Annual License Fee of €350

All Cyprus registered companies (except those which have already been put under liquidation or those for which a liquidator has been appointed or those which are in the process of winding up their operations) are subject to Annual Special Levy or (Annual License Fee) of €350 and the deadline for its payment is 30 June.

Penalties

The following penalties will apply in case a company delays to pay the special annual levy but will proceed with payment within:
•    Two months from the due date, a penalty of 10%
•    Five months from the due date, an additional penalty of 30%
In case a company does not comply with the payment of the levy and any penalties that might occur, the Cyprus Registrar of Companies without notification will strike off the company from its record.  Companies being struck off may be reinstated if the amount of €490 is paid per year following the strike off date.

Exemptions

A company is not obliged to pay the levy in the year of its incorporation or in respect of the year of its incorporation if its incorporation date is on or after the 1st July. In the case of companies belonging to a group of companies, the total amount of levies to be paid by all the companies of the group shall not exceed €20.000.  Such amount shall be equally spread amongst all companies of the relevant group.

Payment

If you require further guidance or advice or you wish to proceed with payment kindly contact your CPM administrator or CPM Relationship Manager.