ANNUAL FEE PAYABLE TO THE REGISTRAR OF COMPANIES – RECENT CHANGES

Certain changes were effected to the relevant provisions of the Companies Law dealing with the payment of the annual fee of EUR 350 to the Registrar of Companies. The Companies (Amending No. 3) Law of 2012 (Law 190(I)/2012) which was published on 21/12/2012 in the official gazette of the Republic of Cyprus, abolished the exceptions which were in force as regards the payment of the above annual fee in the following cases:

(1) Exception from the payment of the annual fee by dormant companies or companies or group of companies which do not own any assets; (2) Exception from the payment of the annual fee during the year of incorporation of a company; and (3) Payment of a ceiling amount of EUR 20.000 as annual fees in case of group of companies

All these changes have been entered into force as at 21/12/2012.