In order for a company to be registered, the name under which it is proposed to be registered must have been previously approved by the Registrar of Companies and Official Receiver (hereinafter the “Registrar”) after submitting a relevant application.
According to the Companies Law Cap.113 the proposed name to be approved by the Registrar certain conditions must be met.
If the name is approved, then a name code is given to the applicant by the Registrar of Companies, which should be used when registering the company and which is valid for six months.
In case the company is not registered within 6 months from the approval of the name, the approval of the name can be renewed by applying to the Registrar (electronically, at the cash desk or by mail).
It is noted that the word Ltd/LTD or Limited/Limited should be written in the proposed name of the company.
What are the conditions to approve a proposed name?
- It should not be overly similar to an existing name
The proposed name to be approved, should not be too similar to an existing company/registered organisation name or existing trade name.
It is noted that the Registrar of Companies is not limited only to Cypriot companies/organisations, unless you can provide a letter of consent of an existing company/organisation/owner of the trade name.
The reason for the above prohibition is that using the name of an existing company/organisation/trade name would create the false impression to the public that they are connected when in fact they are not.
A name is considered overly similar when there is a striking or overbearing resemblance to the other name visually and aurally.
- It must not be misleading, suggesting something that does not correspond to reality
The reason for the above prohibition is to protect the public from any misrepresentation. Competent authority approval should be provided for certain names. If prior approval by a Ministry or other authority is required, this must be provided with the application, otherwise the name will not be approved.
Similarly, a name is not approved if it includes any of the following words “National”, “International”, “Republic”, “European Union”, “Europe”, “euro”, “International” except in special cases. Names must not include the word ASSOCIATE or the words PRIMARY, PRIVILEGE, or RECOGNISED. Names containing the following words will only be allowed if as the cases justify it: Bank, Banker, Investment, Trust, Insurance, Broker.
Names that imply a relationship with Ministry or Government Department or Municipal or other Local Authority or with any organisation or body established by Law or the Government of any foreign country, cannot be accepted unless it corresponds to reality.
A name is also considered misleading and is not approved if it indicates a company with limited resources is conducting work on a large scale or over a wide area.
A name is not approved if it includes the name and/or surname of a person other than the director, shareholder or owner (if it is considered misleading) unless there are good reasons for their acceptance.
- Not to be vague and descriptive
A name is not approved if it includes a general designation of the activity provided (e.g. financial, food) or quality (e.g. Goodenough, best etc.) or location (e.g. UK) if there is no distinctiveness in said name (i.e. there are no other words that give distinction to the name in question). Where such descriptive words are used in the name, small additions (e.g. initials or another word) should be present at the same time to avoid the possibility of confusion.
- The use of the name should not be a criminal offence and should not be offending
Names the use of which would constitute a criminal offence or are offensive (eg brothel, Stylish Bitch Ltd etc.) are not approved.
- The name must not contain symbols
Names that include symbols and punctuation marks are not approved (eg !, @)
How we can assist you
- Advisory for the selection of a preference name
- Research to the Registrar of Companies
- Submission of an application to the Registrar of Companies for the approval of a name
- Reservation of the preference name
Disclaimer
Disclaimer
This guide contains information for general guidance only and does not substitute professional advice, which must be sought before taking any actions.
