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A newer announcement on the issue of Pledges was issued by the Department of Registrar of Companies and Official Receiver in Cyprus.
The announcement states as follows:
“Further to the announcement dated 08 January 2019 regarding the opinion of the Cyprus Attorney General with respect to Article 90 of the Companies Law Cap. 113 related to the above issue, the Department of Registrar of Companies and Official Receiver announces that (after clarifying the previous opinion) charges relating to pledging of foreign share certificates or the charges resulting from them they will become eligible for registration, as this was the practice followed by the Department before the first opinion dated 08 January 2019.
Please note that charges relating to the pledge of share certificates of companies registered in Cyprus or charges arising therefrom will continue to be non-registrable.”
For any further assistance or clarifications on the above announcement feel free to contact our corporate department.