at some time of your registration software, is banned (on PSC grounds) from coming into ports of any States celebration to your PSC MOU or is banned by a State from coming into its ports;

Directors need to be issue to re-election by shareholders at the primary once-a-year normal meeting right after their appointment and at intervals of no more than a few years thereafter.

stability administration process: An define of the corporation’s stability management technique, masking possibility assessment methods, incident reaction plans, and training programs for protection personnel.

adhering to the declaration of independence of Cyprus in 1960, many areas indicated a potential development within the economic pursuits of Cyprus just as much and provided that states within the international arena would do business Together with the new unbiased condition.

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A cargo declare might be, in respect of damage, sustained because of a breach of the agreement of carriage or perhaps a failure through the carrier to fulfil certain non-contractual obligations.

the corporate should get ready audited financial statements at the conclusion of Each individual fiscal yr. These are submitted on the Tax Office along with the tax return.

area 178 of the Companies regulation supplies that a director can be removed prior to the expiration of his duration of Workplace by a standard resolution with the shareholders notwithstanding something in its content of association or in almost any agreement among the company and also the director. The director has the proper to create representations, the two orally with the meeting at which the resolution is taken into account and in writing by an announcement, which the corporate is required to distribute to shareholders in advance from the Conference.

in accordance with the corporations regulation, just about every firm over a specified minimum dimension regarding turnover, belongings or employee figures is under the obligation to appoint an auditor to hold Workplace in the time period concerning the end of your AGM until eventually the end of the following AGM.

the necessities for a company in Cyprus contain an accepted enterprise name, a registered Place of work throughout the Republic, a memorandum and article content of Affiliation, at least one particular director and a person shareholder, and a secretary.

area 126 of the businesses Law presents that shareholders Keeping not less than ten% of your paid-up funds of the corporate with voting legal rights can ask for an extraordinary typical Conference to be convened.

The covid-19 crisis has resulted during the fast advancement of technological innovation while in the shipping and delivery sector and particularly in Cyprus. To that extent, the SDM, as the knowledgeable maritime authority built the ideal use from the digital technologies.

Subsequent appointments and removals of administrators will be regulated by the business's articles or blog posts of Affiliation. The default provisions contained from the specimen polices included in the Companies legislation will use When the content articles of association don't handle a selected problem.

greater than fifty per cent with the shares of the ship are owned by Cypriot citizens or by citizens of other EU or EEA Member States who, if not everlasting residents of Cyprus, have appointed an authorised representative in Cyprus; or