Filing of the companies’ Annual Returns and penalties

All Cyprus companies have an obligation to file with the Registrar of Companies an Annual Return (HE32), which must be accompanied by the company’s audited financial statements of the previous year.

In accordance with the new Law N. 149(I)/2018 the Annual Returns (HE32) for all the years up to and including 2018 must be submitted until 18 December 2019.

If the filing is not carried out on time an administrative fixed penalty of €50 will be charged plus an additional charge of €1 will be imposed for every day that passes the deadline for the first six months and €2 for every day later, up to the maximum penalty charge of €500.

From 18 December 2019 onwards, a company’s Annual Return for 2019 and future years must be submitted to the Registrar of Companies within 28 days from the date of its preparation in order to avoid the new penalties. For example, a 2019 company’s Annual Return that has been prepared on 31 December 2019 must be submitted by 28 January 2020.