Course Content

UNIT 1: Introduction to Cyprus companies  

• Introduction of the course and explanation of organisation and obligations 

• Trainer introduction 

•  Student introduction 

• Introduction to Cyprus Companies 

• Types of Companies in Cyprus 

• Company Incorporation 

• Company Names - Practical Exercise: Incorporating a company 

UNIT 2: The language of company law - Who runs a company? 

• Areas of company law 

• Directors

• Company Meetings

• Company Finance – Case Study 

• Closing a company 

• Insolvent Companies 

UNIT 3: Memorandum and Articles of Association 

• What is a Memorandum of Association? 

• What are Articles of Association? 

• Amendment of Objects 

• Amendment of Articles - Group activity: Distinguishing between Memorandums and Articles of Association

• Amendment of Articles: Drafting specific provisions 

• Drafting activity

• Group Review and discussion of Drafting Activity 

UNIT 4: Organs of the Company 

• Shareholders - Directors & Secretary 

• Practical Exercise: Appointment & Resignation of Directors, resolutions & Form HE4 

• Ordinary and Special Resolutions 

• Group activity: Distinguishing between Ordinary and Special Resolutions 

• Drafting specific resolutions 

• Drafting activity 

• Group Review and discussion of Drafting Activity

 UNIT 5: Shares 

• Register of Members 

• Classes of Shares

• Practical Exercise: Register of Members entry 

• Transfer of Shares 

• Share Purchase Agreements 

• Drafting specific resolutions 

• Class activity: Completing Form HE57 

• Group Review and discussion 

UNIT 6: Management 

• Indoor Management Rule 

• Real, Apparent and Ostensible Authority

• Practical Exercise: Case study 

• Directors Duties 

• Case Study 

• Group exercise 

• Review and discussion 

UNIT 7: Members and General Meetings 

• Members and General Meetings 

• Types of General Meetings 

• Notices - Procedure for General Meetings 

• Proxies, Minutes & Resolutions 

• Class exercise 

• Review and discussion 

• Thought Shower 

UNIT 8: Minority Protection 

• The Rule in Foss v Harbottle 

• Exceptions to the Rule 

• Types of Suits 

• Case Study

• Introduction to Shareholders Agreements 

• Transcription of Shareholders Agreements into Articles of Association 

• Drafting exercise 

• Review and discussion 

UNIT 9: Capital - What is share capital? 

• Authorized & Issued 

• Increase of capital 

• Reduction of capital 

• Issuance of shares above par 

• Exercise: Completing Forms HE14 and HE12 

• Applying to Court for an extension of time 

• Applying to the Court for amendment of the register of members 

• Division & Subdivision, HE16 

UNIT 10: Changes 

• Change of Name Procedure 

• Compulsory Change of Name 

• Change of Registered Office, HE2 

• Transfer of Management 

• Group activity 

• Review and discussion of group activity 

• Resolution Drafting activity 

 UNIT 11: Due Diligence Exercises 

• What is a legal due diligence exercise? 

• Review of Internal Housekeeping 

• Review of internal appointments and procedures

• Review of register of Members 

• Drafting an executive summary 

• Group case study

• Drafting activity 

• Class discussion 

UNIT 12: AGMs and Annual Accounts 

• Annual General Meetings 

• Audited financial statements 

• Directors’ Report 

• Declaration of Final Dividend 

• Submission of annual return HE32 

• Review and discussion of group activity 

• Resolution Drafting activity 

• Class discussion

 UNIT 13: Powers of Attorney 

• What are Powers of Attorney 

• POA Drafting Tips 

• Group Drafting Exercise 

• Certification & Apostille, distinction from notarization -

• Revoking a Power of Attorney 

• Know-Your Client

• Drafting Exercise 

UNIT 14: Prevention of Money Laundering/Know-Your-Client 

• What is Money Laundering? 

• EU Directive 

• Anti-Money laundering legislation in Cyprus 

• Cyprus Bar Association Directive - Collecting and Verifying information 

• Documents for corporate entities and for individuals 

• Common corporate documents in other jurisdictions 

• Group Exercise 

UNIT 15: Nominee Shareholders and Trust Arrangements 

• What are nominee shareholders? 

• Drafting Declarations of Trust 

• Collecting and verifying KYC information 

• Determining the beneficiaries of a trust 

• Group activity 

• Discussion on activity

• Individual Exercise 

• Discussion 

UNIT 16: Certificates - Registrar Certificates

• Share Certificates 

• Secretary’s Certificates 

• Incumbency Certificates 

• Group activity 

• Discussion on activity 

• Practice: Drafting an incumbency certificate and secretary’s certificates 

• Group Exercise 

• Discussion 

UNIT 17: Substance 

• Management & Control 

• Creating Substance and why it is important 

• Ways to create substance 

• Corporate Governance 

• Local Directors 

• Physical Meetings 

• Group activity 

• Overview and Discussion 

UNIT 18: Transactions 

• Authorizing Transactions 

• Drafting Resolutions 

• Share purchases 

• Share purchase Agreement Closing Mechanics 

• Share purchase Agreement Conditions Precedent & Subsequent 

• Group Exercise

UNIT 19: Redeemable Preference Shares/Conversions of class 

• What are Redeemable Preference Shares

• How and when are they created? 

• Drafting RPS provisions in the articles of association 

• Share Classes 

• Conversion of Class 

• Group Exercise 

• Group Discussion 

• Completion of HE16 

UNIT 20: Dissolution

• Liquidation 

• Liquidation by the Court 

• Voluntary Liquidation 

• Liquidation under the supervision of the Court 

• Strike-off 

• Class activity 

• A brief summary of course material, Questions & Answers 

• Questionnaire and a closing discussion

SPECIMENS PROVIDED 

• Approval of name/change of name

• Memorandum & Articles of Association

• Appointment-Resignation of Director-Secretary

• Transfer of Shares

• Issue and Allotment of shares

• Indemnity

• Trust Deed

• Increase of capital

• Engagement Letter

• Transfer in/out

• EGM/AGM

• Reduction of capital

• Variation of class rights

• Due dilligence checklist/KYC

• POAs

• Liquidation-Strike off

Live distance learning via Zoom. This method enables the instructor to continuously assess the receptivity of the trainees and to be constantly updated accordingly. During the training, appropriate techniques will be developed and assist the subject of training. The lecture and the regular discussion challenge are the main pillar of the training techniques in this program.