Stamp Duty in Cyprus and Cyprus Registrar of Companies fees
|For sums over €4||€0,07|
|Letters of credit||€2|
|Letters of guarantee||€4|
|Bills of exchange (under certain conditions)||€1|
|Up to €5.000||0|
|Between €5.001 – €170.000||0,15%|
|With no fixed sum||€35|
|Bills of lading||€4|
|Powers of attorney:|
|Certified copies of contracts and documents||€2|
|Issue of Cyprus tax resident certificate by Cyprus Tax Department||€80|
From the 1st March 2013, stamp duty has been capped at a maximum amount of €20.000.
For documents with an unspecified period of time, in the case of real estate leasing the value is calculated over (multiplied by) 100 years and for employment contracts by 12 years.
A document signed/executed outside Cyprus is generally deemed to have been ‘signed’ for stamp duty purposes on the date the original is brought into Cyprus.
Documents relating to qualifying reorganisations are exempt from stamp duty, irrespective of the value.
For over 30 days of stamp payment delay, a fine is imposed equal to the stamp duty, and for over 6 months equal to two times the stamp duty. In cases of late stamping, the payment is done at a local District Office of the Cyprus Tax Department.
Failure to stamp a document does not render the document legally void. However, the document must be stamped before being submitted to any official authority or if it is submitted as evidence in the Cyprus Courts.
|Cyprus Registrar of Companies Levies|
Incorporation of a limited liability company issue of share capital
Incorporation of a limited liability company authorised share capital. There is no capital duty payable if the shares are issued at their nominal value. There is a €20 flat duty if the shares are issued at a premium
The cost of a subsequent increase in the issue of share capital is €20 on every issue, whether the shares are issued at nominal value or at a premium
The cost of a subsequent increase in the authorised share capital is Nil.
Annual levy paid to the Cyprus Registrar of Companies The maxi
mum amount of € 20,000 still applies to a Group of companies. The levy is payable on the year of incorporation of the company to the Cyprus Registrar of companies. It is paid until June 30 of each year. In case of non-payment there are penalties:
- €350 + €35 = €385 for the annual levy submitted between the period of 1/7/ – 31/8/ of the relevant year
- €350 + €140 = €490 for the annual levy submitted between the period of 1/9/ – 30/11/ of the relevant year
- €350 + €150 = €500 for the annual levy submitted after 30/11/ of the relevant year
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