What a Cyprus company does every year.
We keep one calendar for everything and remind you before each date. The accounts, the audit and the tax returns are prepared by our audit partner and priced separately.
Updated
Who this is for
Every registered company has the same yearly dates, whether it trades or not.
- A company in its first year. The beneficial owners are registered within 90 days of incorporation, the first Annual Return is due within 18 months, and the confirmation window runs from 1 October to 31 December every year.
- A company set up elsewhere. You already have a Cyprus company and want one calendar and one person to ask, with the accounts and audit by a licensed audit firm.
- A dormant company. It did not trade, but it still files the Annual Return with financial statements and confirms its beneficial owners.
- An older company with unpaid levies. Levies for 2012 to 2023 that were never paid lead to the strike-off process from December 2026. Check before you revive or take over a company.
- A company with staff or a VAT number. Monthly payroll and Social Insurance, quarterly VAT and OSS, monthly VIES, all in the same calendar.
The calendar
- 1 October to 31 DecemberEvery year
Beneficial-owner confirmation
The company confirms its beneficial owners in the Registrar's UBO Register, even if nothing has changed. Changes during the year are reported when they happen.
Filed by us.
- Within 28 days of the return dateOnce a year
Annual Return (form HE32)
A snapshot of the company's directors, secretary, shareholders, share capital and registered office, filed with the financial statements for the previous year. The first return is made up to the day after 18 months from incorporation, and each later one to the anniversary of that date.
Prepared by us for a director's or the secretary's signature, and filed by us.
- Each financial yearAudit firm licensed by ICPAC
Financial statements and audit
Every company keeps accounting records and prepares financial statements, which are audited and filed with the Annual Return.
Prepared and audited by our audit partner, priced separately.
- During and after the yearTax Department
Corporate income tax
Provisional tax is paid during the year and the return is filed after it. Corporate income tax is 15% from tax year 2026.
Prepared and filed by our audit partner.
- Quarterly and monthlyWhere registered
VAT, VIES and OSS returns
Quarterly VAT returns, monthly VIES statements and quarterly OSS returns, where the company is registered for each.
Prepared and filed by our audit partner.
- MonthlyWhere there are employees
Payroll and Social Insurance
Monthly contributions and declarations for each employee.
Prepared and filed by our audit partner.
Penalties
Missing the beneficial-owner confirmation costs €100 on the first day and €50 for each further day, up to €5,000. A late Annual Return costs €50 on the first day and €1 for each further day, up to €150 per return, and a company that stops filing can be struck off the register. Late tax and VAT returns carry their own penalties and interest, set by the Tax Department.
The calendar exists so that none of this happens. We ask you for what we need well before each date and tell you when each filing is done.
Documents usually needed
The exact list depends on the company and is sent to you at step 2, "We ask you what we need". For the yearly filings we usually need these.
- For the beneficial-owner confirmation: the company's CY Login and the current list of beneficial owners, with their identity details and the nature and extent of each person's interest.
- For the Annual Return (HE32): the current directors, secretary, shareholders, share capital and registered office, which we check against the Registrar's records, and a director's or the secretary's signature. The financial statements for the previous year are filed with it.
- For the financial statements and audit: the company's accounting records for the year. The directors are responsible for keeping them; our audit partner prepares and audits the statements from them.
- For the tax, VAT, VIES and OSS returns: the same records, period by period, which our audit partner turns into the returns.
- For payroll, where there are employees: each employee's details and salary, for the monthly contributions and declarations.
- For the calendar: the date of incorporation and the financial year end, so that every date is right from the first year.
Common mistakes
- Missing the 1 October to 31 December window. The confirmation is due even if nothing changed and even if the company did not trade. Missing it costs €100 on the first day and €50 for each further day, up to €5,000.
- Thinking one filing covers the other. The Annual Return does not replace the beneficial-owner confirmation, and the confirmation does not replace the Annual Return. They are two obligations to the same Registrar.
- A late Annual Return. It costs €50 on the first day and €1 for each further day, up to €150 per return, and a company that stops filing can be struck off.
- Leaving a dormant company alone. It still files the Annual Return with financial statements and confirms its beneficial owners every year.
- Not telling the Registrar about a change. A change of director, secretary or registered office is notified within 14 days, on form HE4 or HE2, and late notice carries a late-filing fee.
- Forgetting the old levy. The annual levy ended in 2024, but levies unpaid for 2012 to 2023 lead to strike-off from December 2026.
Questions
Is there still an annual company levy?
No. The annual company levy was abolished from 2024.
Does a dormant company have to file?
Yes. Every registered company files an Annual Return with its financial statements and confirms its beneficial owners each year, whether or not it traded.
What is the corporate tax rate?
Corporate income tax is 15% from tax year 2026. The company's tax return and the provisional tax payments during the year are prepared by our audit partner.
Who signs the Annual Return?
A director or the company secretary. We prepare it for signature and file it with the Registrar together with the financial statements.
How much does it cost?
Our prices for the yearly filings are very competitive. Tell us what you need and we reply with your price, in writing, before anything starts. Accounts, audit and tax returns are priced separately by our audit partner. Ask for your price.
Ready when you are.
Tell us where you are, where you are going and what the company will do. We reply with your price, in writing, and a time to talk.
