The objects of an overseas company’s place of business indicate the nature of the work it intends to carry out its activities legally at its place of business in the Republic of Cyprus.
Objects that are prohibited
- Objects that contradict the legislation in force in the Republic of Cyprus.
- Objects that fall within the ambit of other legislation which 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 work |
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 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 exceptions of the Regulation of Administrative Services and Related Issues Law of 2012, it is required that a relevant confirmation/letter confirming this exception 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 a Companies whose sole purpose is the management AIFLNPs, only a confirmation letter by CYSEC to the alternative investment fund is required.
Note: In case of Registered Alternative Investment Funds (RAIF) there is not an authorized licencing process from CYSEC and according to article 138 of the Alternative Investments Funds Law (L.124(I)/2018) the external manager of the RAIF must submit the relevant documents for its registration to CYSEC registry within one (1) month from the date of incorporation/registration of the RAIF with the Registrar of Companies.
|
- Provision of Credit Services (Credit Institution)
- 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 secure via the Department of the Registrar of Companies before the company's registration.
|
