Navigate legalities in Cyprus

The Details of the UBO(s) of a Cyprus Company shall be confirmed every year during the period of 1st October to 31st December.

No, according to the Cyprus Registrar of Companies AML Directive, these Companies also have the obligation to submit the details of their UBO(s) into the UBO Register.

The below information shall be submitted into the UBO Register for a Company leading to a Trust or other similar legal arrangement:

• Name of the Trust/legal arrangement

• Registration number (if any)

• Country of Jurisdiction

• Nature and extent of the beneficial ownership (direct or indirect, through voting rights, through the exercise of significant influence or control by other means)

• Data of Natural Persons involved in the shareholding structure

• Date on which there were changes in the particulars of the Trust/legal arrangement or the date on which the natural person ceased to be a UBO for UBO Register submission purposes.

The below information shall be submitted into the UBO Register for a Company leading to a Foundation:

• Name of the Foundation

• Registration number (if any)

• Country of Jurisdiction

• Nature and extent of the beneficial ownership (direct or indirect, through voting rights, through the exercise of significant influence or control by other means)

• Data of Natural Persons involved in the shareholding structure

• Date on which there were changes in the particulars of the Foundation or the date on which the natural person ceased to be a UBO for UBO Register submission purposes.

Requirements for citizenship through residency include legal and continuous stay, language proficiency, and financial stability.

Under Companies Law, Cap. 113, shareholders have the right to:

Voting: Vote on director appointments, mergers, and Articles of Association changes.

Meetings: Attend general meetings and request an EGM (if holding 10%+ voting rights).

Dividends: Receive declared dividends.

Records Access: Inspect financial statements and company records.

Share Transfers: Transfer shares (subject to company rules).

Pre-Emption Rights: Buy new shares before they’re offered to others (if applicable).

Yes, registered shares can be pledged as loan security. To be valid, a pledge agreement must:

• Be in writing.

• Be signed by the pledgor before two witnesses.

• Be recorded in the company’s share register.

• Deliver the original share certificate to the pledgee.

Yes, provided the destination country allows it, and approval is obtained from the Cyprus Registrar of Companies.