Guidance

Notifying settlement of a charge

A company that has paid in full or in part the debt for which the charge was registered or, has released all or part of the property charged, must inform the Registrar of Companies accordingly in order for the register of charges to be updated.

Satisfying (“paying off”) a charge

If the debt for which the charge was registered has been paid in full, you may submit a relevant statement (form HE28), either online via the e-filing system of the Registrar of Companies or by hand/post, accompanied by:

• the consent of the beneficiary of the charge;
• a fee of twenty euros (€20) and, an additional fee of twenty euros (€20), if the accelerated procedure is required.

Depending on the manner of submission, fees are payable:

• by credit card (via efiling);
• in cash, by cheque (made payable to “Registrar of Companies”), via an account maintained with the Department of the Registrar of Companies or via bank transfer (by hand/ post).

It is noted that, the document must be signed in the presence of the Registrar of Court Order, by a director and the secretary of the company.

You are advised to refer to the main criteria of review and most common reasons for rejection, so as to acquire a better understanding of what is required and to facilitate the process further.

In the event that the company requires proof of the change made in the companies register, it may submit a request to obtain certified copies of company.

e-settlement of charge

Partial settlement of a charge or partial release of property charged

If the debt for which the charge was registered has been paid in part or, part of the charged property has been released, the company submits to the Registrar of Companies a relevant statement (form HE29), that must be signed in front of the Registrar of Court Order, by a director and the secretary of the company.

The document may be submitted by hand/post, accompanied by a statement of the beneficiary of the charge and a fee of twenty euros (€20). If the accelerated procedure is required, an additional fee of twenty euros (€20) must be paid. Fees can be paid in cash, by cheque (made payable to “Registrar of Companies”), via an account maintained with the Department of the Registrar of Companies or, via bank transfer.

You are advised to refer to the main criteria of review and most common reasons for rejection, so as to acquire a better understanding of what is required and to facilitate the process further.

Release a property from charge

When whole of the property charged or mortgaged no longer forms part of the company’s property, the company submits to the Registrar of Companies a relevant statement (form HE30) that must be signed in front of the Registrar of Court Order, by a director and the secretary of the company.

The statement may be submitted by hand/post, accompanied by a declaration of the beneficiary of the charge and, a fee of twenty euros (€20). An additional fee of twenty euros (€20) must be paid if the accelerated procedure is required. Fees can be paid in cash, by cheque (made payable to “Registrar of Companies”), via an account maintained with the Department of the Registrar of Companies or, via bank transfer.

You are advised to refer to the main criteria of review and most common reasons for rejection, so as to acquire a better understanding of what is required and to facilitate the process further.

The new consolidated form AE11 has been implemented as from December 6th, 2021, in replacement of forms ΗΕ28, ΗΕ29 and ΗΕ30 as regards to overseas companies.

Updating the companies register

Provided that the Registrar of Companies is satisfied that all relevant to the circumstances, legal requirements have been met, he will proceed with registering the settlement of charge and updating the companies register.