Judicial intervention in changing the Cypriot company’s activities
9 March, 2026
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Each Cypriot company shall operate on the grounds of the Memorandum of Association (MoA), i.e. a constituent document that determines types of the company’s activities its legal boundaries.
Memorandum of Association contains a list of activities that the company has the right to carry out. This list is broad enough not to limit the company’s business and not to create potential obstacles in its cooperation with banks, counterparties and government agencies.
Interlegal practice has lots of cases when banks demanded to update the MoA due to too narrow a formulation of activities or inconsistency with the actual business model. Meantime, there are situations when, on the contrary, it is necessary to include a new and specific type of activity at the request of counterparties or partners in order to secure transparency and legitimacy of transactions.
The Client applied to Interlegal with such a request: to amend types of its Cypriot company’s activities.
Amendments to this section of the MoA are treated as those that may affect the company’s financial status and the creditors’ interests. That is why in Cyprus amendments to types of the company’s activities shall be possible only on the grounds of the court order.
Interlegal provided full legal support: from drawing up corporate and financial documents to registration of the updated wording of the MoA and the company’s support in the Cyprus court. Namely, our lawyers:
- Prepared up-to-date accounting records upon the company’s financial status;
- Facilitated informing creditors on changing activities in
the official newspaper of Cyprus; - Drew up procedural documents prescribed by the court’s requirements.
- Participated in the court hearing;
- Registered a new wording of the MoA in the Cyprus Companies Register based on the court order.
Result: the Client was able:
- to carry out officially its activities in new areas;
- to confirm lawfulness of amendments to banks and counterparties;
- to mitigate corporate and regulatory risks in its further activities.
Is there a request from a bank or counterparty to change wording upon activities? Please do not hesitate to contact Interlegal: our legal support will help you go through all the stages quickly and safely.
Interlegal junior lawyer Kateryna Havryliuk and lawyer Dariia Bubnova, managed by senior associate & heard of Cyprus office Alyona Remenyak led the case.
