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Dear Sir/Madame,

We would like to bring to your attention that according to the Cyprus Company Law, Cap. 113 all Companies are liable to pay the levy of ‎‎€350 for the year 2018.

Please note that the deadline for the payment is 30/06/2018. If the levy is not paid till 30/06/2018, penalties will be imposed as follows:

  • amount due to be paid is ‎‎€385 if paid between 01/7/2018 – 30/08/2018;
  • amount due to be paid is ‎‎€490 if paid between 01/09/2018 – 30/11/2018;
  • amount due to be paid is ‎€500 if paid later than 30/11/2018.

Please also note that each company that has pending levy payments for previous years can pay also for these years as follows:

  • ‎€350 for 2011 – Dormant companies are exempted from paying the levy for 2011;
  • ‎€490 for 2012 – Dormant companies are exempted from paying the levy for 2012;
  • ‎€490 for 2013;
  • ‎€490 for 2014;
  • ‎€490 for 2015;
  • ‎€490 for 2016;
  • ‎€490 for 2017.

Non-payment of the levy may result the deregistration (strike off) of the company from the Registry. The reinstatement of the company to the Registry can be effected only through Court decree.

As a result of the above, we kindly request you to transfer the clear amount at our client’s account, confirming to us upon settlement and referring the name of the Company as well as the year for which you are sending the money e.g. LEVY 2018, ABC LIMITED.

Please find below the details of our client’s Account:

BENEFICIARY A/C:       240-01-482002-03 (EUR)
IBAN:                              CY69 0050 0240 0002 4001 4820 0203
SWIFT:                            HEBACY2N
                                         ARCH. MAKARIOU & IOANNI POLEMI 131
                                         3508 – LIMASSOL

We would highly appreciate it if you would proceed with the transfer of money the soonest possible so that we can proceed with the payment of levy, in order to comply with the requirements of the above mentioned legal provisions without any penalties imposed.

Kindly note that our Firm will not be liable for any consequences of non-compliance in case you do not provide us the said levy in the time frame prescribed.

Please do not hesitate to contact us if you need further clarifications or the list of your group companies for which annual levy is payable.



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