The main organisational forms used for non-profit / volunteer organisations in Cyprus are associations/societies, foundations/institutions and non-profit companies. In certain cases and upon satisfying specific criteria, tax exemption may be obtained.
The procedure to be followed for executing a foreign judgment in Cyprus depends on the country where the judgment sought to be executed was issued. If a judgment was issued by the judicial authorities of an EU country (or Switzerland, Norway and Iceland), it can be recognised and enforced under EU regulations.
A Partnership is the relationship which subsists between two or more persons carrying on business in common with a view to profit. Partnerships are governed in Cyprus by the Partnership and Business Names Law, Cap. 116.
A Cyprus company which has been struck off the register can be reinstated, depending on the circumstances, either by an application to the Registrar of Companies or by an application to the District Court.
Strike-off procedure – A Cyprus Company may be struck off the Register either by a request of the directors or shareholders or involuntarily by the Registrar of Companies.