With an announcement dated 31 May 2024, the Cyprus Registrar of Companies (the ‘Registrar’), clarified that as per the amending Cyprus Companies’ Law, which was published in the Official Gazette of the Republic of Cyprus on 15/3/2024, the legislation concerning the transfer of legal seat from one EU Member State to another is modified. The said legislation will from now one be known as cross border conversion.
The Companies’ Law already provided for transfer of legal seat, known as redomiciliation, for the transfer of registered office of a company in or out of Cyprus, from/to other jurisdictions either in or outside European Union. The redomiciliation provisions will remain available alongside the cross border conversion provisions, in cases where the latter would not be applicable, i.e. redomiciliation of a Cyprus company to a jurisdiction outside the EU and the opposite.
