Registering a company in most countries is always a long and difficult process. This is because of the bureaucratic and corrupt process. In many countries, especially those in emerging markets, you need to pay money and kickbacks to company registrars. In Cyprus, things are different as the process can be done online. Still, it is always necessary for you to have business lawyers like Pagecorp Group when registering a company there. In this article, we will look at some of the top reasons you need a business lawyer when registering a company in Cyprus.
Understand the Law
Cyprus is a member of the European Union. The EU is popular for its many regulations that are difficult to understand by many people. In 2018, the region passed the Markets in Instruments Directive (MIFID II) regulations. The regulation, which were more than a million pages long, were implemented to help protect investors in the financial market. They affected all businesses in the financial industry like banks and brokers. In the same year, the region implemented the General Data Protection Regulations (GDPR). These regulations targeted all companies that have a website. For a non-lawyer, these regulations can be difficult to understand. Therefore, these companies require a lawyer to help them ensure that they are operating within the law.
The process of registering a company in Cyprus is not very difficult. However, it requires a lot of care, especially when you are registering a big company. For this reason, it is very important that you use a lawyer or a company that has been in the business for a long time. This company will help you register the company faster. The lawyer will also help you come up with the memorandum of association and also do the registration itself. Also, the lawyer will also advise you on the best type of company. They can also sell you a shell company.
If you are a foreigner, you need to handle your immigration issues well. The best approach for you is to apply for the Cyprus investment passport. This passport gives you the ability to live and work in Cyprus. In the past decade, the country has welcomed more than a thousand people using this method. A good lawyer will help you handle this type of immigration. Similarly, if you have foreign employees, the law firm will help you have their information processed.
Like individuals, companies need face intense litigation all the time. They are often sued by their customers, competitors, activists, and even the government. Customers can sue because of a bad product while competitors can sue because of intellectual property infringement. Government can sue for taxes. When this happens, you need a good lawyer who can help you win the cases.
There are many corporate services that may force companies to have a lawyer. For example, your company may want to merge with another competitor. Your company may also want to acquire another company. It may also want to have an IPO or raise capital. When this happens, you will need a lawyer to handle these projects.
In summary, all companies need to have the best legal advice in Cyprus. There are other scenarios that they may need attorneys. Some companies may find it a bit easier to create their own legal departments. Others may want to hire external firms.