All companies that are registered in Cyprus (including dormant) should pay the annual Levy of €350 by the end of June every year. Newly incorporated companies are exempt, if they are incorporated after the 30th of June.
Penalties for not paying on time are as follows:
- For payments after 30th of June until 31st of August, 10% penalty
- For payments after 31st of August until 30th of November, 30% penalty
Failure to comply with the above provisions can result to the removal the company from the Companies Registry.
The Levy can be paid online here.