In case the fee is not paid on due time, then the following penalties will be imposed:
- 10% penalty for up to a 2 month delay
- 30% penalty for delay between 2 and 5 months
Non-payment of the levy may result in deregistration / strike-off of a company by the Cyprus Registrar of Companies. In this case, the company to submit documents or request certificates from the Registrar of Companies.
If a company is re-instated within a two year period from its deregistration / strike-off a fixed penalty of €500 is charges in addition to the outstanding amount of the levy. The fixed fee will be increased to €750 where a company is re-instated after the two year period.
The above should be used as a source of general information only. It is not intended to give a definitive statement of the Law and is subject to the Disclaimer.
For further details on these issues, please do not hesitate to contact us.