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The Department of Registrar of Companies and Intellectual Properties announced that, according to the Amending Companies Law 2024, N.25(I)/2024, published in the Official Gazette of the Republic on March 15, 2024, the annual levy for the companies registered in the Cyprus' Registrar of Companies will be abolished from 2024 onwards.

The annual levies for the years 2011 – 2023 will continue to apply.

All companies that have already paid the 2024 annual levy, will be refunded as follows:

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

• For payments made at the Department of Registrar of Companies and Intellectual Properties, the amount will be refunded to the applicant’s bank account after submitting the KE1 form, the payment receipt, along with the authorization form for payments from FIMAS, accompanied by a photocopy of the bank account statement to be credited, as described in the Authorization Form.

 

We remain at your disposal for anything you may need in connection with the above.

 

Contact person


Stelios Ioannou

Managing Director

This email address is being protected from spambots. You need JavaScript enabled to view it.

+357 22 100 192 

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The Department of the Registrar of Companies and Intellectual Property, with a view to updating the Register of Beneficial Owners on the basis of the upgraded digital platform, announces the extension of the submission of Beneficial Owners details, for all Companies and other legal entities, until March 31 2024. After this date, non-compliant Companies and other legal entities will receive penalties according to the Prevention and Suppression of Money Laundering and Terrorist Financing Law 188(I)2007, enacted by the House of Representatives on 23/02/2021.

 

We remain at your disposal for anything you may need in connection with the above.

 

Contact person


Stelios Ioannou

This email address is being protected from spambots. You need JavaScript enabled to view it.

+357 22 100 192

Managing Director

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On 29 December 2023 the Minister of Finance issued the Decree No 5844, which sets the interest rate for late payments of taxes at 5% per annum. The Decree is applicable as of 1 January 2024.

 

We remain at your disposal for anything you may need in connection with the above.

 

Contact person


Stelios Ioannou

This email address is being protected from spambots. You need JavaScript enabled to view it.

+357 22 100 192

Managing Director

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As from 01/01/2024, the Social Insurance Contributions rate increased to 8,8% (from 8,3% in 2023).

This rate is applied to a maximum level of emoluments. For 2024, the yearly maximum level of emoluments increased to €62.868 (from €60.060 in 2023).

The rate of 8,8% applies for both the employer and the employee as from 1 January 2024 and for the next five years. Thereafter, the rate will increase every five years by 0,5% until it reaches 10,3% as from 1 January 2039.

Likewise, Social Insurance Contributions rate of Self-employed individuals also increased to 16,6% (from 15,6% in 2023).

 

We remain at your disposal for anything you may need in connection with the above.

 

Contact person


Stelios Ioannou

This email address is being protected from spambots. You need JavaScript enabled to view it.

+357 22 100 192

Managing Director

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