A new Law governing the provision of corporate, trust and fiduciary services in Cyprus voted by Parliament on the 12th December 2012
The Law with the title “The Regulation of Undertakings Providing Administrative Services to Private Companies and Related Matters Law of 2012”, also known as Fiduciary Law was voted by the Cyprus Parliament.
In order to issue and allot shares in a Cyprus company, the following procedures must be followed:
If the authorised capital of the Company is not sufficient to enable the allotment of the number of shares required, the first step is to increase the authorised share capital so as to be equal to the number of the shares to be issued. The increase of the authorised share capital is effected by an Ordinary Resolution of the General Meeting of the shareholders.
