Cyprus Company – What Changes Can Be Done : After its registration a Cyprus Company can have as many changes as the owner would like. Changing its name after its formation is possible. Changing the name of a Cyprus company can be done at anytime. A new name is chosen, it is submitted to the companies registrar for approval. After it is approved an application is filed at Companies House for the change of the name of the company to the new one. A certificate of change of name is issued on payment of the prescribed fee. However all the following documents must by necessity also be changed for fresh ones:
- All certificates of incorporation.
- The Cyprus income tax registration.
- The Cyprus vat registration.
- The Bank account must be updated.
- The credit/debit card must be re-issued.
- The nominee trust must be re-issued.
- The nominee transfer of shares must be re-issued.
- The share certificate issued for a Cyprus company must also be corrected.
- The registers of members, directors and shareholders must be corrected.
For information on how to incorporate your company, procedures, costs, fees, benefits, taxes to be paid, vat registration, and the formalities for Cyprus Company incorporation follow this link:Cyprus Company Incorporation .
Cyprus Company – What Changes Can Be Done: Changing The Directors
Cyprus Company – What Changes Can Be Done: Changing the directors is possible and can be done at any time by a special resolution issued by the shareholders of the company. Such change of the Company`s directors must be notified to the Cyprus company registrar. This is done by filing a the the Cyprus company house of form HE 4 together with an application for the issuance of a new certificate of directors. The directors can determine the tax residency of the company. For a company to be tax resident in Cyprus, the majority of its Directors must be tax resident in Cyprus.
Cyprus Company – What Changes Can Be Done: Changing The Secretary
Cyprus Company – What Changes Can Be Done: Changing the secretary can be done at any time in the same way as done above for the director. By law a secretary for a Cyprus international company, must be a Cyprus tax resident person. A new certificate of directors/secretary will be issued.
Changing The Shareholders
A shareholder of a company in Cyprus after the company formation, cannot technically be changed. He cannot be removed or dismissed, like a director for example. A shareholder is the owner of the company so nobody can remove him. However if a change to the share structure of the company is made by increasing the capital for example, in that case we change the shareholders, by issuing new shares to a new shareholder, thus increasing the shareholders of the company . Also if a shareholder of a Cyprus company sells his shares, the new shareholder will be substituted for that of the existing shareholder so we have a change in shareholders. A new shareholders` certificate will be issued by filing with the company registrar form HE 57 together with an application for the issuance of a new certificate of shareholders. The necessary fee must also be paid at the offices of the registrar.
Changing The Registered Office Address
Cyprus Company – What Changes Can Be Done: The registered office is the official address declared in the records of the registrar, where the various Government departments can deliver notifications, such as the company registrar, the inland revenue department, the vat authority and of course for private persons or legal entities to deliver their notifications, or claims. or law suits. The registered office can also be changed at any time. A new R.O certificate will be issued on application to the registrar and the payment of the necessary fee.
Changing The Capital
Cyprus Company – What Changes Can Be Done: The changing of the capital of a company after it has been incorporated can be done in various ways.
- Increasing the existing capital without any charges in the rights of the shares can be done by a special resolution of the company, at any time. So the nominal or issued capital of the company can be increased from 1000 shares to 2000 shares or to a million shares.
- Reducing the capital of a company in Cyprus can also be done by resolution of the company but since it influences in a negative way the share capital and the rights of shareholders can be diminished it must be approved by the court!
- Changes also of the capital may involve the reshuffling of the rights attached to the shares, such as voting shares, non voting shares dividend bearing shares or not, preferential shares etc.