Cyprus: Corporate Measures undertaken by the government in response to COVID-19

As part of the measures taken by the Cypriot government to support companies/businesses affected by the restrictive measures which have been imposed in order to contain the spread of the coronavirus (COVID-19), the Department of the Registrar of Companies and Official Receiver (the “RoC”) has announced the following:

1. The process of publication, in the Official Gazette of the Republic, of the 3-months’ notice prior to the strike-off of companies that fail to comply with their obligations to file outstanding annual returns is suspended until January 2021;

2. The possibility of payment of the annual levy of €350 for 2020 is extended to 31 December 2020, without the imposition of the penalty of 10% and 30%;

3. The implementation of the monetary penalty for late submission of forms to the RoC – for example, for the change of directors and/or secretary (HE4), change of registered office (HE2), transfer of shares (HE57), allotment of shares (HE12), annual returns (HE32) etc. – is postponed to 2021; and

4. The annual returns (HE32) with preparation date from 01/01/2020 to 31/12/2020 may be submitted to the RoC by 28/01/2021, without the imposition of the additional penalty of €20 for late submission.