Registrar Of Companies – N. Constantinou & Co Audit Ltd | Cyprus Audit, Tax, Company incorporation, Consulting

Extension to the deadline for payment of the 2021 annual company levy

nconstantinou — Wed, 15 Sep 2021 14:09:05 +0000

The deadline for the payment of the 2021 annual company levy has been extended from 30 June 2021 to 31 December 2021.

If the payment is made after 31 December 2021, the standard penalties will apply.

Non-payment of the annual company levy can result in the deregistration of a company from the Register of the Cyprus Registrar of Companies.

Ultimate Beneficial Owners (UBOs) Register of Companies and Other Legal Entities in Cyprus

nconstantinou — Wed, 07 Apr 2021 06:25:22 +0000

Companies and other legal entities can begin to submit the details of their beneficial owners into the intermediate system solution as of Tuesday, 16 March 2021.

Starting from this date, a period of twelve (12) months is granted to all existing entities to submit their beneficial owners’ information into the system. During the intermediate solution period no penalties will be imposed for late submissions.

The electronic service for the registration of beneficial owner particulars for companies and other legal entities is available under the section “e-filing services” of the Companies section in the RoC website.

Entities registered on or after 16 March 2021, are required to submit all of the required information in respect of each of their beneficial owners to the UBO register no later than thirty (30) days from the date of their registration.

The responsibility for the true and accurate submission of the beneficial owner(s) information lies with the company or other legal entity itself and with its officers.

In case of a change in the information of a beneficial owner, the company or other legal entity and its officers must submit to the UBO register the information regarding the new beneficial owner within fourteen (14) days.

During the period from 1 to 31 December of each calendar year, every company or other legal entity must confirm electronically to the RoC the information in relation to its beneficial owners.

In exceptional circumstances, beneficial owners have the right to apply to restrict public access to their information.

New administrative penalties for late filings to the Registrar of Companies

nconstantinou — Sun, 19 Jan 2020 09:57:46 +0000

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.