Company Secretary in CyprusUpdated on Monday 02nd November 2015
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The Cypriot company secretary
All companies fall under the regulations of the Cypriot Commercial Law which sets out the requirement to appoint a company secretary. In single member companies, the company secretary position can be occupied by the director of the Cypriot business entity. Company secretaries in Cyprus can be an individual or a legal entity. Just like any other officer in the company, the secretary position can be discharged by an employee and each change related to the company secretary must be announced to the Cypriot Companies Registry.
Appointing a company secretary in Cyprus
There are no requirements with respect to the nationality of the company secretary. The positon ca be filled by a non-resident or by a Cypriot resident. Upon the incorporation of the company, the secretary must be mentioned in the company’s Articles of Association and their details must be shared with the Companies Register. Also, according to the anti-money laundering regulations, the Trade Register must contain information about the company secretary’s address. The company secretary is appointed by a directors’ written resolution and can be replaced at any time. For more information about the appointment of company secretaries you can refer to our Cypriot lawyers.
The Cypriot company secretary’s duties
The principal duties of the company secretary are established by the Cypriot company’s Articles of Association. The Commercial Law also defines the role and responsibilities of the company secretary in Cyprus. The most important duty of company secretaries is the fiduciary duty. The main responsibilities of company secretaries in Cyprus are:
- - to maintain and update all company registers,
- - to prepare and lodge filings and minutes of the company’s meetings,
- - to keep the company’s seal,
- - to prepare the notices for board meetings or shareholders’ meetings,
- - to maintain the company’s statutory registers,
- - to issue share certificates,
- - to prepare and file annual returns and other financial documents with the Trade Register,
- - to prepare any other document required by the law.
The Cypriot company secretary may also sign statutory declarations on behalf of the company and authenticate documents.
For complete information about company secretaries you can contact our law firm in Cyprus.