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.
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 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:
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.
There are no comments