Abolishment of Annual Levy

The President of the Republic of Cyprus, announced on 21 February 2024, the decision of the Council of Ministers to abolish the annual levy of Euro 350, which was payable by all companies registered in Cyprus to the Registrar of Companies.

The payment of the annual levy has been a statutory obligation for all companies registered in Cyprus since 2011.

This decision seeks to further support the businesses of the island and shall be applicable from 2024 and onwards.