Legal basis and supervision
The association is constituted and supervised under the Associations and Foundations Law of the Republic of Cyprus. Our registered constitution defines our non-profit purposes, membership rules, organs of governance, and the mandatory application of any remaining assets to a similar public-benefit purpose in the event of dissolution. The competent registry authority is the Ministry of Interior, acting through the relevant District Administration.
Tax-exempt, non-commercial character
The association carries out no commercial trade, distributes no profit or dividend to members, and pays no remuneration to members of its Executive Council. Its tax-exempt, non-profit character derives from its registration and from the exclusively public-benefit purposes recorded in its constitution. Fundraising is incidental to those purposes and is never conducted for private gain.
Financial controls
Funds are held in a dedicated association bank account operated under dual signature by the Treasurer and one further authorised officer. Income and expenditure are recorded against each programme, annual accounts are presented to the General Assembly for approval, and statutory filings are submitted within the deadlines prescribed by law.
Documentation available on request
Verification bodies and institutional partners may request our certificate of registration, constitution, list of Executive Council officers, and most recent annual activity and financial report by writing to info@varaderofriends.org or by post to our registered office at Vasilissis Amalias 17, Nicosia 1101, Cyprus. Requests are normally answered within five working days.