Cyprus Company News

Aristo Developers , the leading company in property development and construction in Cyprus, announced the opening of its new office in Cairo, Egypt. The launch of the Egypt office, which allows the company to further expand its international sales network of branches, took place on 9 March 2019. It was attended by Ambassador of Cyprus in Cairo Mr. Charis Moritsis, Director of Aristo Developers Mrs. Christina Aristodimou, Group Sales and Operations General Manager Mr. Tasos Stavrou, Business Development Representative of Aristo Developers in Cyprus Issam Nasser, as well as media representatives, VIP guests and renowned brokerage companies. Aristo Developers has a wide network of representative offices in Cyprus, Greece, China, Vietnam, Russia and UAE; the company continues its active expansion of international activities and attracts new buyers and investors in real estate.

The new amendments to the Cyprus Company Law took effect on 18 December 2018, having the purpose to make further modernization of the current legal regime. By the introduction of the amendments, late filing penalties are imposed, to encourage the submission of information on companies within specific timelines. Also, capital duty on the nominal value of the increase of company’s share capital is now abolished, encouraging the incorporation of companies and reducing the cost of doing business and creating prospects for new business and investments in Cyprus. The Registrar of Companies will be stricter in relation to the deadlines prescribed by the Law as certain time restrictions will need to be followed now. A clarification has been added to the strike-off procedure legislation, stating that before a company is able to proceed with its strike off, it must fulfill its obligations pursuant to the law, submit all of its annual returns, pay all relevant fees regarding keeping the comp...