Obligations and payments (Fees)

Annual Government Levy. Every company incorporated in Cyprus must pay an annual levy of €350 to the Registrar of Companies by 30/6 every year. Failure to pay will result in penalties imposed on the Company and ultimately the dissolution of the Company by the Registrar of Companies.The Company’s name will be struck off from the Registrar of Companies as a defunct company.
Annual Return. The Company is obliged to file an annual return with the Registrar of Companies. This Annual Return is accompanied by the Company's audited financial statements, which were presented at the Company's Annual General Meeting. Failure to file the annual returns and the audited financial statements could result in the dissolution of the Company by the Registrar of Companies through a strike off of the Company's name from the register of companies maintained by the Registrar of Companies as a defunct company. Furthermore, the late filing of the annual return could result in fines which may amount to up to €500 per each late filing fee.
Accounting/Bookkeeping services. The Company must maintain proper bookkeeping records of all transactions.
Annual statutory audit. The Company must annually prepare audited financial statements in compliance with the IFRS standards, and the Company needs to appoint an audit firm in Cyprus for this particular purpose.
Tax compliance services. The Company must annually file all the relevant tax and other returns required by Law.