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INTRODUCTION OF ADMINISTRATIVE FINES FOR LATE FILINGS TO THE REGISTRAR OF COMPANIES

As part of the latest amendments to the Cyprus Companies Law, Cap. 113, the Registrar of Companies shall impose administrative fines for certain late filings, effective as from the 18th of December 2019. ​ In particular, for the late filing of the company’s Annual Return (HE32), the Registrar of Companies shall impose an administrative fine amounting to a fixed penalty of €50,00 plus an additional charge of €1,00 for every day for which the default continues within the first 6 months and then €2,00 for every day thereafter for which the default continues. However, such administrative fine shall not exceed the amount of €500,00 for each default. ​ The Annual Return (HE32) is always accompanied by the...

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