Annual Government Fee for Cyprus Companies

 Annual Government Fee for Cyprus Companies

The Cyprus parliament voted on the 26th of August 2011, as an additional measure to be taken against the global economic crisis, a new legislation imposing an Annual Government Fee of Euro 350 to be paid by all Cyprus registered companies.

According to the legislation, payment must be made by the 31^st of December 2011 as far as year 2011 is concerned. As from year 2012 and on, payment must be made by the 30^th of June for each subsequent year.

In case of delayed payment, there will be a penalty of 10% if payment is made within 2 months or 30% if payment is made within 5 months. The fee is payable at the offices of the Registrar of Companies.

                                                                    6 October 2011