Business
The Companies Law Cap. 113, modelled on the English 1948 Act
The Companies Law, Cap. 113, is closely based on the English Companies Act 1948 and remains the foundation of Cypriot company law, heavily amended to implement EU directives. The private limited company by shares is the standard vehicle, registered with the Registrar of Companies.
Key rules
- Jurisdiction — Areas under the effective control of the Republic. The Commercial Court hears higher-value company disputes.
Governing law
- Companies Law, Cap. 113
- Law 148(I)/2018 — insolvency and examinership reforms
- Law 188(I)/2007 on Cyprus investment firms and the subsequent MiFID implementation
In practice
Because Cap. 113 derives from the English 1948 Act, English company law authorities on the equivalent provisions remain directly useful, which is a practical advantage for international practitioners. Incorporation requires name approval followed by filing of the memorandum and articles, and takes a matter of days. Cyprus has become a substantial holding company jurisdiction, driven by the tax regime and EU membership, and consequently faces intensive anti-money-laundering and substance scrutiny. The beneficial ownership register is maintained by the Registrar. The 2023 Commercial Court gives higher-value company litigation a specialist forum.