Imposition of fines due to late filing- Amendments in Cyprus Companies Law (CAP. 113)
As of 18th of December 2019, the Registrar of Companies shall impose an administrative fine in case of late filing of the below notifications with the Registrar of Companies. The administrative fine shall amount to €50 plus €1 every day onwards counting from the day the deadline was exceeded and shall not exceed the amount of €250 for each default.
(a) Notification in relation to the allotment of shares;
A company limited by shares or a company limited by guarantee and having a share capital makes any allotment of its shares, the company shall within one (1) month thereafter deliver to the registrar of companies for registration.
(b) Notification in relation to the change of the Company’s registered office;
Notice of the situation of the registered office, and of any change therein, shall be given within fourteen (14) days after the date of change.
(c) Notification in relation to the transfer of shares;
Any transfer of shares of a private company with a share capital shall be notified to the Registrar of Companies within fourteen (14) days from the registration of this transfer.
(d) Notification in relation to the change of the company’s directors and or their details.
The period within which the said notification of a change is to be sent shall be fourteen (14) days from the date thereof.
Please contact us as soon as possible in order to ensure compliance with the above requirements and avoid any penalties.