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Department of Registrar of Companies and Official Receiver
Initial and relevant obligations icon

Initial and relevant obligations

Objects

The objects of the company to be incorporated indicate the nature of business in which it intends to carry out its activities, legally, in the Republic of Cyprus.

Objects that are prohibited     

  • Objects that contradict with the legislation in force in the Republic of Cyprus.
  • Objects that fall within the ambit of other legislations that do not belong to the Companies Law e.g. union registration.

Objects for which permission, consent or pre-approval is required during the incorporation of a company

Depending on the nature of business, the following permission, consent or pre-approval is submitted (either during the name approval or simultaneously with the submission of the application for the incorporation of the company): 

Nature of business Competent authority

Provision of medical services

 Cyprus Medical Council

Provision of dental services

Cyprus Dental Council 

Provision of legal services

 Law Office of the Republic of Cyprus

Provision of administrative services

Cyprus Securities and Exchange Commission or

Law Office of the Republic of Cyprus

Note:

  • In the case of an incorporation of a company that is a subsidiary of a licensed parent company, it is required to provide a letter of confirmation.
  • In case the company to be registered falls under the exemptions of the Regulation of Administrative Services and Related Issues Law of 2012, it is required that a relevant confirmation/letter confirming this exemption is provided.

Provision of investment services:

  • Alternative Investments Funds (“AIF”) of the Republic – in the form of Fixed Capital Investment Fund Company or Variable Capital Investment Fund Company
  • Alternative Investment Funds with Limited Number of Persons ("AIFLNP ") Republic – in the form of Fixed Capital Investment Fund Company or Variable Capital Investment Fund Company
  • Undertakings for Collective Investments in Transferable Securities ("UCITS") – in the form of Variable Capital Investment Fund Company
  • Alternative Investment Fund Managers ("AIFM")
  • UCITS Management Companies (‘UCITS MC’)

 

 

Cyprus Securities and Exchange Commission (CySec) 

Note:

  • In the case of Companies with sole purpose the management of AIFLNPs, only a confirmation letter by CySec to the alternative investment fund is required.
  • In the case of Registered Alternative Investment Funds (RAIF), there is not an authorized licensing process from CYSEC and according to article 138 of the Alternative Investments Funds Law (N.124(I)/2018) the external manager of RAIF must submit all the relevant documents for its registration to CYSEC registry within one (1) month form the incorporation/registration of RAIFO to the Registrar of Companies.
  • Provision of Credit Services (Credit Institutions)
  • Provision of payment services (Payment Institution)
  • Provision of exchange services (Bureaux de Change)
  • Provision of electronic money services (Electronic Money Institutions)

 

Central Bank of Cyprus

Provision of higher education services 

Ministry of Education and Culture

Operation of casino

Ministry of Energy, Commerce and Industry

Operation of radio/television organisations

Cyprus Radiotelevision Authority

Provision of insurance and reinsurance services and related matters

 Superintendent of Insurance

Wine Production

Ministry of Agriculture, Rural Development and Environment

Note:

The license for the production of wine is secured via the Department of the Registrar of Companies before the company’s registration.

 

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