A Business or Trade Name is the term used to denote a trading name. Trade names may be registered in Cyprus under the provisions of the Partnerships and Business Names Law, Cap 116(as amended by Law No. 77/1977) and used by a sole trader or a company. For example Mar. Jones that owns a supermarket may register the business name “Elite Supermarket” and trade under this name and at the same time issue invoices using this Trade or Business name.
A person wishing to register a Business name must first file an application at the Registrar of Companies’ Office in Cyprus for the name to be approved. The Registrar of Companies may refuse to register a business name which is comparatively similar to an existing one or is considered to be misleading or confusing.
On approval of the name, the applicant has six months to file the appropriate form (Form B.N 1) duly completed and signed for registration of the name.
A business name can only be registered if the applicant is a single person or a legal entity.
On successful registration, a trade name remains on the register until an application for removal is filed by the owner. Section 57 of the Partnerships and Business Names Law provides that where you have registered a trade name and thereafter cease to carry on business, the Registrar must be informed within one month after the business has ceased trading. The Registrar will then remove the trade name from the register.
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The following table shows the statistics for Business or Trade Name registered in Cyprus.