23 Oct Cyprus Registrar of Companies penalties
Following recent amendments to the Cyprus Companies Law, Cap. 113 the Cyprus Registrar of Companies will impose administrative penalties on certain filings submitted after the prescribed timeframes as provided by the Law. These penalties will be effective from 18 December 2019 and are as follows:
The administrative penalty to be applied for late filing is €50 plus an additional charge of €1 for each day of delay for the first 6 months and thereafter €2 for each day of delay. The maximum penalty for each annual return is €500.
Changes in company representation
From 18 December 2019 penalties will be levied on companies for the late submission of the relevant forms for changes in registered address, directors, directors’ occupation and addresses, allotment and transfer of shares. The amount of the penalty will be €50 plus an additional charge of €1 for each day of delay up to the maximum total penalty of €250 per relevant form.