Cyprus Company Restoration
A company that has been struck off from the companies register, either voluntarily or involuntarily, can be restored and considered to have continued in existence as if its name had not been struck off.
A director or shareholder of the company may submit an application to the Court. The request for a company to be restored has to be submitted within 20 years from the struck off date.
The Court, upon satisfaction of request to restore, will issue a court order restoring the company to the companies register.
The Court will order the submission of all pending documents to bring the company filings up to date with payment of overdue fees once the restoration is approved.
| Cyprus Company Restoration | |
|---|---|
| Restoration fee | £1,000 |
| Application & Cyprus Government fee to reactivate company – €1,000 | £830 |
| Court Order – €1500 | £1250 |
| Late filing penalties arrears per year – €540 | |
| Resolutions & filing fee to appoint new Registered Agent & change Registered Office. | £100 |
| Cyprus Agent transfer in fee | £500 |
| Registered Office and Resident Agent fee per year struck off | £320 |
| Appointment of Resident Company Secretary | £400 |
| Due Diligence fee – Director & Shareholder (s) | £180 |
| Registration of the Ultimate Beneficial Owner | £200 |
| Company Seal and pliers for impression | £100 |
| Tax Identification Number | £100 |
| Court Order fee to the Registrar of Companies for registration | £150 |
| Lawyer fee | £600 |
| Notary fees | £200 |
| Company Search and obtaining company filed documents | £120 |
| 2% Transfer fee – to cover exchange rate changes, bank charges and fees |
2024 Renewal Annual fee for the Cyprus Company
- Registered Office and Resident Agent fee: £600
- Company Secretary required: £400
- Government Levy: £350
- Shareholder & Directors Register Maintenance: £280
- Compliance fee: £200
- Annual Return: £280
Annual Returns preparation and Registrar’s fees with penalties – per year outstanding
- 2001 – 2021: €250 per year
- 2022 – onwards: €540 per year
The fee for the filing of the Annual Returns amounts to:
- twenty euros (€20)per year
- overdue filings carry an additional fee of twenty euros (€20) as well as the late filing fee is imposed.
The overdue filing of the annual return is subject to a late filing fee up to the maximum amount of €500.
Following the restoration of the company’s name on the companies register, the company is considered to have continued in existence as if its name had not been struck off.
Court Order Restoration over 2 years
The company, any of its Directors or Shareholders can file to the Court a petition within 20 years from the publication of the relevant notice in the Official Gazette of the Republic of Cyprus.
Generally, a court will exercise its discretion to restore a company to the register if it is satisfied that the company at the time of strike off carried on business or that it still holds assets.
It will be a requirement by the Registrar of Companies, upon acceptance of the petition by the court, to submit all outstanding audited financial statements and annual returns with pending company fees.
Document Preparation and Legal Advice
We will assist you in gathering and preparing all the required documentation for the restoration process and we will ensure that all paperwork is completed accurately and in accordance with Cyprus company law.
Representation in Court
Restoration by court order, we will instruct lawyers to represent your interests before the court. We will prepare the relevant application, gather evidence supporting the restoration, and have the lawyer advocate on your behalf to obtain the court order.
Liaison with the Registrar of Companies
We will communicate with the Registrar of Companies, ensuring that all necessary documents and fees are submitted accurately and on time. We will also monitor the progress of your application and keep you informed throughout the process.
Assistance with Administrative Restoration
We will ensure that your application is complete, compliant with the Companies Law, and submitted within the required timeframe. Upon an office copy of the order being delivered to the registrar for registration the company shall be deemed to have continued in existence as if its name had not been struck off.
Administrative Restoration within 2 years
Section 327A of the Cyprus Companies Law entitles any Shareholder or Director to apply to the Registrar of Companies and request the re-in-statement of the company without the need to first obtain a Court order.
A restoration application (HE64) has to be prepared and submitted to the Registrar of Companies; this application has to be submitted within 24 months from the date of the company’s strike off.
Upon receiving an application, the Registrar of Companies will reinstate the company if the following conditions are met:
- Application was made within 24 months of the company being struck-off
- At the time of the strike off the company was carrying on business
- The company is up to date with all filing requirements
- The company has paid all fees, levies, penalties and fines due to the Registrar of Companies
- Reinstatement fee has been paid
- Registrar of Companies has good reason to believe that the strike off has caused a disadvantage to the applicant
If the Registrar is satisfied that the above conditions have been met, they will reinstate the company, and the decision will be published in the official Cyprus government gazette.