In accordance to the amendment passed into the Cyprus Companies Law, Cap.113 by the Company Law (Amendment) Law 2024, L.25(I)/2024, which was published in the Cyprus Gazette on the 15th March 2024, the application and imposition of an Annual Levy payable to the Registrar of Companies by all companies registered in Cyprus has been abolished.
The abolition is effective and valid as of the year 2024. As it has been clarified by the Department of the Registrar of Companies, any unpaid and outstanding levies relating to the years 2011 up to and including the year 2023 shall remain appliable, due and payable.
Any companies who have already paid for the 2024 annual levy to the Registrar of Companies are eligible to receive a refund of the full amount paid for the year. The refund can be claimed as follows:
- For any payments which were made by the online system of JCC, the amount will be automatically refunding to the same card from which the payment was made. No further actions are required by the applicant to this effect.
- For any payments made at the office of the Registrar of Companies (via physical present), the amount will be returned to the applicant upon submission of a refund request (by using the KE1 Form, which is available online at the website of the Registrar of Companies). The said form has to be accompanied by the FIMAS Authorization form and a copy of the relevant IBAN certificate for the applicant.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.