Tips & Notes
Main criteria of review for filing diversification of share capital
The main criteria of review of the form HE16 are:
- company name and number;
- clarification to the type of resolution (in case of amendment of classes, a unanimous extraordinary resolution is required);
- description of nominal, issued capital and shareholders before and after the amendment;
- in case of amendment in classes, consents from each class separately are attached, signed by all shareholders of each class;
- officer’s signature (in case where the officer is a company, the company seal is required).
According the case it is examined that the following documents have been attached:
- in case where the resolution is in another language than greek, a certified translation of the resolution, either by an affidavit or by sworn translator of the Republic of Cyprus, must be submitted;
- In case where a translation file in a foreign language has already been opened, a certified translation of the resolution, either by an affidavit or by sworn translator of the Republic of Cyprus, must be submitted in the said language, along with a corresponding fee of twenty euros (€20) for regular process and forty euros (€40) for accelerated process.
Most common reasons for rejection of documents by the examiner:
- the form submitted is e statutory form. The statutory forms are available on the webpage and at the offices of the Department;
- failure to complete/submit the above details.
For further information regarding the relevant procedure, you are advised to refer to the page Updating Share Capital and Shareholders.