We would like to inform you about the new regulation that concerns a significant increase in fines for late submission of the annual returns to the Cyprus Registrar of Companies for 2019 along with the audited financial statements of the previous year 2018.

As from the end of January 2020,  late submission of annual returns for 2019 will be subject to the following fines:
• fifty euros (€50) once off,
• one euro (€1) per each overdue day during the first six (6) months, which increases to two euros (€2) per each day with maximum five hundred euros (€500)

To avoid penalties, please contact us as soon as possible to prepare the Financial Statements of 2018 by the end of the year in order to proceed with the submission of the annual return on time.