News and Publications

New practice on the protection of information

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Dear Clients/Colleagues

Our firm aims to keep you informed about recent developments in law and any other information we believe will hold your interest and affect your business conduct.

Cyprus has been an established business centre providing high quality services throughout the years. The authorities have been able to maintain the security of Cypriot Companies at high levels, in terms of information and execution of changes.

In order to further strengthen this, a new measure has been introduced and been in effect since the 1st of March 2013.

The Department of the Registrar of Companies has announced the implementation of a new practice regarding applications to file changes to in companies. This new practice will apply to forms for effecting changes in officers’ names and particulars, transfers of shares in private companies and changes of registered offices.

These kinds of forms should be accepted only if they are accompanied by signed certifications of the relevant changes, by the secretary of the company. In case there is an appointment of a new Secretary then the certification should include both the signatures of the new and the resigning Secretary.

This new practice adds an additional safeguard to an already established and trustworthy company law environment.

Please find the relevant announcement on the following link:

http://www.mcit.gov.cy/mcit/drcor/drcor.nsf/All/1E17D0A6F3916A4CC2257B4E00251797?OpenDocument

For more information do not hesitate to contact us.

Pelaghias, Christodoulou, Vrachas LLC.

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