The Branch Structure in Cyprus
A branch can be established in Cyprus by an overseas company under the Cyprus Company Law Cap.113. The difference of branch and a company (subsidiary) lies on the legal substance of each entity. The branch is not considered as a separate legal entity, and in case of liquidation the parent company will be liable to settle the debts of the branch. As a result this type of structure is usually avoided.
The procedures for establishing a branch in Cyprus are the same with those opening a company, however the overseas company should submit additionally the following documents to Registrar of Companies and Official Receiver apostilled and legalised:
- Certified copy of its Memorandum and Articles of Association
- Details of its Directors and Secretary