Legal Forms


Limited Liability Company

The Law in Cyprus governing limited liability companies is the Companies Law, CAP 113 which is based on the companies ACT 1948 of the United Kingdom.

The majority of companies incorporated in Cyprus are limited liability where the liability of the shareholders is limited to the amount unpaid on their shares. Companies must have at least one director and a company secretary. Directors are considered employees of the company and are paid salaries. In some cases directors may be shareholders as well thus can choose to some extent to be remunerated by salary or by a way of dividend. The constitution of a registered limited company consists of two documents the Memorandum of Association and the Articles of Association.

In order to establish a company in Cyprus the shareholders must file with the Registrar of Companies the documents listed in “Documents for company registration”.

Limited Liability Companies which are public or which prepare consolidated financial statements must file their accounts with the registrar of companies within 12 months of their year end. Also all Limited Liability Companies have to file the special form “IR4” which includes information on the financials and tax computations to the Inland Revenue within 6 months from their year end.

Limited Liability Companies will prepare accounts usually for 12 months with a year end at 31 December.

Limited Liability Companies which are public also have to conform to Stock Exchange regulations.