On 7 April 2021, the Companies (Amending) Law 43(I) of 2021 was published in the Official Gazette of the Republic of Cyprus, introducing changes in relation to the enforcement date of the administrative penalties to be imposed on each company in case of failure to comply with the Annual Return (ie HE32) requirements set under the Companies Law, Cap.113.
As of June 1, 2021, the below administrative penalties will be imposed on each company in case of failure to comply with the above statutory requirements:
- €50 one-off penalty; plus
- €1 for each day of delay for the first 6 months; plus
- €2 for per day thereafter with a maximum penalty of €500.
For more information about the deadlines and calculation of penalty, refer to Company’s registrar website in : Link