There are many bodies of law which help running any country. Company law is one such body of law. Just like in any other country, in Cyprus too Company law forms the legal basis of how businesses operate and deal with each other within the Cyprus economy. In an economy, not only the businesses deal with each other in one way or the other, they also deal with various organizations and with the government. Any disputes dealing with this type of issues are sorted out by referring to company law. Formation of companies in Cyprus, the transactions that take place between businesses and the legal exemptions offered to businesses are all included in the company law. While forming a new company, there are certain legal requirements which the business owners can take care of. If those requirements are not met, company cannot be formed. To operate as a company in Cyprus, there are certain specific laws which are to be followed.

Stoltenberg, Clyde D., “LAW, REGULATION AND INTERNATIONAL BUSINESS” (2008) 40 American Business Law Journal

According to most countries’ law, each business is its own legal entity; this means, there are thousands and thousands of legal entities in each country which need to be handled legally. It also means that each business has to be legally constituted in order to carry out its activities. All this leads to a need for the legal system to monitor these laws; and its inclusion inside Business Law.

Business Law is, as its name suggests, the combination of laws in charge of controlling the commercial dealings done among people, as well as the regulation of the formation and handling of an organisation. Each country has its own rules when it comes to legal types of businesses, how they have to be constituted and which things are necessary in the process. Even though there are certain types of businesses more or less general to all the EU (cooperatives, limited liability…) the fact that the same name is used does not mean the same rules apply.

In the following chapter, we will be able to see the peculiarities of Business law and how it is handled in the country.