As from 28 July 2006 a new law has been enacted in Cyprus as an amendment to the Companies' Law Cap. 113, by which:

  • Foreign companies can be re-domiciled in Cyprus, and
  • Cyprus registered companies can be re-domiciled abroad

This enactment allows international investors and traders who own foreign companies to be re-domiciled in Cyprus and benefit from the favourable provisions of the Cypriot legislation and Tax system.

Prior to foreign company being re-domiciled to Cyprus, documents are submitted to the Registrar of Companies. Only when the Registrar of Companies is satisfied that the documents submitted are in accordance with the Law, it temporarily deposits the relevant documents and certifies that the foreign company is temporarily registered as a continued entity in Cyprus as from the date of such registration.

The foreign company as from the date of issuing of the temporary registration is considered as a legal person duly incorporated according to the laws of Cyprus and that is temporarily registered in the Republic for the purpose of the Companies' Law Cap 113, having the same liabilities as all other companies already registered in Cyprus and is eligible to exercise all powers that registered companies have according to the laws of Cyprus.

Within 6 months from the issuing the temporary registration certificate, the foreign company many must present to the Registrar of Companies evidence that it has been de-registered from the registry of the country where it was initially registered.

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