Certified Public Accountants | Statutory Auditors & Tax Advisors in Cyprus
Annual levy - Cyprus company 2021 guide
What is the annual levy
The annual levy is a yearly flat fee of €350 a Cyprus company must pay to the Registrar of Companies by 30 June of each year ref. Cap. 113 §391. Non-payment will initially result in the company being prevented from submitting and requesting any kind of certificates. Subsequently, the Cyprus Registrar of Companies may decide to apply the law and strike-off (i.e. deregister) the company ref. Cap. 113 §327 if the company does not settle its annual levy dues within one year from the due date.
2020 payment deadline
Because of the difficulties experienced by companies as a result of the COVID-19 outbreak, the deadline of the 2021 annual levy has been extended to 31 December 2021ref. Law 43(I)/2020.
The penalty for late payment is 10% (i.e. €35) in the first two months (by 31 August) and 40% (i.e. €140) thereafter.
3 ways to pay
The easiest and simplest way to pay is by debit/credit card, online via JCC (for years 2018 and onwards) or DRCOR eFiling (for years 2012-2017 only). Payments in cash and by cheque are also available.
JCC
JCC is the primary processor of card transactions in Cyprus as well as the main online platform where payments to local suppliers, merchants, organizations and government institutions can be made using a debit/credit card. The settlement of annual fee is available for the years 2018 onwards and requires JCC user registration.
DRCOR eFiling
DRCOR eFiling is the official website of the Registrar of Companies. Payments can be made only for the years 2012 - 2017 and require prior registration with the Cyprus Government Gateway (Ariadne). The website also allows checking the current status of all paid/unpaid amounts of annual levy on any Cyprus company.
Cash or cheque
Cash and cheque payments are acceptable at the cashiers office of the Registrar of Companies in Nicosia located on the ground floor of Xenios Building at the corner Makariou III Ave & Karpenisiou Str.
A dormant company is one that has no activities and does not own any assets. The €350 fee is payable by all registered Cyprus companies, regardless of whether the company is active or dormant.
Only registered Cyprus companies are liable to pay annual levy. Hence, a company incorporated in the second half of the year will start payments from the following year and a company dissolved before 30 June will not have any current year obligations.
Quantia Advisors Ltd is a firm of Certified Public Accountants approved and registered to carry on accounting and audit work in Cyprus. Details about our statutory audit and general practice accreditations can be viewed at the Institute of Certified Public Accountants of Cyprus (ICPAC) under reference E264/A/2013 and E264/G/2013, respectively.
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