SUBMISSION OF ANNUAL RETURNS – HE32
Every company registered in the Republic of Cyprus must submit an annual Returns Report commonly known as HE32 together with the Audited financial accounts of the company for the previous year. Where a company is submitting for the first time, there is an eighteen (18) months period for preparation and submission as of the date of incorporation. For consequent years the Annual Returns must be submitted within 28 days from the previous reference date of the initial submission as per CAP.113, 120 (1A).
For companies that do not comply with the above mentioned requirements the Registrar of Companies imposes the below penalties as per Cap 113 Art. 120(4):
- For Annual Returns HE32 until the year 2020, the companies shall be subject to a one-off financial charge of Forty Euros (€40) per year.
- As of 1/04/2021 any company who fails to submit their Annual Returns HE32 accompanied by its Financial Statements before the end of the year 2020 shall be subject to a one-off financial charge of Fifty Euros (€50) and a further financial charge of One Euro (€1) for each day of continuation of the infringement during the first six (6) months, and two euros (€2) for each day of continuation of this infringement up to a maximum total amount of five hundred euros (€500).
To this extend Demetris Ch. Demetriades LLC is by your side to assist and coordinate with your auditors for the submission of all pending Annual Returns HE32.