Cyprus Trade Name Formation

A Trade Name is a name under which a Cyprus business (of any legal status) may carry on a trade or provide services. A trade name in Cyprus does not enjoy any of the benefits of a Cyprus private company limited by shares however sole practitioners and business alike may prefer to trade under a trade name since commercially it is a more appealing process.

Companies Using Cyprus Trade Names

For example ABC Trading & Services Ltd may register the trade name ABC. and use ABC on it’s marketing material, online campaigns, advertisements, logos and stationary documents. Certain restrictions exists such as displaying the name of the company outside the offices, displaying the name on invoices, however in general it is possible to built a brand around a trade name without the need to use the full and complete name of the Company.

Sole Traders using Cyprus Trade Names

For sole traders, it is possible to carry out a business under the trade name rather than using their own name with similar restrictions when issuing invoices or entering into agreements. For example John Doe may register the trade name “Dough Bakery” for his bakery and trade using that name. John Doe will be personally liable against any creditors and will not enjoy the benefits of a Cyprus private company limited by shares nevertheless he will have traded under a more marketable name and built his brand using that trade name.

Trade Names vs Trade Marks

A trade name and a trade mark are not the same. A trade name is a name which may be used to trade under whereas a trade mark is a symbol, figurative or descriptive, which is used to trade with. Trade Marks are also registered in Cyprus and act as a shield against third parties attempting to pass of the brand as their own. Furthermore at times if the trademark owner identifies that people are attempting to pass off their products and services as those of the trade mark owner, an injunction may be sought along with restrictive measures against the party with compensation where as necessary.

Partnership and Trade Name Law – Chapter 116

The Partnership and Trade Name Law, Chapter 116 of the laws of the Republic of Cyprus is one of the statute laws adopted by the Republic of Cyprus with its establishment in 1960. To the best of my understanding it is the national adoption of the Partnership Act 1890 as amended until this day by 8 laws. The latest being Law 147(i)/2018.

Section 50 of the Partnership and Trade Name Law

Section 50 requires every partnership, physical person, company and firm that conducts business in Cyprus to register a trade name in accordance with the provisions of this law.

Section 52 of the Partnership and Trade Name Law

Section 52 provides the guidelines for registration of a trade name and the same is summarized below. The registration of a trade name is conducted with the dispatch in the prescribed form the following particulars:

• The name to be used for the Trade Name
• The place of business
• The nature of work to be performed
• The owner of the trade name
• The date that business commenced

Name the Cyprus Trade Name

The Registrar of Companies recently released guidelines for company names and names for business. Although that post is aimed for companies, the guidelines therein are the same for trade names.

Place of Business of the Cyprus Trade Name

The place of business of the trade name must be in Cyprus and it cannot be a P.O. BOX. The place of business will be the address which all the notices and publications will be sent. This will be inserted in the public record and everyone will have access to it. It is possible to change the place of business of the trade name by following the process prescribed by the registrar.

The Nature of work to be performed

The nature of work indicates the type of trade and services the trade name will be providing. Certain types of services and work requires additional licenses and approvals, certain examples are below:

The Owner of the Trade Name

A Cyprus trade name may be owned by:

• A physical person who works in Cyprus and carries out a business in Cyprus
• A Company which has a business in Cyprus

The publication of the trade name owner is forwarded along with the establishment process. The ownership of a Cyprus Trade name cannot change. In order to achieve this the trade name must be deleted from the registry and the entire process resubmitted with new ownership details.