Annual Levy
The deadline for payment of the annual government levy for each Cyprus company (as per article 391 of the Cyprus Companies Act, Cap 113) , which amounts to €350, is 30 June 2016. Failure to pay this fee by this date will result in a 10% surcharge if the payment is made before 31st August 2016 (i.e. total amount €385), or in an additional 40% of the levy is paid after 31st August but before 30th November 2016 (i.e. total amount €490).
If the levy is not paid by the end of November 2016 the Registrar has the right to refuse the execution of any services, e.g. the receipt of an annual return or the issuing of a certificate, in respect of the company, and the company may be struck off from the Registry. The registrar fees for reinstating the Company’s status is €500, and this will escalate to €750 after two years.
The fee can only be paid through the Registrar’s website (www.mcit.gov.cy/drcor) or through the JCCSmart website (www.jccsmart.com.cy).
