Running a company in Cyprus
Company management in Cyprus refers to the efforts and actions undertaken by the management board and other key individuals in the company in order to ensure that the company accomplishes its goals. The management plan can include planning, organizing, staffing the company with the right employees, leading and directing the activities in such a way that the company meets its objectives.
A company in Cyprus will have an organizational structure that clearly attributes managerial tasks to individuals who occupy positions in the management board or are company directors
. The Commercial Code and the Corporate Governance Code are also valuable resources for company management strategies in Cyprus
The management board in Cyprus
comply with a general rule which states that companies are managed by the Board. Single shareholder companies are managed directly by the Board while larger companies can have an appointed Chief Executive Officer (CEO)
who will be the delegate of the company director and will be accountable in front of the Board.
Companies in Cyprus have a one-tier board structure. The Board members are the company directors and the company secretary. A public company in Cyprus must have seven members. The Companies Law
does not stipulate that employees in Cyprus must be represented on the bard, however, they can have notification and consultation rights.
Cypriot business culture
The company director in Cyprus is the one who has to act in good faith on behalf of the company and in its best interests. He or she must act with due care and skill in managing the company and ensuring that the best decisions are made.
Business communication is important in Cyprus and the Cypriot believe in face-to-face communication. English is widely spoken and given the large number of foreign investors
in the country, business relationships are established easily between foreigners and natives.
If you are interested in investing in Cyprus and want to know more about doing business here, our Cypriot company formation experts
can help you with personalized advice for you and your company. We can also have you with company management
and corporate governance issues.
If you experience any legal issues in Cyprus or are interested in certain legislative matters, our partner lawyers in Cyprus
can answer your questions.