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Company Law and Corporate Consulting

Company Law and Corporate Consulting

Particularly with the growth of real estate trade and the booming construction sector, Northern Cyprus turned into a key focus of many local and foreign businesspeople. Foreign individuals and legal entities can set up a limited company in Cyprus, for as long as they comply with Article 113 of Corporate Law and other applicable regulations. In addition to local limited companies, the registration of off-shores companies can also be set up, provided that all shareholders are foreigners. With its expert team, comprised of leaders in their fields, Gürkan & Gürkan Advocates and Legal Advisers, provides legal consulting services to companies that are active in various fields, both in Northern Cyprus and internationally.

Gürkan & Gürkan Advocates and Legal Advisers handles the tasks of name registry check for local companies, the preparation of the memorandum of association and articles to reflect corporate goals, the appointment of directors, establishment of shares and the structure of shareholders, identification of various share types if needed and company registration.

For already established companies, our Firm provides legal support for the function of decision-making mechanisms, the convention of the board of directors, proper execution of the principal agreement, ensuring legal compliance of the company and establishment of the duties and limitations of powers of directors

For already established companies experiencing disputes between its directors or shareholders, Gürkan & Gürkan Advocates and Legal Advisers offers the most practical and speedy resolution alternatives to resume operations and bring an end to a deadlock. Additionally, where the matter is best handled in a court of law, our Firm provides the best representation for it clients for: the protection of the company’s best interests, the protection of rights and financial interests of shareholders that are either represented or have suffered harm, derivative action brought on by minority shareholders against third parties, injunctive orders involving assets owned by the company or individuals related to the company, mandatory and unforced liquidation of companies and demands for compensation. Our Firm intends to preserve the rights of its clients by way of practical as well as novel solutions, put forth by its team of experts.

Our Firm provides services relating to: Amendments to the master agreement in cases where the company wishes to perform in new areas or broaden the scope of operations, amendments to the objectives, additions and deletions, change of the structure of directors or shareholders, resignation of directors or secretaries, dismissal of the director, increase in paid capital, transfer of shares among shareholders, transfer of shares to a new shareholder, transfer of the deceased shareholder’s shares to survivors, dissolution of a company that is no longer active, changes to the registered address or the office of the company, as all as many other related services.

International business companies, or off-shore companies as they are often known, as per our (IBU) regulation, are preferred by investors who do not desire to sell goods or services to the domestic market but wish to serve international markets with their goods or services. Off-shore companies only pay one percent of their annual profits in taxes and are exempt from all other corporate taxation that limited corporations must pay.

Gürkan & Gürkan Advocates and Legal Advisers offers a variety of services relating to off-shore companies and free-zone companies, including: obtaining the pre-permit from the Ministry of Economy and/or the Free Zone Administration for the establishment of off-shore companies, collection of all documents needed for registration and the submission thereof to the respective authorities, assignment of a director and secretary and identification of shareholders. Our Office continues to stay in close contact with its clients during this process to ensure the speedy registration and approval of the off-shore corporation.

Gürkan & Gürkan Advocates and Legal Advisers has also made great strides in emerging areas that have recently been attracting investor interest around the world. We provide legal support and enable the entry of our clients into such areas as e-commerce, crypto-currencies, crypto-currency exchanges and blockchain.

To provide the best service to its clients, our Firm works in close cooperation with the accountants and auditors, with whom we have established relationships. This allows us to cover all the needs of our clients over a broad spectrum.

The array of our services is not limited to providing legal support to established companies; some of our services include the following:

  • Establishment of local limited companies in Northern Cyprus with local or foreign capital
  • Establishment and registration of off-shore companies in Northern Cyprus
  • Establishment and registration of free zone companies in Northern Cyprus
  • Legal support to domestic and foreign companies to open branches in Northern Cyprus and the management and completion of all procedures towards this goal
  • Legal support during the process of capital increase, assignment and change of directors and secretaries of corporations registered in Northern Cyprus
  • Preparation of all legal documents and the management of the process of share transfers within corporations registered in Cyprus
  • Mergers and acquisitions in Northern Cyprus
  • Legal counseling regarding the opening of branches and granting of vendor rights in Northern Cyprus
  • The dissolution of corporations in Northern Cyprus
  • The resolution of disputes among shareholders and legal proceedings in court
  • What must I do in order to establish a corporation in Cyprus? Foreign citizens who desire to establish a corporation in Cyprus, as well as those who will be shareholders in corporations, must contribute a capital of $100,000 or more. The required capital will be blocked in a client escrow account overseen by our Firm until the establishment of the corporation; following the registration of the corporation, this sum is transferred into the newly-established company’s account.
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