According to the Companies Law, all Cyprus registered companies irrespective of their year of registration are required to pay the Annual Levy of €350 to the Registrar of Companies by 30 June of each year.
The Annual Levy is is payable by 30 June of each year and it increases if it is not paid on time as per the table below.
|1 January – 30 June (basic)
|From 1 July – 31 August (10% penalty)
|From 1 September onwards (30% penalty)
It is worth noting that, for group of companies, the total annual levy payable is limited to €20.000 per annum.
COVID-19 for 2020
In March 2020 the government has announcement a package of measures to help the economy due to the effects of the COVID 19 pandemic. In terms of the annual levy for year 2020 the penalties will not be applicable and therefore companies can pay the EUR350 annual levy by 31 December 2020 without any additional charges. Companies which pay the annual levy in 2021 will also have to pay the 40% penalty i.e. the total payment will be EUR490.
Companies that do not pay the Annual Levy may be deleted from the Register.
Where a company is in the process of a voluntary liquidation or wind-up then the Annual Levy is not payable.
Submission of documents for the voluntary winding up of a company will only be accepted by the Registrar of Companies if the company has already settled the payment of the Annual Levy for all the previous years.
The Annual Levy is payable through the website of the Registrar of Companies after registration to the Government Gateway Portal (Ariadni) or through JCCSMART website for years 2018 onwards.
For further help and assistance for the payment of the Annual Levy, please contact us.