Can business in Cyprus change it’s legal entity type?

Indeed, a business operating in Cyprus has the ability to alter its legal entity type. The process of changing a business’s legal entity type includes a series of actions such as seeking advice from experts, establishing a new entity, transferring assets and operations, winding up the old entity, and informing relevant parties. The specific steps involved in this process may differ based on the existing and desired business structures as well as legal regulations. It is essential to seek guidance from professionals and ensure that all procedures are executed accurately to prevent potential legal and financial consequences.