LLPO Law Firm
  • Home
    • Law Firm Profile
  • People
    • Michael O. Ioannides >
      • Blog Posts
      • Social
    • Andreas N. Leonidou >
      • Social
    • Christos O. Ioannides >
      • Social
    • Maria Angelides
    • Agathoklis Korellis
    • Andreas Karamanos
    • Nikoletta Agrotou
    • Panayiota Zacharia
    • Marieta Peratikas
    • Rena Afami
    • Yiannis Seraphim
  • Αρχικη
  • ГЛАВНАЯ
  • ΑΝΘΡΩΠΟΙ
  • Litigation
    • Commercial Litigation >
      • People
    • Criminal Litigation >
      • People
    • Personal Injuries >
      • People
    • Banking Litigation >
      • People
    • Class Actions >
      • People
    • Medical Negligence >
      • People
  • Advisory
    • Financial Services >
      • Experience
      • Resources
      • People
    • Corporate >
      • Services
      • Resources
      • People
    • Lotteries, Gaming and Gambling Regulation >
      • Services
    • Educational Services >
      • People
  • Services
    • Alternative Funds (AIF)
    • Mutual Funds (UCITS)
    • Permanent Residence Permit
    • Yacht Leasing Scheme
    • Cyprus International Trusts
    • Cyprus Investment Firms (CIF)
    • Payment Institutions
    • Electronic Money Institutions
  • ΥΠΗΡΕΣΙΕΣ
  • УСЛУГИ
    • Альтернативные Фонды
    • Mutual Funds (UCITS)
    • Паспорт Инвестора ЕС
    • Permanent Residence Permit
    • Yacht Leasing Scheme
    • Cyprus International Trusts
    • Cyprus Investment Firms (CIF)
    • Payment Institutions
    • Electronic Money Institutions
  • Blog
  • Contact
  • Επαφη
  • КОНТАКТЫ
  • Финансовые Услуги
  • Корпоративные Услуги
    • Услуги

Annual Charge for Cyprus Companies

27/11/2011

0 Comments

 
As from 2011 all registered Cyprus companies are obliged to pay an annual charge of Euro 350 in order for the companies to be in good standing and to remain in the register of Cyprus companies at the Registrar of Companies. For Cyprus companies which belong to a group of companies the total amount of annual charges of such companies cannot exceed Euro 20.000, therefore the cap of Euro 20.000 can only apply where over 57 Cyprus companies are within in a group.

Time limits for payment of the charge
The Companies have an obligation to pay the annual charge by 30th June of each year. For the year 2011 the deadline for the payment of the annual charge is set for 31st December 2011.

Who is obliged to pay
Companies registered in 2010 or earlier are obliged to pay the charge of Euro 350 for the year 2011 by 31st December 2011 and thereafter must pay Euro 350 by 30th June of each subsequent year. For example, a company registered on 25th April 2009 has an obligation to pay the charge of Euro 350 by 31st December 2011 and then Euro 350 by 30th June 2012 and thereafter Euro 350 by the 30th June of each subsequent year.

The obligation for payment commences on the year subsequent to the year of incorporation.

Companies registered in 2011 and after are obliged to pay the charge of Euro 350 annually by 30th June of the following year. For example, a company registered on 20th February 2011 shall be obliged to pay Euro 350 by 30th June 2012 and thereafter Euro 350 by 30th June of each subsequent year.

A company registered on 12th January 2012 shall be obliged to pay the annual charge by 30th June 2013 and thereafter Euro 350 by 30th June of each subsequent year.

Penalties for late payment
• In case of a delay of up to two months there is a 10% penalty.
• In case of a delay between two and five months there is a 30% penalty.

If a company does not comply with the obligation for the payment of the fee within the above-mentioned time limits, the Registrar of Companies shall proceed with striking off the company from the register of companies. This means that after the fifth month of delay, the Registrar of Companies may refuse to issue any certificates (including certificates of good standing) or to proceed with any applications for changes at the Registrar of Companies.

A company may be re-instated within two years from the date of strike off from the register automatically provided a fee of Euro 500 (in addition to the outstanding amounts of the charge) is paid.

A company may be re-instated after two years from the date of the strike off from the register provided a fee of Euro 750 (in addition to the outstanding amounts of the charge) is paid.

Exemptions to the obligation for payment of the annual charge
Subject to the discretion of the Registrar of Companies, the annual charge of Euro 350 shall not apply to the following companies:

• Companies with neither assets nor turnover; or
• Companies with assets but no turnover; or
• Companies with turnover but no assets; or
• Companies with assets in the occupied areas, i.e. not controlled by the Republic of Cyprus.

