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One of the general duties of Directors is to avoid any conflict of interest between them and the company. If there is, such an interest needs to be disclosed. Directors cannot benefit personally from a transaction of the company.
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Frequently Asked Questions on Cyprus Companies - What should happen if there is a conflict of interest between the Director and the company?
Article Index
- Frequently Asked Questions on Cyprus Companies
- What are the consequences of a limited liability company?
- What are the benefits of incorporating a company in Cyprus?
- What is the procedure which has to be followed in incorporating a company in Cyprus?
- How long does it take for a new company to be registered?
- Do I have to be present in order for my company to be registered?
- What is the difference between a Shareholder and a Director?
- Who can be a Shareholder and a Director?
- What is the difference between Authorised Share Capital and Issued Share Capital?
- Are there any minimum Share Capital requirements for a Cyprus company?
- Does the Share Capital have to be paid at the Companies Registrar upon incorporation?
- Are company documents in the Registrar open for public inspection?
- What information may be disclosed about a company?
- What is a ‘nominee Director’?
- What is a ‘nominee Shareholder’?
- What certified copies may be requested from the Registrar of Companies?
- What is a registered office?
- What is a Certificate of good standing?
- What is the difference between notarisation and apostille?
- What is a Double Taxation Agreement and how does this affect a company?
- Are financial statements mandatory under Cypriot legislation?
- What are the VAT requirements for Cyprus resident and Cyprus non-resident companies?
- Can a bank account be opened for a Cyprus company outside Cyprus?
- Can a bank account be opened in Cyprus?
- How can a Director be removed?
- What is the purpose of General Meetings?
- What should happen if there is a conflict of interest between the Director and the company?
- When is a Director restricted from selling or purchasing company shares?
- Does the company need to hold an Annual General (Shareholders’) Meeting (AGM)?
- How can minority Shareholders be protected?
- How is a Cypriot company dissolved?
- All Pages
