Introduction to Cyprus Companies Law & Practice

Price

€156 + VAT

Total Hours

40

Course Description

Corporate Law is one of the most sought out specialisations of law in Cyprus. The number of candidates who prefer to pursue corporate law (either as a lawyer or administrator) has seen unprecedented growth in the last few years. 


The study of corporate law comprises the practices, rules, and regulations that govern the operation as well as the formation of corporate firms. In a nutshell, corporate law deals with owning, forming, managing, and operating an organisation. 


There are many benefits to studying a course regarding the practical application of the law. 


It is an excellent addition to your CV - especially with so many employers requesting experience with the practical side of company law. A qualification like this will help to prove to a prospective employer that you will be able to hit the ground running!

Course Accreditation

The course is accredited and funded by the HRDA and offers 12 CPD points.

Funding Available

€780 + VAT full price. If you are eligible for HRDA funding: €624 funded and your employer only pays €156 + VAT on the full amount

Start Date

15/02/2022

End Date

26/04/2022

Dates and Times

Dates: 15/2, 22/2, 01/3, 8/3, 15/3, 22/3, 29/3, 05/4, 21/4, 26/4

Times: 16:00-20:00

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

Language of Instruction

English

Course Methodology

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.

Trainer

Georgia Onoufriou, LLB, MSc, ADVOCATE

Admission Requirements

You must be a lawyer, a corporate administrator, a compliance officer, a compliance assistant or work in a profession in the corporate sector

Discounts/Offers Applicable

- 30% discount on all courses for Civil Servants
- 50% discount for members of the Cyprus Police Force and Army
- 40% discount for trainee lawyers and law students
- 40% discount for private sector employees who do not qualify for funding with the HRDA.

Who is the course aimed at

Lawyers, Corporate Administrators, Compliance Officers, Compliance Assistants, other professionals working in the corporate sector

Certificate Awarded

A Training Certificate will be awarded to those participants who will successfully complete the training. The Training Certificate, at the bottom, will state: "The program was approved by the Human Resources Development Authority".
The certificate will indicate the total CPD points awarded.

Application Procedure