Penalties for late submission of Cyprus Company’s annual return (HE32) with the Cyprus Registrar of Companies

The Cyprus Registrar of Companies has recently imposed penalties for the delayed submission of a Cyprus Company’s Annual Return (HE32), effective from 18 December 2019.

According to the current Cyprus Company Law, all Cyprus companies are required to file to the Cyprus Company Registrar the Company’s Annual Return (HE32), which must be accompanied by the Company’s audited financial statements of the previous year.

According to the amended Cyprus Company Law, annual returns of Cypriot companies for all previous years should be submitted to the Cyprus Companies Register by 18 December 2019 in order to avoid penalties.

Penalties for last year’s Cyprus Companies’ Annual Returns not yet submitted to the Cyprus Companies Registrar, accompanied by relevant previous year’s audited financial statements 

  Any delay in filing each past year’s Company’s Annual Return will result in a total charge of €40

Penalties for 2019 Cyprus Company’s Annual Return accompanied by audited financial statements of the year 2018

Cyprus Company’s Annual Return for the year 2019 accompanied by 2018 audited financial statements can be submitted on or before 28 January 2020. Any delay in submitting 2019 Annual Return will result in the following additional penalties:

• €50 one-time penalty; plus
• €1 for each day of delay during the first six months and then €2 for each day of delay after the first six months, up to a maximum total of €500.

Example 1: If the Cyprus Company had to submit its annual return of 31 December 2017 accompanied by the audited financial statements of the year 2016 by 28 January 2018 and it did not do so, then there will be a total charge of €40.

Example 2: If the Cyprus Company had to submit its annual return dated 31 December 2019 accompanied by the audited financial statements of the year 2018 by 28 January 2020 and it did not do so, then there will be a charge of €20 plus a penalty charge of €20 and then an additional penalty of €50 and €1 euro for each day of delay during the first six months and then €2 for each day of delay after the first six months, up to a maximum total of €500

Since Cyprus Companies’ Annual Returns can only be submitted to the Cyprus Registrar of Companies if they are accompanied by the audited financial statements of the previous year, it is imperative that all audited financial statements up to the year 2018 inclusive should be prepared

Contact us
For any assistance in submitting your company’s annual returns please contact us on :

Email: info@pkf-nic.com
Telephone + 357 22 462727

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