Guidance

Updating Directors and Secretary

The officers of an overseas company that maintains a place of business in the Republic of Cyprus are responsible by law for the management of the company and the keeping of the accounting books that are important for the preparation of financial statements.

Following its registration, an overseas company may proceed with changes in relation to its officers such as appointment, resignation/termination and changes in regards to an officers’ details, e.g. change of name and address.

What are the prerequisites for someone to be appointed as officer?

A company must submit notify the Registrar of Companies of any changes regarding its officers or their personal details by submitting (form AE5) within fifteen (15) days from the date of change.

As at 18/12/2020,filing the above mentioned form beyond the fifteen (15) days, from the date of change, is subject to a late filing fee not exceeding the amount of fifty euros (€50) upon the first day of non-compliance and a further charge of one euro (€1) for every day the failure to comply continues, up to the maximum amount of two hundred and fifty euros (€250).

Registering change

You can submit the notification of change in officers of an overseas company or to their personal details (form AE5), by hand/post, accompanied by the fee of twenty euros (€20) and in the case of the accelerated procedure an additional fee of twenty euros (€20) (payable in cash, by cheque, withdrawal via an account maintained in the Department of the Registrar of Companies or via bank transfer).

An overseas company must have only one secretary for its place of business in the Republic of Cyprus.

You are advised to refer to the Explanatory Notes, so as to acquire for a better understanding of what is the required information and to facilitate the process.

Provided that the Registrar of Companies is satisfied that all relevant to the circumstances legal requirements have been met, he will proceed with registering the change of officers and the updating of the companies register.

In the event that the overseas company requires proof of the change made in the companies register, it may submit request to obtain certified copies of the change.

The redesigned form AE5 has been implemented as from December 6th, 2021.