It was officially announced on the 8th January 2019 by the Cyprus Registrar of Companies and Official Receiver, upon the opinion of the Attorney General, that the following Charges will no longer be eligible for registration: 

Pledging of share certificates of companies, assignment of rights deriving from company shares or any other charge on company share certificates, company shares or rights deriving from shares in companies and all or any of the rights resulting from the pledge or assignment or the charge, which have so far been accepted because these charges fall under the exceptions of Article 90 2 (a) of the Companies Law Cap. 113.

Insofar as the above has been officially implemented by the Registrar of Companies and Official Receiver, it does not challenge the legal and binding validity of a deed of pledge of such described assets that may be entered into by mutually consenting parties.

UPDATE - 15th March 2019

The Department of Registrar of Companies and Official Receiver announces that, after clarifying the above previous opinion of the Attorney General in relation to article 90 of the Companies Law, Cap. 113, pledges/charges will be accepted for registration in connection to pledging of share certificates of foreign companies, or charges that result from them, same as prior to the announcement dated 8th January 2019.

Please note however, that pledging of share certificates of companies registered in Cyprus, or charges that result from them, will continue to be non-acceptable for registration.

Contact us

Igoumenitsas 12,
CONNECTEDSKY HOUSE, P.C. 2027,
Strovolos, Nicosia, Cyprus

Tel:
70003517 in Cyprus
+357 22258800 from abroad

Fax:
+357 22258801

Email: info@connectedsky.com