Knowledgebase

The main criteria of review of the form Σ1 are:

• partnership name;
• partnership type (specify whether it is a general or limited partnership and the number of partners must be between 2-20);
• the place of operations in Cyprus;
• full details of the partners (in respect of a limited partner to note the amount of contribution);
• the date of commencement of operations (must be earlier to the date on which the application was stamped by the Department);
• the duration of the partnership has been determined and the partners that bind the partnership with their signature are specified;
• the names of the partners that bind the partnership with their signature are indicated;
• the nature of operations (must not be illegal and must be conducted in Cyprus);
• signature by all partners.

Most common reasons for rejection of the form by the examiner:

• the submitted form is not the statutory form.  The statutory forms are available on the Department's website and offices;
• failure to fill-in/submit the above details;
• failure to sign by all the partners;
• where the name of the partnership has not been approved.

For further information regarding the relevant procedure, you may refer to the incorporating a partnership page.