These days online services are in high demand. Remote services save a bunch of time and, of course, money. Services that are accessed through your personal computer allow you to work and travel around the world. Managing corporate affairs of a company online is an important benefit for every business.
Cyprus is one of a few countries that developed a web portal through which any user may order corporate-related services and file important documents. In this article we will describe a few functions that you can access through the Cyprus Registrar of Companies as a company owner or company registration applicant.
What is the Cyprus Registrar of Companies?
The Department of the Registrar of Companies and Official Receiver is the Cypriot governmental body under the Ministry of Energy, Commerce, Industry and Tourism.
The Registrar of Companies deals with registration of domestic, international companies, partnerships, as well as liquidation of such entities. Another important function is that it keeps updated files about all public details of Cypriot registered companies (whether it is active or struck off). Through the online database it is possible to find the most recent public information in relation to corporate details of each Cypriot company, such as shareholders and directors names, registered address, any claims against the company.
Which changes related to corporate information should be notified to the Registrar of Companies of Cyprus?
All changes related to the public corporate information of a company incorporated in Cyprus are subject to notification to the Registrar of Companies of Cyprus. Currently, the Cypriot government has specific rules related to notification deadlines for each change. As of the date of this articles, such term of notification is as follows:
|Subject of notification||Term for Registrar’s notification|
|Notification on allotment of shares||Within 30 days after the final date of the allotment|
|Notification on change of registered address||Within 14 days of such change|
|Notification on transfer of shares||Within 14 days of share transfer|
|Notification on change of director or secretary; details of authorized representatives of overseas companies and address of the overseas company’s place of business in Cyprus||Within 14 days of such change|
|Filing an annual report (HE32 Form)||Before 28 January of the following year|
It is important to keep track of these filing dates, as any late filing or failure to do so is subject to a penalty.
The above table of terms is a useful guideline for company owners as there are filings that you will submit on an annual basis. In particular, we refer to the annual report filing that can be submitted to the Registrar of Companies of Cyprus online. Late filing fee for annual report is €50 plus €1 per day during the first 6 months, thereafter €2 per day, but no more than €500.
Is it possible to search company name through the Cyprus Registrar of Companies web platform?
It is possible to search company name through the Cyprus Registrar of Companies web platform. Before you submit an application for company formation in Cyprus, it is important to conduct a search of already registered companies in order to make sure that your company name is unique. Otherwise, your registration application will be declined.
Though our website you can search company names and find updated information related to Cyprus company formation and many other jurisdictions.
These instruments allow you to easily check whether your desired name does not have any conflicts with existing names without hiring an agent. However, it is recommended to conduct search on registered trademarks and make sure your name will not infringe any intellectual property rights. For this reason, we also recommend using the services of professionals, such as Ecompany.ltd, to make sure that you have absolutely no risks.
Which services are available through the Registrar’s web portal?
Most of the services of the Registrar of Companies are available online in English, but another part can be used by Greek language speakers. This limits the ability to use this web portal by international companies, but still there are important sections that have English translation:
- Online search of names;
- Electronic filing of documents and forms for the registration of organizations, application for certified copies, application for approval of names, form for changing the particulars of registered companies;
- Confirmation of Authenticity of Certificates and Certified Copies.
Does it mean that I can operate my Cypriot company entirely by myself?
In most cases you will not be able to manage annual corporate duties without hiring a professional. For example, for the purpose of filing the annual return in Cyprus, you will need to attach the audited financial statements for a previous reporting year. It should be prepared by a certified accountant and auditor. Some services are only available in Greek.
Ecompany.ltd specializes in company formation in many countries across the globe, including Cyprus. Our key benefit is that we provide online business solutions: company formation and company management, accounting and legal services, translation and certification of documents. Please feel free to contact us with any questions you may have.