A shareholders’ agreement is an agreement entered into by the shareholders of company and which stipulates their respective rights and obligations. The shareholders’ agreement can regulate the shareholders voting rights, protect a minority shareholder`s interests and provide how a company is going to be run.
The Registrar of Companies and Official Receiver announced on the 15.03.2019 that following clarifications received from the Attorney General regarding Article 90 of the Companies Law, Cap. 113, charges relating to the pledging of foreign share certificates or the charges resulting from them, will be accepted for registration as was the practice previously. The announcement…
Following the implementation of Directive 2005/56/EC (Cross-border Mergers Directive) into local law by Law 2 of 186(I) of 2007, Cyprus Companies Law, Cap. 113 now provides the framework for cross-border mergers of limited liabilities companies, where at least one of the merging limited liability companies is a Cyprus company or where the limited liability company resulting from the cross-border merger is a Cyprus company.
A Cyprus company limited by shares or guarantee and having a share capital, may, if so authorized by its articles of association, increase its authorised share capital (Section 60 of the Companies Law, Cap 113).
A Cyprus company limited by shares or guarantee and having a share capital, may, if so authorized by its articles of association, reduce its share capital (Section 64 of the Companies Law, Cap 113). In order for a Cyprus company to reduce its share capital: (a) a special resolution must be passed in general meeting…
Section 64 of the Companies Law (Cap 113) provides that a Cyprus company limited by shares or guarantee and having a share capital, may, if so authorized by its articles of association, reduce its share capital. The reduction of share capital may, in certain circumstances, be used to: (a) return capital to the shareholders that…
Cyprus Companies Law, Cap 113 implemented Directive 2005/56/EC on cross-border mergers of limited liability companies (Cross-border Mergers Directive). Cyprus company provides the framework for cross-border mergers to occur between companies in Cyprus and companies from other EEA states.
Mergers result in the transfer of the assets and liabilities of one company to another and the dissolution of the first company without it going into liquidation. A merger between Cyprus companies is defined by section 30 of the Income Tax Law (Law 118(I)/2002).
The ECJ decided that a worker must be able to carry over and accumulate rights to paid annual leave when an employer does not put that worker in a position in which he is able to exercise his right to paid annual leave.
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.