Annual Levy for Cyprus Companies.
All companies registered in Cyprus must pay annual levy of €350. In the case of group companies the total amount payable is capped at €20.000.
This levy is payable to the Registrar of Companies by 30 June of each year. New companies also have to pay the prescribed levy during the year of their incorporation.
Late payment of the levy will give rise to the following penalties:
- In case of up to a 2 month delay the penalty is 10%;
- In case of a delay between 2 to 5 months the penalty is 30%.
Non-payment of the levy may result in deregistration (striking-off) of a company by the Cyprus Registrar of Companies (who will not allow the company to submit documents or request certificates from the Registrar of Companies).
In case that a company is re-instated within a two year period from its strike-off, a fixed penalty of €500 (in addition to the outstanding amount of the levy) is imposed. The fixed penalty will be increased to €750 where a company is re-instated after the two year period.
The information in this report is for information purposes only. It is not intended to constitute tax, legal or other professional advice, and should not be relied on or treated as a substitute for specific advice relevant to particular circumstances. We accept no responsibility for any errors, omissions or misleading statements in this report, or for any loss which may arise from reliance on materials contained in this report.
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