Compliance - Company Administration


Company Administration:

A company registered in Cyprus has certain annual requirements and obligations.  Our role as company secretary is to ensure that these requirements are complied with.

  • Compliance includes keeping company registers up to date, assistance with drafting resolutions and other documents and preparing Annual General Meetings. We are the point of coordination between the companies and the accountants to ensure that all the accounting and tax obligations are met.
  • Opening and operating of bank accounts in Cyprus: Our firm has developed strong relationships with banks in order to provide our clients with options. The banking relationships extend from commercial day-to-day banking business to private banking and wealth management.

Office:

The regulatory conditions that prevail in Europe and elsewhere are expecting companies to show their presence in the jurisdiction in which they operate. It is apparent that shell companies will not be granted benefits and there is general tendency to move away from empty structures. One of the most important criteria is for a company to have office space and employ staff on the ground. More and more companies are choosing Cyprus as their regional headquarters taking advantage of the location of the country and what it has to offer by relocating staff to Cyprus and enlarging their presence. Our firm can assist you in making this move both in terms of identifying office space and employing staff depending on your needs. For smaller operations we offer serviced shared offices.

Anti-Money Laundering (AML) Monitoring with PVLF:

Anti-Money Laundering (AML) Compliance is a crucial aspect of the financial and professional services industry as well as trade. AML is aimed at detecting and preventing money laundering and terrorist financing activities. In recent years, the European Union, which is committed to adopting global solutions to respond to these threats at the international level, has enacted stringent legislation to combat money laundering and terrorist financing.
Just two years after Cyprus transposed the 5th Money Laundering Directive (EU) 2018/843 ('AMLD5') into national law, the 6th and 7th Anti Money Laundering Directives are just around the corner to introduce additional control and prevention measures.
Businesses are struggling to meet compliance requirements and provide more security even with fewer and fewer resources, as they cannot afford non-compliance! Non-compliance with AML requirements can result in significant fines and reputational damage.The answer to this struggle is the improvement of investment in compliance by going further where the right blend of people, technology and processes are all involved.
PVLF may assist you to understand if you fall within those categories that require to have an AML policy in place and can assist in its design and implement an operating model so that compliance generates a strategic advantage and of course respond to the challenges of excessive regulatory pressure.