Company Formation Cyprus

CHECK COMPANY
NAME AVAILABILITY (Step 1)



Articles

Changing Your Business Structure in Cyprus

Updated on Thursday 12th May 2016

Rate this article
5 5 1
based on 0 reviews


Changing-Your-Business-Structure-in-Cyprus.jpgWhen opening a business in Cyprus it is important to know that, according to the rules and regulations provided by the Cypriot legislation, the company can change its business structure if, of course, several conditions are met. It is recommended to change the business structure of the company when its current legal statute limits the development of the business. Foreign and local entrepreneurs who are interested in changing the legal entity under which their business is carried out can receive assistance of the matter from our team of Cypriot company formation specialists
 

Changing a sole proprietorship into a Cypriot limited liability company 

 
Although most of the businesses incorporated in Cyprus do not require changing their legal entities, the procedure is still applicable in several cases. One of the most common legal entity changes refers to the sole proprietorship, which is usually re-registered as a limited liability company. A sole proprietorship is the simplest type of business in Cyprus, as it is incorporated by a natural person, who will carry out various business activities in his or her own name (and who is personally responsible for the liabilities of the company). 
 
The change is recommended when the business is developed and requires a more representative regulatory framework. Choosing a limited liability company (LLC) provides protection for the shareholder, as he or she will be responsible for the company’s debts only in extent to the shares owned in the business; our team of Cypriot company incorporation agents can provide more information on the advantages of a LLC in Cyprus
 

How to change a legal structure in Cyprus 

 
In order to change a legal entity with another one, the investor will have to de-register the current entity and to register it again, under the new structure. Companies in Cyprus are registered at the Registrar of Companies and any other changes that may occur during the lifetime of the business will have to be reported at this institution. 
 
Persons who need further information on the changes available for legal structures in Cyprus can contact our team of Cypriot company formation representatives
 

Comments

  • Mary 2016-05-10

    It is good to know that the local legislation provides this legal option. Can you tell me what is the percentage of companies that changed their business forms in Cyprus?

Comments & Requests


Please note that client queries should NOT be posted here but sent through our Contact page.

Meet us in Larnaca

Call us now at +357 24 656 406 to set up an appointment with our consultants in Larnaca, Cyprus. Alternatively you can incorporate your company without traveling to Cyprus.

We offer:

- cost-efficiency: competitive company formation prices;

- prompt response to your inquiry (maxim 24 hours);

- free and complete legal information featured on our site, at your disposal.

Tax Calculator

tax-calculator-cyprus

Testimonials

Francesco-Dagnino.jpg

The team of experts at OpenCompanyCyprus.com offers high quality company formation services. I would definitely recommend them to any investor interested in opening a company in Cyprus.

Francesco Dagnino, Partner of
Lexia Avvocati
www.LawyersItaly.eu

Read more testimonials

We Recommend ClientPedia

This website is marketed by ClientPedia

Banner-Promoting ClientPedia-244px.jpg

We accept online payments

paypal-logo.png