Guidance

Registering a Charge

A company may create a charge over its assets as security for its debts, providing there is a relevant provision in its articles of association permitting the creation of a charge.

A company must submit to the Registrar of Companies for registration the particulars of every charge that was created by the company and, of every property acquisition already subject to a charge, with form HE24E within:

• Twenty-one (21) days from the date of the creation of the charge, if the charge was created within the Republic and, relates to property situated within the Republic.
• Forty-two (42) days from the date of the creation of the charge, if the charge was created outside the Republic and, relates to property situated within the Republic.
• Twenty-one (21) days from the date of the acquisition of property already subject to a charge and, provided the charge was created within the Republic and, relates to property situated within the Republic.
• Twenty-one (21) days from the date the copy of the document creating the charge is received in the Republic, if the charge is created outside the Republic and, the property subject to the charge is situated outside the Republic.
• Forty-two (42) days from the date of issue of the temporary certificate of continuation of a foreign company, if the company registered as continuing in the Republic submits a charge that pre-existed such registration.
• Forty-two (42) days from the effective date of the cross-border merger, if the charge is created over the assets of the absorbed company and pre-existed the cross border merger.
• Twenty-one (21) days from the date of acquisition of property as a result of merger, in the event of acquiring assets with pre-existing charges due to merging with a Cyprus company.

It is noted that any person “interested in the charge” may proceed with its registration, within the above timeframes by submitting to the Registrar of Companies form HE24E.

Submission of registration of charge

The particulars of every charge created by a company and every acquisition of property with pre-existing charges may be submitted with (form HE24E), either online via the e-filing system of the Registrar of Companies or by hand/post, accompanied by:

• the document creating the charge (or a certified copy thereof);
• the relevant amount depending on the value of the charge: 
  • €140 (€0-17086,01);
  • €240 (€17086,01 – 34172,03);
  • €380 (€34172,03 – 85430,07);
  • €540 (€85430,07 – 170860,14);
  • €640 (over €170860,14);
• an additional fee of twenty (€20) euros if the accelerated procedure is required;
• the court order extending the time of submission (if the relevant form was not filed within the above timeframes), accompanied by an additional fee of twenty (€20) euros;
• certified translation of the document creating the charge in greek language, either by an affidavit or by sworn translator of the Republic of Cyprus, in case the documents are in a language other than greek. 

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).

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.

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 particulars of the charge and updating the companies register. You may visit the electronic register of charges to view the particulars of charges registered after year 2000. 

Once the charge is registered, the Registrar of Companies will proceed to issue the certificate of registration of charge.

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-registration of charge

The new form ΑΕ7Ε(1) was implemented on December 6th, 2021, and replaced form HE24 as regards to the details of charges created by an overseas company.