Sometimes, a company might want to change its business structure in Cyprus and is able to do so according to the rules and regulations offered by the local legislation. This can be achieved under certain circumstances. Foreign and national businesspersons interested in changing their legal entity of their businesses can be assisted by our lawyers in Cyprus.
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Even though the majority of companies registered in Cyprus do not require changing their business structure, this procedure can still be achieved under certain conditions.
One of the most popular legal business changes refers to the sole proprietorship, which is generally re-incorporated as a limited liability company.
A sole proprietorship is the most basic kind of company in Cyprus, since it is registered by private persons, who effectuate their activities in their own names, being personally responsible for the company liabilities.
Our Cypriot lawyers recommend business persons to effectuate this business structure change in Cyprus when the business is more developed and needs a more representative regulatory framework.
Selecting a limited liability company offers protection for the shareholder, since he or she will be liable for the company debts only in the extent of the owned shares. Our attorneys in Cyprus can offer more information on the advantages of a limited liability company in the country.
Regardless of the industry or type of business you operate in, our law firm in Cyprus is dedicated to offering the highest level of service possible. Our legal team includes lawyers with expertise in many different legal areas who are ready to provide clients with specialized advice and services that are catered to their needs, including company registration and litigation.
As a business develops, the needs of a company change as well. Here are some of the reasons why a company could wish to change its business structure in Cyprus:
If you would like to know more about how to change your legal type in Cyprus, or for assistance related to any legal issue in the country, we kindly invite you to get in touch with our Cypriot law firm.
Our law firm is available to you if you require assistance with document drafting and filing, including if you are a foreigner getting married to a Cyprus citizen. If you moved here with your spouse or partner, we could also assist you in obtaining the status of resident. Contact us for details on marriage in Cyprus.
If you wish to buy a property in Cyprus, we can also help. It can be challenging for a novice investor to buy a property in this area. There are several requirements, phases, and actions to follow, and you might be worried about making an expensive mistake. You may rely on our law firm in Cyprus to help you prevent it.