Yes. A foreign company which is in good standing in its own country, can be re-domiciled into and become registered in Cyprus. Such continuation must, however, be allowed under the laws of the country of original incorporation. Most, but not all, countries allow their companies to be re-domiciled and continued in other jurisdictions. The continuation procedure itself is largely similar to a standard registration process for a new Cyprus company. The main difference is that a number of additional documents must be presented to the Registry in order to confirm the legal existence, good standing and proper decision of the foreign company to be continued as a Cyprus limited company. Such documents will specifically have to be obtained by the owner of that company, from its home jurisdiction. Therefore, the continuation process is not entirely automatic and requires certain input from the company owner. The company name should also be available in Cyprus, otherwise the “incoming” company will hve to change it’s name in the process to a name that is available in Cyprus. Name checks and reservations can be carried out in advance.
The end result of the continuation process is the alteration of the foreign company into a Cyprus company. The new Cyprus company would remains the legal holder of all assets and liabilities on balance sheet of the “old” company, the only difference is its country of registration, which would be Cprus instead of the previous jurisdiction.
