The Cyprus Germany Business Association is ready to contribute to our Society and to the further development of the ties between Cyprus and Germany.
It is my utmost pleasure as the President of the Cyprus Germany Business Association, shortly CGBA, to announce to the public that the Association has been registered with the Registrar of Companies on the date of 21 December 2020.
The Cyprus Germany Business Association has been incorporated as a “Company Limited by Guarantee”, which is a legal form of companies that is typically preferred for non-profit organisations. The Goethe Institute in Nicosia, for example, is a Company Limited by Guarantee.
Companies Limited by Guarantee have no share capital and thus no shareholders, but members instead who guarantee the provision of a certain small amount to cover costs and expenses in case of liquidation.
Companies Limited by Guarantee need to keep proper books and accounting records and need to have their annual financial statements audited by an Auditor licensed in the Republic of Cyprus, just as it is the case with any other company.
Bookkeeping and accountancy services will be provided as contribution by our member Roedl & Partner.
Article 4 of the Memorandum states that the Company is a non-profit entity.
Structure and Organisation
The Cyprus Germany Business Association has 19 Founding Members. The Cyprus Chamber of Commerce and Industry is a founding member.
Out of its 19 founding members, there are 11 German companies or their subsidiaries or German-owned companies, all based in Cyprus, and 8 Cyprus-owned companies.
The Cyprus Germany Business Association has an internal Board of 19 Members, of which 7 form the Executive Committee. These 7 Executive Committee Members act as Directors of the Company, as per the registration records with the Registrar of Companies. The Cyprus Chamber of Commerce and Industry is represented on the Board.
The well-balanced Board of Directors has been elected by the Founding Members during the inaugural meeting. The Board consists of 3 female members and 4 male members, 3 of them being Cypriot and 4 of them German members.
The Board of Directors consists of the following persons:
- Stefan Nolte (President; Shanda Consult)
- Irena Georgiadou (Vice-President, individual member)
- Capt. Eberhard Koch (Vice-President, Österreichischer Lloyd Seereederei)
- Alexandros Ioannou (CCCI)
- Beate Christeleit (BTM Travel Logistics)
- Dirk Fry (Columbia Shipmanagement)
- Maria Makridou (Kinanis LLC)
The Board has adopted
- the Vision and Mission,
- the Values,
- the Slogan,
- the Code of Conduct of its members and
- the Strategic Objectives
of the Cyprus Germany Business Association as worked out during a Facilitated Brainstorming Retreat of the previous Board in October 2017, facilitated by Mrs Muriel Matta, owner of Maravilhosa.
Benefiting from the restriction to meet in person during the Corona period, the Executive Committee is now working on the Association’s plan and programme of activities.
As the President of the Association, I invite companies and individuals as well as institutions in Cyprus whose business or activities are connected with Germany to become a member of the Cyprus Germany Business Association and to support our activities to foster the ties between the two countries, especially during the post-BREXIT times, which require a partly re-orientation of the Republic of Cyprus in various areas.
President of CGBA
CGBA Board Members and CGBA Members are cordially invited to attend
The association's first board meeting
after the transformation into a legal entity
The transformation took much longer than expected, but no we are ready to steam ahead, making new ideas happen!
During our first meeting we will have to decide funtions and tasks in the new Board of Directors, so we have a packed agenda.
The new Board of Directors comprises of exciting people with dynamic personalities and an enthusiastic commitment to steam ahead! All CGBA members may attend but those CGBA members who are not Board Members will be able to vote.
Soon we will update our website and keep our members and the public informed about our activities and events. Stay tuned!
Please also follow our page on LinkedIn to be always informed.
Transformation of the CGBA into an independent legal body
The current Cyprus Germany Business Association under the auspices of the Cyprus Chamber of Commerce and Industry (KEVE) is the first bilateral business association under the umbrella of KEVE that will shortly be transformed into an independent legal body on its own, with the consent and the participation of KEVE. The new CGBA will be registered as a Company Limited on Guarantee and as a Non-Profit Organisation.
The Founders’ meeting will take place on Wednesday, 20 November 2019 from 12:30 to 13:00, at the KEVE Building, 2nd Floor.
The Founding Members need to sign the Memorandum and Articles of the new Cyprus Germany Business Association Ltd.
Background and Rationale of the Transformation of CGBA
Strong organic ties with KEVE
KEVE fully supports this new development. KEVE will be a Founding Member of the new “Cyprus Germany Business Association Ltd” and will always have one representative on the Board of Directors.
The transformation of the current CGBA into a legal entity registered on its own goes in line with the Government’s “Economic Diplomacy Initiative” and the Government’s intention to further Cyprus’ ties with Germany, in light of the upcoming BREXIT. The Ministry of Foreign Affairs already expressed its desire to closely cooperate with the new CGBA.
Why will the NEW CGBA be stronger?
The progressive step of transforming the CGBA into the NEW CGBA Ltd will enable our Association;
- to act on its own with its own legal identity,
- to be self-managed,
- to manage its own financials and budget,
- top open its own bank account,
- to accept and manage sponsorships,
- to enter cooperation agreements with local and foreign organisations and associations,
- to organise useful events in Cyprus and abroad in cooperation with governmental bodies and appropriate organisations and associations,
- and more.
Please express your interest to become a founding member not later than by 12 November 2019, by sending an email through our Contact Page.
Does our Future lie in Blockchain?
Blockchain from another agle that is not about cryptocurrency
The Cyprus Germany Business Association is delighted to invite the interest public to its annual Networking Reception in Limassol!
The Association will annonce its recently decided new VISION, MISSION, VALUES and STRATEGIC OBJECTIVES, which are creating the basis for the work and activities of the next years.
Latest amendment (22/11/2017): The new German Ambassador to Cyprus, H.E. Franz-Josef Kremp, confirmed his attendance!
Companies with strong business ties with Germany will introduce themselves with small booths at the event venue.
MEET OLD FRIENDS - MAKE NEW FRIENDS!
Looking forward to meet you in person on 28 November 2017!
At the Caprice Restaurant, Londa Hotel, Limassol
28 November 2017
20:00 Presentation by the President
20:30 Meet old friends - make new friends!
Networking Reception with drinks and fingerfood