Cyprus Company Registrar – Cyprus Company Registry
As the name suggests, the Cyprus Registrar of Companies, is the top official, appointed by the Cyprus Government, specifically for the purpose of overseeing the sector of the Cyprus Company and its operation within the limits of the Cyprus Law. The Cyprus Registrar of Companies is the top official for all Cyprus Companies activities. He oversees the whole process of a Cyprus Company Formation. Some of his duties are the issuing of the necessary incorporation certificates, the use of a legally acceptable Company name, the abiding by the company owners of all the regulations, the correct process and way of all changes in a company structure and finally the striking off the records or winding up of companies and much much more. According to the Law Cap 113, the Registrar, has the power to intervene in the company formation and other formalities even months after a company has been incorporated and registered in the Cyprus Company Registry and correct any mistakes or illegalities that have taken place in the incorporation of any company. The offices of the Cyprus Company Registry are located in Nicosia, the capital of the island. Anyone is able to visit these offices and request information for any company. He can even inspect the file and take notes of all documents therein. No copies are given out however. Anyone can also visit the offices for filing any document in the file of his company or for filing a petition for new certificates of his or any other company. He can even file a new company for incorporation provided they have been signed by a professional lawyer. Filing Forms HE 32, HE 4, HE 57, financial statements and any other documents required by law can be done by any person. No need to be a lawyer. Some times the payment of a fee is necessary.
Cyprus Company Registrar to Collect the 350 Euro
By recent amendment of the company law, all companies registered in Cyprus must pay a yearly renewal fee of 350 Euro. This must be done for the years 2012 onward. One of the latest duties on the Cyprus Companies Registrar is to ensure that this renewal tax of 350 Euros for each company for each year is paid in time. Such fee is levied on all Cyprus companies whether active or dormant from the year 2012, and it must be paid by all companies by the 30th of June each year. If it is not then a fine of 10% is levied for the first two months of delay. Then a fine of 40% is levied, and if it is still not paid five months after the 30th of June, the Registrar’s duty is to strike the company off the records. The Registrar has the right to reinstate such company if within the first two years of being struck off the Company pays 500 Euros fine, and after that 750 Euros fine.
THE FILING OF FORM HE 32 WITH FINANCIAL STATEMENTS ATTACHED.
One very important duty of every company incorporated in Cyprus is to file every year the Form HE 32. This form presents a latest state of the company and its officials. It must be filed with Financial Statements which give a fair and accurate review of the company`s financial standing. The Cyprus Registrar by the provisions of the Cyprus Company law Cap 113 article 118, must ensure that each and every one of all companies registered in the Cyprus Company Registry must file a yearly report as prescribed by the article verifying the structure of the company and attaching its Financial Statements. In case of failure to file the said report stiff fines are provided for. The Registrar`s duties and powers are many. For more information on our site follow the link below. He is also acting as the Official Receiver for bankruptcy cases of individuals and companies. Another or his very important role is for the registration of Patents, Trade Names and Trade Marks.
Full Text of Cyprus Company Law