articles | 22 March 2024

Annual fees to be abolished, refunds to be issued, registrar confirms

The Department of Registrar of Companies this week said that annual fees for companies registered with it are abolished from 2024 onwards, however, annual fees for the years 2011-2023 continue to apply.

The announcement noted that, according to the Companies (Amendment) Law 2024, Law No. 25(I)/2024, which was published in the Official Gazette of the Republic on March 15, 2024, the annual fees for companies registered with the Registrar of Companies are abolished from 2024 onwards. “The annual fees for the years 2011-2023 continue to apply,” the announcement added. For companies that have already paid the annual fee for 2024, a refund will be issued, the announcement clarified. 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.

Furthermore, in the case of payments made at the Treasury of the Department of Registrar of Companies and Intellectual Property, the extra 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.

This process should be accompanied by a photocopy of the bank account statement that is to receive the credit, as outlined in the authorisation form, the announcement concluded.

Source: Cyprus Mail

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