The obligation of all companies registered in Cyprus with the Department of Registrar of Companies and Intellectual Property to pay the annual levy of EUR 350, has been abolished. On 29 February 2024, the House of Representatives passed the Companies (Amendment) Law of 2024, deleting section 391 of the main legislation enacted in 2011 imposing the said annual levy.
However, companies registered in Cyprus are still liable for the payment of the annual levy for the years 2011 until 2023.