Annual levy abolished

On 15 March 2024, an amendment to the Cyprus Companies Law was published in the Official Gazette of the Republic (N. 25(I)/2024) abolishing article 391 of the said Law and by extension the obligation of each company to pay an annual levy of €350 to the Registrar of Companies. The amendment has retrospective effect as from 1st January 2024.

It should be noted however that the obligation for companies to pay the annual levy for the years 2011 to 2023 shall continue to apply.

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