Amendments to the Cyprus Companies Law, Cap. 113

We would like to inform you of the new fees/penalties related to the late submission of Annual Reports to be effective by the end of the year 2019 or upon further announcement of the Registrar of Companies.

It should be noted that the 31st December of any year is the last available date for preparation of the annual report of that year. For the year 2019 the last available date for preparation  of the annual report is 31/12/2019 and the last day of submission of the report is 28/01/2020 together with the audited financial statements of 2018

Any delay in submitting the annual report will incur late fines/penalties calculated as follows:
– € 50 (fifty euros) will be charged for each delay.              
– In addition, € 1 (one euro) will be charged for each day of delay during the first six months and then € 2 (two euros) for each day, up to a maximum total of € 500 (five hundred euros).

For the years 2018 and earlier, the annual reports must be submitted by 18/12/2019 otherwise the new late fines/penalties mentioned above will apply. For example, the annual report (HE32) for the year 2018 must be submitted along with the audited financial statements for the year 2017 by the 18/12/2019 in order to avoid the new late fines/penalties.

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