Which is the key piece of legislation governing cypriot limited companies?
The cypriot companies, both private and public operate under the provisions of the Cyprus Companies Law, Cap. 113, which is based on the old 1948 English Companies Act, but which has since been modified to incorporate EU legislation requirements.
What is the liability of a shareholder of a cyprus limited company?
The liability of the company is restricted by its assets. Persons dealing with the company may not have recourse to the assets of the shareholders (“members”) of the company who are liable only to the extent of their contribution to the capital of the company. The Court may, in extremely rare instances, lift the corporate veil and allow such recourse.