Yes, it is a legal requirement for every limited company in Cyprus to have a company secretary. The secretary is a central figure in a company's governance and is responsible for a number of legal and administrative duties. The secretary can be a natural person or a legal entity. You can find a professional to help with this in our directory of Professional Corporate Services.

The main duties of a company secretary include maintaining all the company's official records, such as the minute books of board meetings, the register of directors and shareholders, and the company's legal documents. The secretary is also responsible for filing all the necessary documents with the Registrar of Companies and for ensuring that the company's board of directors and shareholders are aware of their legal duties and responsibilities. You can also get more help on Cyprus Company Registration in our guide.

Yes, a company's director can also be the company secretary, but this is not recommended. The roles of a director and a company secretary are distinct, and a person who holds both positions may have a conflict of interest. It is always best to appoint a separate person for each role to ensure a clear separation of duties and a better corporate governance. Our guide on Avoiding Double Taxation with a Cyprus Holding Company provides more detail.

Yes, the company secretary must be a resident of Cyprus to ensure that the company is managed and controlled from the island, which is important for tax residency. The company secretary is responsible for a number of legal and administrative duties that require a local presence. You can also explore our guide on Cyprus Company Formation Requirements for Foreigners.

The role of a company secretary is a legal requirement that is responsible for the legal and administrative duties of a company. An administrator is a person who is responsible for the day-to-day operations of a company. The roles are distinct, and a company secretary is a crucial part of the company's corporate governance. For more on the local business environment, you can check out our guide on Cyprus Shelf Companies.

A company secretary does not need any specific professional qualifications. However, it is highly recommended to appoint a professional who has a deep understanding of the local laws and regulations and a number of years of experience in the field. A professional will have the necessary expertise and knowledge to ensure that your company is legally compliant. You can find a professional to help with this in our directory of Professional Corporate Services.

The cost of a company secretary can vary greatly depending on the firm you choose and the services they provide. For a small, dormant company, the cost can start from around €500 per year. For a more active company, the cost can be much higher. The cost is a crucial part of the company's annual expenses and should be budgeted for. You can also get more help on Costs to Set Up a Limited Company in Cyprus in our guide.

The company secretary is responsible for maintaining all the company's official records, including the financial records. The secretary will work with the company's accountant to ensure that the financial records are well-maintained and in compliance with the local laws. This is a very important part of the company's legal and financial requirements. You can find a suitable accounting or auditing firm in our business directory.

Yes, many virtual office providers also offer company secretarial services. This is a great option for businesses that operate remotely and want a cost-effective solution. The virtual office provider will handle all the administrative tasks, such as mail forwarding and call answering, and the company secretarial services will handle all the legal and administrative duties. You can read our guide on Virtual Office in Cyprus for more information. You can also explore our business directory of all businesses on the island to find a good partner.

The legal framework for a company secretary is set out in the Companies Law, Cap. 113. The law is based on British Common Law and provides a clear and robust framework for corporate governance. The law outlines the duties, responsibilities, and legal requirements of a company secretary and is a crucial part of the local business environment. You can also get more help and information on our FAQ and Guides page.