Following Brexit, it is no longer possible to use Regulation (EU) No 1215/2012 on the Jurisdiction and the Recognition and Enforcement of Judgments in Civil and Commercial Matters (recast) to recognise and regsiter UK judgment in Cyprus. Currently, those wishing to obtain recognisiton and enforcement of a UK judgment in Cyprus must revert to the previous legal regime, which has become relevant again.
A Cyprus company which has been struck off from the companies register, due to non-compliance with the Companies Law, can be restored and considered to have continued in existence as if its name had not been struck off, following either an application directly to the Registrar of Companies or by an application to the District Court.
The main organisational forms used for non-profit / volunteer organisations in Cyprus are associations/societies, foundations/institutions and non-profit companies. In certain cases and upon satisfying specific criteria, tax exemption may be obtained.
The procedure to be followed for executing a foreign judgment in Cyprus depends on the country where the judgment sought to be executed was issued. If a judgment was issued by the judicial authorities of an EU country (or Switzerland, Norway and Iceland), it can be recognised and enforced under EU regulations.
A Partnership is the relationship which subsists between two or more persons carrying on business in common with a view to profit. Partnerships are governed in Cyprus by the Partnership and Business Names Law, Cap. 116.
A Cyprus company which has been struck off the register can be reinstated, depending on the circumstances, either by an application to the Registrar of Companies or by an application to the District Court.
Strike-off procedure – A Cyprus Company may be struck off the Register either by a request of the directors or shareholders or involuntarily by the Registrar of Companies.