Can a “Reverse Merger” Be Made Under Cyprus Law?
The term “reverse merger” refers to a reorganisation whereby a subsidiary company absorbs the assets and liabilities of its parent holding company.
Merger or Liquidation? Practical comparison under Cyprus Law
We are often approached by clients who wish to simplify their corporate structures, with the question whether it is best to opt for a merger between their group companies, or the liquidation of companies which no longer they wish to keep alive.
Why the Lebanese choose Cyprus
Cyprus has been considered as an attractive destination for investors, individuals and families through its competitive transparent legal, financial and regulatory framework as well as the advantageous tax policy combined with the strong banking system. The island has received a considerable inflow from Lebanese individuals, companies and families which are seeking to safe destinations outside…
Enclaved Purchasers
Transfer of a property in the name of an “enclaved buyer”. A new deadline is approaching. Did you know that the right of all purchasers who did not lodge and/or submit their sale contract or assignment agreement before the District Land Office lapses on 31.12.2022? The recent legislation is judged to be fair as it…
Real Estate in Cyprus
A. General Introduction Cyprus is a common law jurisdiction, and its legal system is based on the UK one. It is a clear and robust system which leaves no uncertainty as to the ownership status of real estate in Cyprus. The Land Registry Office in Cyprus (with district offices in each of the major towns…
Cyprus Insolvency Procedures
The Legal Framework Insolvency matters in Cyprus are governed by the Bankruptcy Law Cap.5, which deals with the bankruptcy of natural persons, and the Companies Law Cap.113, supplemented by the Companies (Winding Up) Rules and certain provisions of the Bankruptcy Law which regulate the insolvency of legal persons. In 2015 the Cypriot Insolvency Law has…
Removal of Liquidator in Creditors’ Voluntary Liquidation
Possibility to remove current liquidator and possibility to appoint an additional liquidator in the procedure of creditor’s voluntary liquidation. Based on Section 277 of the Cyprus Companies Law, Cap.113, the creditors and the company at their respective meetings may nominate a person to be liquidator for the purpose of winding up the affairs and distributing…
When Creditors’ Voluntary Liquidation is Appropriate
A company may enter into the procedure of the voluntary liquidation by its creditors when it cannot pay its debts. This procedure’s objectives are the distribution of the insolvent company’s assets between its creditors and the company’s dissolution. The directors of the insolvent company shall prepare a statement of their position on the company’s affairs,…
Re-Domiciliation Out of Cyprus
Procedure of re-domiciliation of a Cyprus Company out of the Republic of Cyprus. Application for re-domiciliation abroad A Cyprus company registered under the provisions of the Companies Law, Cap. 113 may apply to a foreign country to be registered and continue its existence under that legal regime provided that the following has been obtained: (a)…
Investor’s Disclosure
The conditions and circumstances under which the disclosure of information about the Investors / Unitholders of a Cyprus Alternative Investment Fund (AIF) is obligatory. The Cyprus Security and Exchange Commission (CySEC) is the regulatory authority responsible under the Law for the licensing and supervision of Investment Funds for both Undertakings for Collective Investment in Transferable…