Incorporation of a Doctors’ Limited Company (DLC/Ι.Ε.Π.Ε.) in Cyprus

The Doctors’ Limited Company (DLC/Ι.Ε.Π.Ε.) is a specialised corporate form established under Law 73(I)/2013, which amended the Registration of Doctors Law. This legislative reform introduced the legal framework for the formation, governance, and dissolution of medical companies, supplementing the provisions of the Companies Law, Cap.113.

1. Legal Framework and Precondition

Pursuant to section 8 of the amended law, the incorporation of a medical company requires the prior approval of the Cyprus Medical Council before an application can be submitted to the Registrar of Companies.

2. Incorporation Requirements

Depending on the legal form selected:

• For partnerships (general or limited), all partners must be registered doctors under the Registration of Doctors Law.

• For private limited companies, all shareholders and members of the board of directors must be registered doctors. Shareholding may also be held by partnerships, provided all partners are registered doctors.

Upon incorporation with the Registrar, the Cyprus Medical Council records the company in the Register of Doctors’ Companies (section 8(4)).

3. Company Name

Section 8(5) provides that the name of a medical company registered as a private limited liability company must include the designation “Ι.Ε.Π.Ε.” in Greek or “DLC” in English, instead of “Ltd.” The name may be used in either Greek or Latin characters, regardless of how it is registered.

4. Application Procedure and Documentation

The application to the Cyprus Medical Council must be accompanied by:

• a valid licence to practise medicine issued by the Cyprus Medical Association for the current year;

• a proposed Articles of Association or partnership agreement (the Ministry of Health provides model templates); and

• payment of a €100 application fee to the Medical Council’s designated bank account.

Following approval, the company proceeds to registration with the Registrar of Companies and subsequent entry into the Register of Doctors’ Companies.

5. Fees and Timeframe

The application fee is limited (€100), and applications are examined promptly by the Medical Council. The registration is finalised once the Registrar issues the incorporation certificate and the Council records the company in the special register.

The DLC offers medical practitioners the benefit of conducting their professional practice through a corporate structure with limited liability, while ensuring strict compliance with statutory and professional requirements. This enhances transparency, credibility, and organisation within the medical profession in Cyprus.