We would like to inform our clients, associates and friends that the Cyprus Registrar of Companies (ROC) has announced that as from the 18th of December 2019, any company annual returns which are not filed within the deadlines specified by the law, will incur a 50 EUR penalty fee.

This ROC penalty fee will increase by 1 EUR for each day of non-compliance for the first 6 months and 2 EUR per day thereafter. The maximum penalty fee ceiling has been set at 500 EUR.

The same penalties shall also apply for other late filings with the ROC in relation to transfer of shares.

The ROC is undergoing a reorganisation and all forms submitted to the department shall be redesigned, therefore new forms shall be introduced in the near future.

Please get in touch with us for any assistance or additional information.

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