Company Registry

According to the European Single Market exemption eu social taxonomy , individual taxpayers who do not avail part of the benefits of the Cyprus economy and enjoy no taxation advantages as a result of permanently residing in Cyprus for a period or more than a maximum period of provisions set out in the Revenue Law may be required to disclose or file a report for specific tax year. These reporting requirements are applicable to individuals and corporations which are threshold taxpayers.

Toward the end of 2011, these reporting requirements were brought into line with both the EU Directive and the Cyprus legislation authorizing the eu social taxonomy  of tax information and disclosure of factual and documentary evidence on individual lifestyle in exchange for tax exemption or reduced tax liabilities. Under the EU Directive, reporting is required to be reported by each Cyprus entity that is "responsible for activity in relation to business opportunities or to the conduct of business on behalf, or with the benefit of any other person, in a position involving management of the financial resources of the person or any other person." In other words, business organizations that are trading with other business organizations or with the financial institution are those for  eu social taxonomy reporting is mandatory. However, if these institutions transact business with individual taxpayers or individual taxpayers with no business or financial relations, these institutions do not require the report. The Cyprus legislation has no such exemptions at this moment. Tax evasion is a serious crime that is punishable by imprisonment. The EU Directive on business scope and the Cyprus legislation on personal taxes apply only to "trusted" companies (corporations or foundations).

The Financial Services Legislation has necessitated individuals to register with the Companies Registry of Cyprus on the second page of the application form together with provisions to  eu social taxonomy disclose business and personal financial information. All the large corporations have to provide confidentiality statements in relation to personal taxation matters. The Companies Registry provides for a central data retrieval system for business clients. All company organisations have registered with the Companies Registry. The Companies Registry maintains a database of company registration, as well as providing a website without charge that contains the contact details of each registration centre telephone number and website address. The Companies Registry has facilitated for companies who have registered with them to have ready access to their corporate database. The Companies Registry also generates a registration number that needs to be presented to eu social taxonomy when making application for registration with the Companies Registry.

The Companies Registry is an institute of the Ministry of Finance. The principle role of the registry is to provide for the framework of rules and regulations of banks and other financial institutions and bodies related to corporate restructuring, financial services, legislative and regulatory requirements, and professional accreditation. Business taxpayers and individuals have to submit information to the registry. In case the information is not submitted, it can be refused as law warrants. The Companies Registry thus maintains the database of business bodies eu social taxonomy. It permits registration only with the Companies Registry, as provided for by the Cyprus Law 6 of establishing a company. With a registered company, it is easier to conduct business transactions on behalf of the company. The Companies Regulations likewise establish the Companies Registry, which acts as an administrative authority. According to the Companies Regulations, registered companies are required to meet with the Companies Regulator at least once a year. The registration for tax purposes is not the only important consideration, such as Way saying or pressuring the government to regulate eu social taxonomy  the economic environment that the company is operating in.

Other Laws on Economic Legislation; Building Society, Savings and Investments Law, Commercial Banking Services Act; Promissory Note Agreements, Deposit and Resident Managed Services Agreements; Excompata Agreements, deposit protection agreement and risk-free insurance.

The Act, which is also known as the Companies (Compulsory Provisions) Law provides for registered companies special cession can organize their functions and fund raise on the basis of the belonging todays eu social taxonomy standards, provided that a company representatives and members of the board commit to the tied account.