COMPANY RE-DOMICILIATION (CONTINUATION) IN CYPRUS

This articles aims at providing a general overview of the aspects of re-domiciling a company to the Republic Cyprus and its benefits.

The Companies Law Act (Chapter 113) provides the key guidelines for the re-domiciliation of companies in Cyprus.  Re-domiciliation of a company in Cyprus is an attractive option especially for group of companies looking to expand their business globally.

DEFINITION

Re-domiciliation is the process through which a company transfers its corporate seat from one jurisdiction to another without being dissolved. Re-domicilng a company to another jurisdiction allows businesses to benefit from new jurisdiction's legal and economic advantages.

WHY TO CHOOSE CYPRUS

Cyprus offers a competitive tax regime, including a low corporate tax rate and an extensive network of double taxation treaties. Furthermore, the Companies Law Act (Chapter 113) provides a solid legal framework for businesses, guaranteeing protection of shareholder rights. Cyprus offers strong asset protection mechanisms. Our legal experts will ensure that your company's assets, investments and interests are shielded from potential risks. It is crucial to mention that since Cyprus is a member of the European Union (EU), it offers companies the access to a huge market and plentiful trade opportunities within the EU.

THE PROCESS & STEPS REQUIRED

The starting point for re-domiciling a company in another jurisdiction is to examine whether the legislation of the overseas company’s country of origin permits for such a transfer and that the company’s memorandum articles allow the possibility of the company’s continuation under another’s jurisdiction legal system. We, as a Law Firm may assist and confirm whether your company is eligible to transfer in Cyprus. Our legal experts shall guide you through the required process based on the relevant legislation.

We shall prepare all the requisite applications, gather all the necessary documentation and we shall communicate directly with the Registrar of Companies in Cyprus to conduct all the necessary steps and proceed with our application successfully. We may also assist you with any upcoming practical matters such as ongoing compliance, opening a bank account in Cyprus if needed, and offer legal services, such as a secretary or director, or registered office if required by Cyprus law.

Our Law Firm is well-equipped in offering legal services for companies that are willing to expand their business to other jurisdictions and re-domicile in Cyprus.