What Memorandum of Association contains

 The Memorandum of Association is a statutory document of a company on the basis of which a company is established and is required for those who wish to form a new business in Cyprus. It provides specific objects a company is set for and governs the relationship between the company and the outside world.

The document provides regulations for the company’s business governance. Where a company set for general objects, activities of which do not require any kind of license from an authority or regulatory body, a private company with a share capital may be set, Memorandum of Association of which would provide for general company’s objects.

In principle the private company’s Memorandum of Association contains at least the following:

  1. Name of the Company;
  2. The Company’s objectives;
  3. A statement that the liability of the Company’s members is limited;
  4. The amount of share capital (provided that a company has a share capital) with which the company intends to be registered and its distribution and affiliation between the Company’s shareholders; and
  5. The shareholders’/subscribers’ to the Memorandum of Association particulars and their signatures opposite their names and, the number of shares held by each of them (given that a company has a share capital).
  6. Signatures of a witness and the lawyer who prepared the Memorandum of Association is required for completing the document.

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