Registrar of Companies – New Announcements due to spread of Covid-19
31 March 2020
On 23 and 24 March 2020 the Cyprus Registrar of Companies, in the context of the supportive measures introduced by the Cyprus Government due to the spread of COVID-19, has issued formal announcements to extend certain deadlines that are important to the operation of Cypriot companies.
Below we outline the relevant information and announcements:
1. Annual Levy
All Cyprus companies (either dormant or not) are required to pay an Annual Levy in the amount of €350, by 30 June of each year.
The deadline for the payment of the Annual Levy for 2020 has now been extended from 30 June to 31 December 2020 without any penalty charges.
2. Annual Returns
Each Cyprus company shall file its Annual Return (form HE32) accompanied by the financial statements once per calendar year (except in the year of incorporation).
The Cyprus Registrar of Companies has announced that the Annual Returns dated from 1 January 2020 to 31 December 2020 may be submitted to the Registrar until 28 January 2021, without the penalty of €20 for late filing.
3. Striking–Off of non-compliant companies
Cyprus companies that do not comply with the filing of their Annual Returns are subject to be struck off by the Cyprus Registrar of Companies and, in this case, the relevant announcements are made in the Official Gazette of Cyprus allowing non-compliant companies a 3 months’ grace period to comply with the filing requirements.
The process of publication in the Official Gazette of Cyprus for the striking-off of non-compliant companies is now suspended until January 2021.
4. Penalty for late submission
The implementation of the monetary penalty for late submission of relevant forms and notifications to the Cyprus Registrar of Companies (for example, for the change of directors and/or secretary (HE4), change of registered office (HE2), transfer of shares (HE57), allotment of shares (HE12), annual returns (HE32), etc) is postponed to 2021.