Reserving a Company Name in CyprusUpdated on Monday 19th December 2016
based on 0 reviews
What are the main steps for company incorporation in Cyprus?
There are three main steps to be completed when registering a company in Cyprus:
- - selecting a company name and submitting it for approval,
- - selecting the main business objective of the company,
- - submitting the application for registration.
All documents must be submitted with the Cypriot Companies Register.
Company names in Cyprus
Cypriot companies are required to have a business or trade name before starting their commercial undertakings. Business names in Cyprus are registered according to the Partnerships and Business Names Laws. Both companies and individuals are allowed to register trade names in Cyprus. An individual or legal entity applying for trade name registration must first file an application with the Registrar Companies’ Office for approval. The business name reservation in Cyprus has a six-month validity period, time in which the applicant may submit the rest of the documents for company registration. Also, the Trade Register will keep the business name in its archives until the Cypriot company is dissolved and an application for removal is submitted.
Below, you can watch a short presentation on the main steps referring to how to reserve a company name:
The characteristics of business names in Cyprus
Company name registration is quite simple provided that the applicant has chosen the appropriate name, which is why our lawyers in Cyprus always advise clients to choose at least three names for approval. An appropriate company name in Cyprus must be unique otherwise the Trade Register will not consider the application. Company names in Cyprus must also not be offensive, deceptive and must not imply a relation with the government. The Companies Registrar usually approves trade names containing the appendix “national” or “international” in special cases. A company’s name is also required not to use words like “cooperative”, “municipal” or “privileged”. It takes about 10 working days for a business name reservation to be considered by the Companies Registrar in Cyprus. The applicant must file the trade name registration form EE1 personally or by email after paying the registration fee. The complete business registration procedure may take about one month, but under an accelerated procedure, the registration will take one week.
For information about the fees to be paid upon business name reservation please contact our law firm in Cyprus.