Intelisoftcy Limited announce that the annual fee of €350 for companies registered with the Cyprus Registrar of Companies and Official Receiver has been abolished from 2024 onwards.

On 29 February 2024, the House of Representatives approved a Government Bill to abolish the Annual Levy and pledged to refund the money to the entities that have already paid the levy for 2024.

Specifically, for online payments made through JCC, the additional amount will be refunded directly to the card used for payment, without any further action required by the applicant.

In the case of payments made at the Treasury of the Department of Registrar of Companies, the amount will be reimbursed to the applicant’s bank account following the submission of Form KE1, the payment receipt, and the authorisation form for payments from FIMAS.

The levy requirement has been in place as a statutory obligation for all Cyprus companies since 2011. The decision to abolish it is part of a broader government package of economic measures aimed at supporting both local and international businesses established and operating on the island.

Annual fees for the years 2011 to 2023 will continue to apply and companies that have not yet paid the levy for any of those years will have to proceed with its payment, including applicable penalties:

1. 10% on the initial amount due (€35) if not paid within 2 months from the due date of 30 June of each applicable year;
2. 30% on the initial amount due (€105) if not paid within 3 months from the imposition of the first penalty of each applicable year, thus raising the total amount payable to €490.

*The InteliSoftCY company does not assume any responsibility for payment of the above fee on behalf of its customers.