Also in the news...
The UK is one of the best places on Earth to have a business. This makes many overseas companies seek to enter the UK market.
The Federal Capital Territory (FCT) Abuja, Nigeria’s capital is gradually becoming a renowned city in Africa. In recent times, there has been an influx of people into the city and its real estate development and construction sectors are developing at a tremendous pace.
Looking to set up your UAE company? How about a visa for life? It might sound too good to be true, but it’s a reality. And the offer ends October 31st.
If you want to build traction for your startup, you need to invest in a high-quality website. You also can't afford to make too many mistakes, because a good website costs money.
The Government reveals the 12 businesses from across the UK who will showcase their green technology and innovations at the Global Investment Summit.
Cyprus company obligations
With ever increasing regulations and reporting requirements, it is now of even more importance to ensure that Cyprus companies are meeting all of their statutory and other reporting obligations.
To help starting the New Year fully aware of such requirements, and to avoid unnecessary financial and other penalties, we are outlining below the most typical obligations to consider. Depending on the type, structure and activities of a company there might be more requirements to fulfil and/or some of the ones below might not be applicable.
1. STATUTORY OBLIGATIONS
Annual General Meeting (AGM): Must be held each year and the time between them must not exceed 15 months.
Annual Returns: Within 42 days of the AGM, the Company must complete and file a fully signed copy of the Annual Return with the Registrar of Companies.
Company Annual Levy: Every Company must pay an annual levy of €350. The levy for 2017 is payable by 30th June (otherwise late payment penalties will apply and even a strike off in case of long delay).
2. TAX RELATED OBLIGATIONS
According to their individual circumstances, companies registered in Cyprus will have several reporting and payment obligations arising during the coming year, the main of which are outlined below:
- Payment of special contribution for defence withheld on the payment of dividends, interest or rents (where applicable) made to Cyprus tax residents in the prior month;
- Payment of tax withheld in the prior month on payments to non-Cyprus residents;
- VIES – a Recapitulative Statement must be submitted every month;
- INTRASTAT – the INTRASTAT Return must be submitted on a monthly basis.
- Companies registered for VAT are obliged to submit their VAT returns and make any payments due on a quarterly basis.
- Final date for electronic submission of the 2015 corporation tax return (form T.D.4, formerly known as IR4) for accounting periods ended 31 December 2015.
- Final date for payment of special contribution for defence due for the the first six months of 2017.
How we can help you?
At Fiducenter we acknowledge the significance of good corporate governance and compliance and we truly care about safeguarding the interests of our clients. We, thus, make sure that deadlines are met and other obligations are respected for companies to which we provide services. It is not by chance that our compliance rates are way above the sector averages. If you believe we may be able to assist in any way, please feel free to contact us.