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Important update on payment of Annual Licence Fee (payable by all Cyprus-incorporated companies)
05.02.2013
业务领域: 公司法及商法

According to the latest amendment of the Companies Law, Cap. 113, the annual licence fee of €350 which had been imposed on all Cyprus-incorporated companies must now be paid by invariably all Cyprus-incorporated companies and several exemptions which applied in the past, have now been abolished.

In particular:
• Companies incorporated in 2012, which were previously exempt from the payment of the annual licence fee in the year of their incorporation, must now pay the annual licence fee for 2012 as well.  The deadline for the payment of the annual licence fee for 2012 is the 29th March, 2013.
• Dormant companies which filed the relevant declaration and did not pay the annual licence fee for 2012 must, by 29th March, 2013 opt to either:
- pay the annual licence fee for 2012 or
- apply for their strike off from the Register of Companies pursuant to section 327 of the Companies Law.  In this case, the company will be deemed as having been struck off as from 1st January, 2012.


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Reminder: The annual licence fees for 2013 and for every subsequent year is payable by 30th June each year. Late payments incur a 10% penalty if the fee is paid by 31st August each year and 30% additional penalty (i.e. 40%) if the fee is paid by 30th November each year.
 In case of non payment of the annual licence fee by 30th November each year, the company is struck off the Register pursuant to section 327 of the Companies Law and can be reinstated within two years by the payment of €500 or €750 after the lapse of two years.
Kindly refer any queries or instructions to your contact person within Dr. K. Chrysostomides & Co. LLC or email info@chrysostomides.com.cy

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