Annual Levy 2016 (25/05/2016)

• As statutorily required, Cyprus registered companies must pay an annual company fee at the Department of the Registrar of Companies (the RoC)  every year. For the year 2016, the fee is payable the latest by 30 June 2016. All previous statutory exceptions have now been removed.
• The annual company fee, as in previous years, is set at € 350/company.
  This year, the payment can only be made through the payment on your behalf.www.mcit.gov.cy/drcor” Kindly note that you may wish that you pay the annual company fee directly, or, we may make the payment on your behalf.
• Kindly note that should you make the payment of the annual company fee for each company, we shall require receipts of payment of the annual company fee for the purposes of updating our records for each company.
• Lastly, where the annual company fee is not paid until the deadline set by the Companies Law, penalties apply as follows:
• €385 from 01.07.2016 until 31.08.2016 (a 10% penalty is imposed);
• €490 from 01.09.2016 until 30.11.2016 (a 30% penalty is imposed).
• Where a company does not pay the annual company fee before the deadline, or before 30.11.2016, the Registrar removes the company from the register of companies.
• Where the annual company fee is paid within a period of two years from the removal of the company from the register of companies and provided the company pays to the RoC the fee of €500, the company is restored to the register of companies, and where the payment is made on the lapse of two years the company must pay the amount of €750 for the company to be restored to the register of companies.

You are kindly requested to inform us how you wish to proceed.