ARTICLE
26 April 2023

Annual Levy For 2023

Ki
KPMG in Cyprus

Contributor

KPMG has been operating in Cyprus since 1948 and currently employs more than 800 professionals working from 6 offices across the island. It is a member of KPMG International Limited, a global organisation of independent professional services firms providing Audit, Tax and Advisory services. KPMG operates in 143 countries and territories and has approximately 273,000 people working in member firms around the world. Clients look to KPMG for a consistent standard of service based on high-order professional capabilities, industry insight, local knowledge and expertise.
Every company, registered in the Registrar of Companies, has an obligation to pay a flat annual fee of three hundred and fifty Euros (€350) to the Registrar of Companies by the 30th of June of each year of its operation.
Cyprus Corporate/Commercial Law

Flat annual fee for companies for 2023

Flat annual fee for all companies registered in the Cyprus Companies House

Every company, registered in the Registrar of Companies, has an obligation to pay a flat annual fee of three hundred and fifty Euros (?350) to the Registrar of Companies by the 30thof June of each year of its operation.

It is noted that, if a company fails to timely pay the annual fee it is subject to a late charge as follows:

  • for payment within two (2) months from the 30thof June (i.e. up until the 31stof August), the charge imposed equals to an additional ten percent (10%) on the original fee, thus making the total amount to be paid three hundred and eighty-five Euros (?385);
  • for payment within five (5) months from the 30thof June (i.e. up until the 30thof November), the charge imposed equals to an additional 30% on the original fee, thus making the total amount to be paid four hundred and ninety Euros (?490).

Companies belonging to a group, for which the total payable fees do not exceed the sum of twenty thousand euros (?20.000), complete and submit the application for the payment of annual fee by allocating the sum amongst the companies in equal parts.

Payment methods of the annual fee

You may proceed with the payment of your company's annual fee, via the following ways:

  • The website of JCCSMART for payments relating to the years 2018 onwards;
  • The e-service of the Registrar of Companies, following registration to AriadneGovernment Gateway, for payments relating to the years 2012 - 2017 (including);
  • By submitting to the Registrar of Companies the relevant Annual fee form by hand/post.

Exemption from payment of annual fee

It is noted that a company that was registered prior to 14thof August 1974, and had its registered office or place of business or all of its assets in an occupied or inaccessible area and that is no longer active and/or does not possess any other asset other than the assets located in areas which are not under the control of the Republic, is not obliged to pay an annual fee. Towards this end, form HE67 must be submitted by hand/post.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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