Announcement: Cyprus has abolished the Annual Levy for Companies registered in Cyprus

On February 21, 2024, the President of the Republic of Cyprus made public the Council of Ministers’ decision to abolish the compulsory annual levy of €350, previously mandated for all companies registered in Cyprus with the Registrar of Companies.

The imposition of this annual levy has been a legal requirement for a period spanning 12 years, commencing in 2011. This decision is intended to bolster the local business landscape and will take effect starting from the year 2024 onward.

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