A Step-by-Step Guide to Incorporating a Joint Venture in Cyprus

General Principles of a JV

Incorporating a joint venture in Cyprus typically involves the following steps:

1. Choose your business partners: A joint venture is a partnership between two or more parties. You will need to identify your business partners and negotiate the terms of the partnership, including the investment amounts, ownership percentages, and responsibilities of each partner.
2. Choose a name for your joint venture: You will need to choose a name for your joint venture that is not already in use and conforms to the rules set out by the Cyprus Registrar of Companies.
3. Draft a joint venture agreement: The joint venture agreement sets out the terms of the partnership, including the investment amounts, ownership percentages, responsibilities of each partner, and other key provisions. This document should be drafted with the help of a lawyer to ensure that all relevant legal requirements are met.
4. Register your joint venture: Once you have drafted your joint venture agreement, you will need to register your joint venture with the Cyprus Registrar of Companies. This typically involves submitting the joint venture agreement and other relevant documents, such as the partners’ passports, to the Registrar.
5. Obtain any necessary licenses or permits: Depending on the nature of your joint venture, you may need to obtain licenses or permits from relevant authorities in Cyprus. For example, if your joint venture involves a regulated industry, such as banking or insurance, you will need to obtain licenses from the Central Bank of Cyprus or other relevant regulatory bodies.
6. Open a bank account: Once your joint venture is registered, you will need to open a bank account in the joint venture’s name. This will allow you to receive and make payments related to your joint venture’s activities.

It is important to seek legal and financial advice before incorporating a joint venture in Cyprus to ensure that all legal and regulatory requirements are met.

We are pleased to announce that our #corporate team advised its clients as their legal advisors on incorporation of a joint venture for the purposes to participate in a public tender.

Our team has been appointed to act as the legal advisor and provided specialist #corporate and #commercial legal advice, including and not limited to the drafting of joint venture agreement.

Our clients a well established and reputable company entered into a joint venture agreement in order to participate with its business partner (a foreign company) in a public tender (competition) held by public authorities. The potential cost of the main contract, estimated by the contracting authority, exclusive of VAT, as explicitly set out in the tender documents to the amount of Euros 60,000,000.00.