Registration of a Branch in Cyprus
Under the law of Cyprus, namely chapter 113, section 347, of the Companies Act, a foreign company may register a subsidiary in Cyprus.
The procedure for registration of a branch is the same as for companies, but as an additional requirement each foreign company wishing to establish a branch in Cyprus must submit the following documents to the Registrar of Companies within one month from the date of foundation:
- a certified copy of the Memorandum and Articles of Association, as well as the Articles of Association or other document defining the Articles of Association of the Company;
- detailed information about the company’s directors and secretary;
- the name and address of at least one person residing in Cyprus who is authorized to accept service notices on behalf of the company.
With regard to the certification of the above documents, according to Cyprus legislation, the documents provided must be apostilled and notarized in the country of issue.
In case of registration of a branch of international business companies and partnerships, it is necessary that the branch manager and the foreign company provide – when registering a branch – a full set of documents, decorated properly and translated, if necessary, into English or any other language.
It should be noted that foreign companies, establishing a branch in Cyprus, must apply directly to the Department of the Registrar of Companies and the Official Receiver (Department of Registrar of Companies and Official Receveir) within one month after such establishment.
By registering a Cypriot subsidiary of a foreign company, no new incorporation is made, as there is already a registered company abroad which simply creates a business in Cyprus. The name of the branch coincides with the name of the foreign company.
Annual financial statements of the Cyprus branch of a foreign company.
The branch must submit to the Registrar of Companies a certified copy of the balance sheet and the profit report of the parent corporation, translated into Greek.
If you are interested in registering a branch of your company in Cyprus, FINWYN CONSULTANCY LTD lawyers will be happy to help you.