New administrative penalties for late filings to the Registrar of Companiesnconstantinou
The Registrar of Companies , with effect from 18 December 2019 will impose administrative penalties on certain filings submitted after the prescribed timeframes as provided by the Law.
In relation to annual returns (i.e. filing of audited financial statements) the administrative penalty to be applied for late filing is €50 plus an additional charge of €1 for each day of delay for the first 6 months and thereafter €2 for each day of delay.
The maximum penalty for each annual return is €500.
In addition, from 18 December 2019 the Registrar of Companies shall also impose administrative penalties on companies for the late submission of the relevant forms for changes in registered address, directors, directors’ occupation and addresses, allotment and transfer of shares. The administrative penalty that shall be applied is €50 plus an additional charge of €1 for each day of delay up to the maximum total penalty of €250 per relevant form.