Northern Cyprus corporate advisory.
In a Free Port and Zone company, changes of shareholder, director and address are subject to registration. Notifications, the annual return and company records are followed by the team that carries out the formation.
- Changes of director and address are notified within 14 days
- We have our own offices in Dubai, the United Kingdom and Northern Cyprus
Situations Where the Service Is Required.
Every procedure affecting the company's registration falls within this service. The six most common situations:
Change of director or secretary
The change is notified to the Registrar of Companies within 14 days.
Shareholder entry or exit
The company must have at least two shareholders; where a shareholder is foreign, the blocked capital requirement is reassessed.
Capital increase
A resolution is passed and registered; if a permit is required, you are informed before the application.
Change of registered address
The company must have a registered office; a new address is notified within 14 days.
Considering a second country
We have offices in three countries; we assess the country suited to your activity together.
Closing the company
Closure takes place through voluntary liquidation; the balance sheet and annual returns must have been filed beforehand.
Company Structure Suited to Your Activity.
A single company structure is suitable for most activities. A second country is added to the structure only where your activity requires it.
Shareholders, director and secretary
At least two shareholders are required; there is no nationality restriction. There must be at least one director and a separate secretary.
Capital and blocked amount
An amount equal to the foreign shareholder's share is blocked at the bank; the block is lifted after registration.
Tax is assessed separately
The exemption applies to activity within the Free Port; general rules apply to sales in the domestic market.
Service Scope and Limits.
Our services fall under three headings: structure planning, change notifications and annual records.
Structure and planning
- Shareholder, director and secretary structure
- Capital and blocked amount plan
- Structuring of international activity
- Assessment of a multi-country structure
Change notifications
- Change of director and secretary
- Change of shareholder and share transfer
- Capital increase
- Change of registered address
Annual records
- Following the annual return
- General meeting resolutions
- Preparing resolutions
- Planning the liquidation process
Outside our scope
- Official fees are shown on a separate line in the quotation
- The bank account decision rests with the bank concerned
- Legal representation and litigation
Changes and Their Registration.
The process has three stages: the company resolution, the official application and registration.
- 14 days
Director and secretary
Appointments and resignations are notified to the Registrar of Companies.
- 14 days
Registered address
If the company's registered office changes, the new address is notified.
- Blocked capital requirement
Change of shareholder
The new shareholder's documents are prepared; where the shareholder is foreign, the blocked amount arises in proportion to their share.
- Every year
General meeting
The annual general meeting is held; resolutions are recorded.
- 42 days
Annual return
After the general meeting, it is filed with the Registrar of Companies.
- Returns first
Voluntary liquidation
The liquidation resolution is announced in the Official Gazette within 14 days.
Annual Corporate Calendar.
These obligations continue even if the company is dormant; we follow the dates on your behalf.
- April
Annual accounts and filing
Even if the company is dormant, the annual accounts are prepared and the return is filed in April.
- Every year
General meeting
The annual general meeting is held; resolutions are recorded.
- 42 days after the general meeting
Annual return
The return is filed with the Registrar of Companies after the general meeting.
- 14 days after the change
Director, secretary and address
Notified separately when a change occurs; the year end is not awaited.
- When a change occurs
Shareholders and capital
When a foreign shareholder joins, the blocked capital requirement is reassessed.
Our Way of Working.
The process has five steps. The registration decision rests with the official authority; preparation and follow-up are carried out by us.
Assessing the current position
The company's current record, the change to be made and the reason for it.
Identifying the required procedure
The required notification, whether a permit is needed and the start of the period are determined.
Preparing the resolution and documents
The resolution and application documents are collected in a single list; you are invited to sign.
Carrying out the application
Correspondence with the official authority is handled by us; the outcome is determined by the authority.
Updating the records
The new company documents are delivered to you; the company's records are also updated.
Related Services.
A change in structure often affects accounting, tax and banking processes as well.
Frequently Asked Questions.
It covers the structural procedures of a Free Port company after formation: changes of director, secretary and shareholder, the registered address, the general meeting, the annual return and resolutions.
No. A Free Port company is formed with at least two and at most fifty shareholders; there is no restriction on the nationality of shareholders and directors.
Yes. Every shareholder who is not a Northern Cyprus citizen is treated as foreign. An amount equal to the foreign shareholder's share is blocked at the bank, and the block is lifted after registration.
The change must be notified to the Registrar of Companies within 14 days. The resolution and the notification are prepared by us.
The annual return is filed within 42 days of the general meeting. Even if the company is dormant, the annual accounts are prepared and the return is filed in April.
The company is closed through voluntary liquidation. All balance sheets and annual returns must first have been filed; the liquidation resolution is announced in the Official Gazette.
Not by itself. The exemption applies to the earnings of activity within the Free Port; if profit is transferred to your country of tax residence, that country's rules apply.
No fixed price is stated, as the scope varies with the procedure. After a meeting, a quotation is provided, with official fees shown on a separate line.