A partnership is registered with the Registrar of Companies under the partnership Law. The procedure for the formation and registration of a partnership in Cyprus is uncomplicated and is effected with the submission of a return to the Registrar containing the name, object and duration of the partnership, as well as the name, addresses and passport numbers of the partners and their authority to bind the partnership. In the case that the non-resident partners intend to reside in Cyprus, work permits issued by the Immigration Department are also required to be filed with the Registrar before the partnership is registered.
Period needed and certificate of registration
The formation and registration procedure and various administrative matters such as printing of partnership letterheadings and opening of the required bank accounts, can normally be completed within a period of two weeks. The Registrar of Companies, on satisfying himself that the appropriate documents have been lodged and are in order, will issue a certificate of registration.
It is advisable to ensure that the partners are provided with full partnership documents upon the registration of the partnership. These documents should be properly legalised and translated where appropriate, from Greek into English or any other language. These documents normally comprise:
- Certificate of registration
- List of partners and their authority to bind the partnership