News

The Registrar of Companies in order to bring up to date the Register of Companies and more specifically to cleanse the Register of Companies from dormant companies on 27.05.2014 and 05.06.2014 issued announcements with which companies are urged to file any overdue Annual Returns together with the corresponding Financial Statements until the 30.06.2014.

After some interested parties proceeded with representations for extending the filing date, it is clarified that in accordance with section 327 of the Companies Law, a company is deregistered from the Companies Register only after the procedure stipulated in the above section for sending first and second notification to the company is observed and the necessary three month publication is made in the Official Gazette. Further, the deregistration procedure may terminate at any time if the company complies with filing overdue Annual Returns and Financial Statements.

On the basis of the above and given the pressing time limits for bringing up to date the Company Register any further extension will cause problems with Cyprus’ obligations under the memorandum. It is to be noted that the date of filing of overdue Annual Returns and Financial Statements, coincides with the Companies’ obligation to file the above with the Department of Inland Revenue.

DEPARTMENT OF REGISTRAR OF COMPANIES AND OFFICIAL RECEIVER