ER Team News

17
Jan2019
ShareholdersRights

Cyprus Company Shareholders

Cyprus Company Shareholders Rights

Anyone can be the Shareholder of a Cyprus Company. At the time of the Incorporation of a Cyprus Company the first Shareholders must be declared in the Memorandum. The usual type of company preferred by businessmen is the private liability company limited by shares. For information on the capital of a Cyprus IBC company click this link. For details and information for the Cyprus Company Registration follow this link.

By the Cyprus Company Law, Cap 113, a private company limited by shares can have a maximum of fifty shareholders. One share can be owned by more than one shareholder. This way the number of shareholders can be increased. A Cyprus IBC Company can accept Nominee Shareholders. For private companies it is forbidden to issue an invitation to the public to buy shares of the company.

Shareholders Powers

The Shareholders of a company are the `owners` of the company in all the sense of the word. They have the right to be invited to the General Meetings of the company. They also have the right to vote at the General Meetings of the company.

They have the power to dismiss the Directors and the Secretary and to appoint others in their place. They have the power to call a dividend from the profits of the company. They can also increase the Capital of their company and make other changes to the capital such as split the shares or fuse them into fewer shares. Their powers are unlimited.

A shareholder can of course sell his shares. That can only be done according to the provisions of the Memorandum and Articles of Association of the Company. If the company issues new capital usually the existing shareholders have the right to buy these shares first. If any shares remained unclaimed then the Directors can sell them to other interested parties. Nominee Shareholders have the same rights and liabilities to the company as the Real Shareholders.

If you need more information on the issue of Cyprus Company Incorporation please get in touch at this email: eugero@cytanet.com.cy   

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