Since 2011, it has been a legal obligation for all companies registered in Cyprus to pay this annual levy. We would like to inform you that on March 21, 2024, the Department of the Registrar of Companies and Intellectual Property announced that, according to the Companies (Amendment) Law 2024, L.25(I)/2024, which was published in the Official Gazette of the Republic on March 15, 2024, the annual fee for companies registered in the Registrar of Companies' Register will be abolished starting from 2024.
As per the Amending Law 2024, L.25(I)/2024, dated March 15, 2024, companies that have already paid the annual fee for 2024 will receive a refund as follows:
- For payments made to the Cashier of the Registrar, any excess amount will be refunded to the applicant's bank account upon presentation of form KE1 (in Greek), the payment document, and the authorization form to the Cashier of the Department.
- For online payments made through JCC, any excess amount will be directly refunded to the card used for payment, without any additional action required from the applicant.
It is important to note that the obligation to pay the annual fees for the years 2011 to 2023 will still apply.
On February 21, 2024, the Government announced a set of targeted measures to support the Cyprus economy. One of these measures is the elimination of the €350 Annual Leavy that all registered entities were required to pay to the Registrar of Companies and Intellectual Property.