Closing a Business Entity
A company may cease its operations in the Republic of Cyprus either via voluntary strike off, or as a result of cross-border merger, or by transfer of its seat outside the Republic, or via involuntary strike off initiated by the Registrar of Companies for not complying with its statutory obligations under the Companies Law (e.g. filing of annual reports). Nevertheless, following its strike off from the register, a company may still be restored back to its original status.
In the event that a partnership ceases to conduct business, it must notify accordingly the Registrar of Companies. Additionally, in the event that the Registrar of Companies has reasonable cause to believe that the partnership does not carry out activities it may proceed to its strike off.
A business name can be struck off the Register either via notification from the owner that the business name has ceased to conduct business or by the Registrar of Companies if the latter has reasonable cause to believe that a business name does not conduct business.
In the event that a European company ceases to conduct business, it must notify accordingly the Registrar of Companies, in order for the latter to proceed with its strike off.