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Cyprus Company Legislation Update – Dormant Companies

The Registrar of Companies recently issued a statement to clarify changes in Cyprus Legislation regarding dormant companies.

The changes are applicable to companies which have assets including real estate, shares or bank accounts that do not generate any income such as rent, dividends or interest from those investments or assets.

Dormant companies are exempt from the payment of the license fee for this year, but are still required to file an application to qualify for exemption. Applications must be filed as soon as possible in order to benefit from the exemption.

We will keep you updated about any changes in local legislation and other useful market information. If you have any questions or would like to discuss how these changes may affect your Cyprus Company, please do not hesitate to contact us.