The Annual Company Levy in Cyprus
In accordance to Company Law Cap. 113 117(I)/2011 and 190(I)/2012 all companies that are registered in Cyprus, must pay the annual Levy of €350.00 by the 30th day of June of each year.
Newly incorporated companies are exempt from paying the levy in the year of their incorporation, only if they are incorporated after the 30th of June.
PENALTIES FOR NOT PAYING THE LEVY ON TIME
- If the payment is made after the 30th day of June and before 31 August, then a 10% penalty is imposed;
- If the payment is made after 31 August and before 30 November, then a penalty of 30% is imposed.
Failure to comply with the above provisions will result to the removal the company from the Companies Registry. The Company can be restored within a period of 2 years from the removal date, after a payment of €500.00 and after a period of 2 years the payment will be €750.00.
The Levy can also be paid online, by following the link below.
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