Cyprus:
Alterations On Cyprus Registrar's Services | Major Legislative Reforms That Come Into Force
05 December 2019
AGP Law Firm | A.G. Paphitis & Co. LLC
To print this article, all you need is to be registered or login on Mondaq.com.
The Cyprus Registrar of Companies office announced the
amendments of the Companies Law Cap. 113, regarding the
administrative fines for the filing of the below application forms
to the Registrar, with enforcement on the 18th of December
2019:
- allotment of shares (HE12);
- change of registered office
(HE2);
- changes to the particulars contained
in the company's register of directors and secretaries
(HE4);
- transfer of shares (HE57); and
- annual return (HE32)
Penalties
Failure to submit the necessary application/notification within
the set time frames provided by the Companies Law (Cap. 113), the
penalties provide the below fine:
- Failure to submit the necessary
filings indicated in points 1 – 4 above: €50 fixed
amount; plus an additional €1.00 for each day of continuation
of the delay with a maximum of a total penalty of €250 for
each delay.
- Failure to submit the necessary
filing indicated in point 5 above: €50 fixed amount; plus an
additional €1.00 for each day of continuation of the delay for
the six first months and an additional €2.00 for each day
thereafter with a maximum total penalty of €500 for each
document.
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.
POPULAR ARTICLES ON: Corporate/Commercial Law from Cyprus
Enforcing ESG Obligations In Supply Contracts
Loyens & Loeff
Now that companies are facing increasing scrutiny of their ESG practices by regulators, investors, customers, and the public at large, supply chain management and related ESG commitments...
Setting Up A Business In Malta: Step By Step Guide (Video)
CSB Group
The Republic of Malta offers a wealth of benefits to those who decide to start a business locally: from tax exemptions to low costs for company formation and maintenance, one can see why foreign investors favour setting up their business on the island.
Going Beyond Borders: The EU Mobility Directive
CSB Group
On the 31st of January, 2023, the Directive (EU) 2019/2121 of the European Parliament and of the Council of 27 November 2019 amending Directive (EU) 2017/1132 as regards cross-border...
Duties Of Directors: Mitigating Liabilities
Fenech Farrugia Fiott Legal
cThe duties of directors are inherently complex. The complexity surrounding directors' can be attributed to three interconnected reasons. First, the duties of directors...