Cross-Border Reorganizations – general guidelines on completion

After the negotiation of the terms of the merger are completed the following formalities and steps for the completion of the merger need to be done all in compliance with effective local legislation and EU Directive on Cross-Borders Mergers:

  • Drafting of a Merger Plan;
  • Drafting of the merger Directors’ Report;
  • Preparing an independent Expert Report (if applicable);
  • Submitting the Merger Plan to the Department of Registrar of Companies and Official Receiver (the “DRCOR”) along with relevant notices and Forms of the DRCOR;
  • Arranging Publication of the merger draft plan in the manner prescribed by the Law;
  • Providing the merger report to the employees and members of the Cyprus merging company;
  • Approval by the general meeting of each of the merging companies of the merger draft plan;
  • Liaising with creditors (where applicable);
  • Filing a Court Application along with sworn statements (Affidavits) for obtaining a Court Order for the pre-merger certificate issue;
  • Second Application filling with the competent Court for the scrutiny of the merger.

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