Administrative Fines imposed by the Registrar of Companies for late filing as of 18 December 2019
Cyprus Companies Law, CAP 113 (Law 149(I)/2018) amendments initiate an administrative fine by the Registrar of Companies to companies failing to submit certain returns within the specified time, with effect as from 18th of December 2019.
The parliament unanimously voted for the extend of that date for the fines to be imposed as from 18 April 2019.
Failing to submit the below necessary filings and the fines imposed
Annual Returns
Late filing of annual returns forms that apply to companies which have not yet prepared audited financial statements for all years up until 2018 and have not yet filed annual returns for all years up until 2019.
Allotment of Shares
€50, with an additional €1.00 for each day of continuation of the delay with a maximum of a total penalty of €250 for each delay.
Change of the Registered address
€50; with an additional €1.00 for each day of continuation of the delay with a maximum of a total penalty of €250 for each delay.
Transfer of Shares
€50; with an additional €1.00 for each day of continuation of the delay with a maximum of a total penalty of €250 for each delay.
Change in the name, address and particulars of registered shareholder
€50; with an additional €1.00 for each day of continuation of the delay with a maximum of a total penalty of €250 for each delay.
Changes to the directors and/or secretary and their details
€50; with an additional €1.00 for each day of continuation of the delay with a maximum of a total penalty of €250 for each delay.
Statutory specidied timeframes for sumbitions mentioned above:
Our firm will be able to assist you with the above recent developments.
Should you require any further information/clarifications with regards to the above feel free to contact any member of staff of our firm.
