Societies & Foundations

A Society or a Foundation in Cyprus is formed and governed by the Societies and Foundations Law (Law 57/72) and both must be registered with the relevant Registrar under the Ministry of Interior. A Society is an organization of at least 20 persons that is formed for a non-profitable cause. Examples include charity organizations and sports associations. Societies are considered to have a different legal identity than Foundations and for this reason the law separates the two by setting different provisions. The formation of a Foundation may combine the need for proper tax planning with a desire for charity.

The registration application of Societies must be submitted to the Registrar along with:

  • The Incorporation Act (the Articles) of Association dated and signed by all members.
  • A description of the immovable and movable property in possession of the Society.
  • The names and addresses of the Society's board members.
  • The Society's logo/stamp.

The registration application of Foundations must be submitted to the Registrar along with:

  • The Incorporation Act including the name and objectives of the Foundation.
  • The names and addresses of the Foundation's management members.
  • The property in possession of the Foundation.
  • The perspective of the Foundation.

No minimum capital requirements exists for the registration of a Foundation

The experience of our firm in the formation of such legal entities will be of great assistance in your effort to form any such organization.