Examples of companies that do not have to pay include shelf companies and holding companies with no income arising from their holding activity.
For more information and inquiries check our cyprus company registration website.
0 Comments

CYLON’s Quarterly Investment Forum

7/11/2011

0 Comments

 
Picture
On 20th of October Cylon’s Quarterly Investment Forum was launched in UK, London. This event was well attended and the registration for the Platinum Club has exceeded our expectations.

Platinum Club is a members networking Club and membership is by invitation only.Platinum Club Members will be entitled to receive newsletters of past and forthcoming events and to have the opportunity to participate in forthcoming Quarterly Investment Forums. If you wish to join the Platinum Club please click on the link and complete our registration form.

The comments that have been received for the two presentations were very encouraging so we have decided to make them easily accessible. Presentations from both Anagenesis Corporation and from Kitara Capital can be found on this website. If you wish further information or to arrange a meeting with their representatives contact please let us know and we will be pleased to make the appropriate arrangements.

Our next Quarterly Investment Forum is scheduled to take place on 26th of January 2012 and you are more than welcome to participate. We have also scheduled a series of Industry Reviews, the first planned next February and will be focused on the ENERGY & RENEWABLES Industry.
0 Comments

UK Agreement with Switzerland: Investors reviewing options

6/11/2011

0 Comments

 
In a long awaited move, an agreement between United Kingdom and Switzerland was signed on 24th of August 2011.

The agreement provides for a 19% to 34% one off deduction of all United Kingdom individual taxpayers. Such deductions will settle past tax liabilities for all accounts that are to remain undeclared. For declared accounts deposits will be taxed in accordance with the usual United Kingdom rates.

From 2013, incomes and gains arising of investments held by individual UK taxpayers in Swiss banks will be subject to a new withholding tax which would be ongoing in nature.

Last but most importantly the agreement provides for a very “powerfull” procedure enabling United Kingdom to discover whether a taxpayer has an account in Switzerland. The provisional is additional and more powerful than the provisions for information exchange under the UK-Switzerland Double Taxation Agreement.

Check out HRMC newsletter on the issue:
Agreement with Switzerland to secure billions in unpaid tax – HM Treasury:

It is almost certain that the new agreement will push individual investors to banking institutions of other Business and Banking Centres, especially across EU. The Banking Institutions of Cyprus and Luxemburg seem like the most likely to be benefited from the move of such funds.

0 Comments

    Archives

    September 2020
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    August 2018
    July 2018
    June 2018
    March 2018
    October 2016
    September 2016
    November 2015
    October 2015
    September 2015
    April 2014
    March 2014
    March 2013
    February 2013
    January 2013
    December 2012
    November 2012
    June 2012
    April 2012
    March 2012
    February 2012
    January 2012
    December 2011
    November 2011
    October 2011
    September 2011
    April 2011
    March 2011
    November 2010

    Categories

    All
    Accident
    Alert
    Andreas Leonidou
    Bail In
    Banking
    Betting
    Business
    CFC
    CHF
    Christos Ioannides
    CIF
    Citizenship
    Company
    Corporate
    Criminal Law
    CSE
    Customs
    Cylon
    Cyprus
    CySEC
    David Anderson
    Depositors
    Dividends
    Double Tax Treaties
    ECM
    Education
    Enviromental
    Eurogroup
    Europe
    Exclusive Economic Zone
    Financial
    Finland
    Foreign Currency
    Forum
    Framework
    Fraud
    Gambling
    Greece
    Health & Safety
    ICIS
    India
    Innovation
    Investors
    IP
    Law
    Lawsuit
    Legislation
    Levy
    Luxemburg
    Maria Panayiotou
    Michael Ioannides
    News
    NOMAD
    Oil And Gas
    Passport
    Portugal
    Property
    Property Rights
    Real Estate
    Residence Permit
    Russia
    Securities
    Spain
    Switzerland
    Tax
    Ukraine
    Unitary Patent
    United Kingdom
    Universities
    VAT
    Yacht

    RSS Feed

Cyprus (Head Office)

15 Agion Omologiton Avenue
1080, Nicosia 

Cyprus
✆ +357 22 452 600 
⎙ +357 22 452 611

Greece

05 Paleologou Street 
18535, Athens 
​
Greece
✆ +30 210 3617152
⎙ +30 210 3617153

United Kingdom

235 Regents Park Road
London N3 3LF 
United Kingdom

✆+44 203 588 4107

Picture
   info@llpolawfirm.com
© 2015 LLPO Law Firm. All Rights Reserved.