Cyprus companies have the right to pay their Annual Levy for the year 2021 up to the end of the current year, i.e. until 31 December 2021, with no additional charge.
Cyprus Department of Registrar of Companies made the respective
announcement on 08 July 2021.
The new Law provides for the exceptional exemption of the deadline for payment of the special Annual Levy until 31 December 2021.
Despite the date of the announcement, the Law will have a retrospective effect and therefore shall be deemed to come into effect on 30 June 2021.
The Annual Levy is a flat special governmental fee of three hundred and fifty euros (€350), which is payable to the Registrar of Companies. Annual Levy applies to all limited liability companies incorporated in Cyprus starting from the date of their inception.
Normally the due date for the Annual Levy in Cyprus is 30 June of each year of a company operation.
Companies, which do not comply with this requirement, are subjects to a late charge as follows:
- Penalty of 10 % (€385 must be paid) imposes on a company in case the payment is delayed by two months (paid till 31 August);
- Penalty of 30 % (€490 must be paid) imposes on a company in case the payment is delayed by five months (paid till 30 November);
- In case the payment is delayed by more than five months Registrar of Companies proceeds to strike-off non-complied company from the Registrar;
Exemption from the Annual Levy is applied to:
- Companies, located in the occupied (or inaccessible) territory and haven’t conducted any activity within the free areas;
- Companies under the liquidation (strike off) process;
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 the annual fee by allocating the amount amongst the companies in equal parts.
The Registrar provided the following methods of payment for the Annual Levy:
- JCCSMART website (https://www.jccsmart.com) or the Department's cash registry for the payment of the Annual Levy for the years 2018 and on.
- Payments for the previous years (i.e. for 2012 – 2017) have to be made either at the Department's cash registry or through the website of the Department of Registrar of Companies after first connecting to the Government Portal "Ariadne".
