilities: each member undertakes to contribute an amount specified in the articles (typically very small) in the event of the insolvent winding up of the company.

This type is recommended to be used as a family foundation as well.

Sole proprietorships in Cyprus (self-employment)

This is a recommended business form for those who want to operate on their own as self-employed and operate as sole traders or businessmen.

These legal forms are available for any foreign company interested in entering the Cypriot market.

These can be set up as separate entities from the parent company (Cypriot companies having the foreign company as shareholder) or extensions of the parent-company in Cyprus. Also, subsidiaries are a popular option of entering the Cypriot market.

Establishment of Society

Non-profit organized association of at least twenty founders for the attainment of a certain non-profitable object. Establishment of such association can be realized through the related procedure at the district minister of councils.

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