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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