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Change of Structure of Cyprus Companies- New Legislation

Change of Structure of Cyprus Companies- New Legislation

Due to the new Law N149(I)/2018 which will be enforced on 18 December 2019, the following changes of structure of a Cyprus company must be submitted to the Registry within 14 days from the date of the change on the relevant forms(HE2, HE4, HE57, HE12), which will be submitted to the Registry.

In the case of default, the following administrative fines will be charged:

  • For every delayed submission an initial fixed penalty of €50 (fifty Euro) will be charged plus
  1. Change of registered office of company(HE2 form)

 2. Change of Director and/or Secretary of the company(HE4 form)

  • An additional charge of €1 (one Euro) will be imposed for every day that passes the deadline up to the maximum penalty charge of  €250 (two hundred and fifty Euro)
  1. Change of Shareholder of the company (HE57 form)

2. Shares Allotment(HE12 form)

 

  • For example: If you have to submit HE4 form with date of change 15/12/2019 and you submit it on 30/12/2019 an initial fixed penalty of €50 (fifty Euro) will be charged plus an additional charge of €1 (one Euro) for every day that passes the deadline up to the maximum penalty charge of  €250 (two hundred and fifty Euro).
    We draw your attention to the fact that this article is for informational purposes only. For more advice, contact us at the contacts listed on the site.

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