Every company registered in Cyprus has to file an annual return with the Registrar of Companies on form HE32. It keeps the public register up to date, and missing it brings penalties and, eventually, the risk of the company being struck off. Here is what it is, when it is due and what goes with it.
What the annual return contains
The HE32 confirms the company’s details as at its “made up” date, including:
- The registered office address.
- The directors and the company secretary.
- The shareholders and their shareholdings.
- The share capital.
It is filed together with the company’s audited financial statements for the relevant financial year.
When it is due
- The return is made up to a date once a year.
- It must be filed within 28 days of that date.
- Many companies use 31 December, which makes the deadline 28 January of the following year.
Because the audited financial statements are attached, your accounts and audit need to be ready in time. Plan the year so that the audit does not hold up the filing.
Late filing penalties
Late annual returns attract a fixed penalty plus a daily charge, rising the longer the return is overdue, up to a capped amount. Persistent failure to file can lead the Registrar to strike the company off the register, which can freeze bank accounts and stop the company from trading. Restoring a struck-off company is slow and costly, so it is far easier to file on time.
The annual levy is separate
Do not confuse the annual return with the annual levy. The levy is a yearly fee every Cyprus company pays to the Registrar of Companies, currently €350, due by 30 June. Missing it brings its own surcharges.
Other filings during the year
Changes to the company also need to be filed, usually within set deadlines. Common examples include:
- Appointing or removing a director or secretary.
- Changing the registered office. See our guide on the registered office in Cyprus.
- Transferring or issuing shares.
- Changing the company name or its articles of association.
A simple yearly checklist
- Prepare the financial statements and arrange the audit.
- File the HE32 annual return with the audited accounts within the deadline.
- Pay the annual levy by 30 June.
- File any company changes as they happen.
- Keep your tax returns and, if registered, VAT returns up to date.
Penalty amounts and deadlines are set by law and can change. We check the current figures for your company before filing.
How CyCorporate helps
We prepare and file your HE32, remind you of deadlines, handle the annual levy and file company changes for you. See our annual return and company changes service.
Frequently asked questions
What is the HE32 form?
HE32 is the annual return every Cyprus company files with the Registrar of Companies. It confirms the company's details, such as its registered office, directors, secretary, shareholders and share capital, as at a set date each year.
When is the annual return due?
The annual return is made up to a date once a year and must be filed within 28 days of that date. Many companies use 31 December, which puts the filing deadline at 28 January of the following year.
What happens if the annual return is filed late?
Late filing triggers a fixed penalty plus a daily charge that grows the longer the return is overdue, up to a maximum. Persistent failure can also lead to the company being struck off the register.
Is the annual return the same as the annual levy?
No. The annual return is a filing. The annual levy is a separate yearly fee every Cyprus company pays to the Registrar of Companies, currently €350, due by 30 June.