The Cyprus Registrar of Companies in order to bring up to date the Cyprus Register of Companies commenced the procedure for deregistering Cyprus companies (under section 327 of the Companies Law) by sending letters to Cyprus companies that did not file their annual returns due together with the corresponding financial statements.
Moreover, the Cyprus Registrar of Companies commenced notifying Cyprus companies that failure to file annual returns (as required by Articles 118-121 of the Companies Law), within one month from the date of notice, the Registrar of Companies will proceed with the process of deletion.
Cyprus Registrar of Companies has also commenced notifying the Cyprus Tax Department its intention to proceed with the process of deletion. In this respect, Cyprus Tax Department has also commenced sending letters to Cyprus Companies warning of possible tax implication that may arise from imminent delisting.
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