Annual Levy for Cyprus Companies
All companies registered in the Republic of Cyprus must pay at the Registrar of Companies an annual levy of €350. For companies that fall within a group the total amount is capped at €20.000.
As of 1st February 2013, the levy is payable as follows:
- The annual levy on companies dormant or not is payable as of the year of incorporation. Exempt are only companies under liquidation or winding up.
- The annual levy must be paid no later than 30thJune of each relevant year;
- Failure to pay the annual levyby 30th June shall have the following penalties:
– For a delay of up to 2 months – a 10% penalty;
– For a delay between 2 and 5 months – a 30% penalty.
- Non-payment of the levy shall be given notice of strike off by the Registrar of companies and in the event of non-compliance the registrar will proceed with deregistering the company.
- Reinstatement fees from its strike off has a penalty of €500 (in addition to the outstanding amount of the levy) is imposed and €750 where a company is re-instated after the two-year period.