Cyprus Implements Strike-off Process for Dormant & Lost Contact Companies
The Cyprus tax department are urging service providers in Cyprus with client companies that are dormant or in contactable to use a new system which has been implemented to circumvent lengthy delays in approvals. The Registrar of Companies has announced that a large number of applications for the striking off of dormant companies are still outstanding.
The court delays are due to many of the companies having existing pending issues with the tax department, the most common being:
- The non-submission of the annual income reports for previous years.
- The non-submission of VAT reports for previous years.
- Have outstanding payables for direct and indirect taxes.
These pending issues are the reason that the Cyprus tax department has had a delay in approvals for the effective striking off of such companies from the registrar.
The tax department states that if you are a company with a client dormant company, or have lost contact with a Cypriot-registered company and fall within the category described above, you can now apply for the striking-off of the company by following these steps:
- You must submit the company reports for previous financial years.
- With either of the below forms and corresponding emails below:
For Dormant Companies
For No Contact Companies
Companies have until the 31st of March 2019 to submit their claims for both no contact or dormant company scenarios.
The forms are both in Greek and English and it asks for a summary of any other companies that you have submitted your resignation as a Director and/or Secretary at the registrar of companies.
After submission, you will receive email informing you that the claim was successfully received. In case you do not respond or submit the necessary documentation such as the Report of Income, please note that the tax department will proceed via court based on the legislation accordingly.
For clarification or help filling out any of the forms above, contact us, we’d be happy to help you.
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