Does my Cyprus company need an audit?

Yes. All Cyprus private limited companies (HE) must have their annual financial statements audited by a Cyprus-registered auditor (ICPAC member), regardless of size or turnover. There is no small company exemption from audit in Cyprus.

What are the penalties for late compliance filings in Cyprus?

Penalties vary by obligation. HE32 late filing attracts fees that escalate over time. UBO register non-compliance carries administrative fines up to €20,000 and potential criminal liability. Provisional tax (IR6) shortfalls trigger a 10% surcharge. VAT late filing incurs €51 plus 10% of VAT due. Late IR4 carries a €100 fixed penalty plus 5% surcharge and interest.

Cyprus Company Maintenance

Cyprus Annual Compliance Services

Full Cyprus annual compliance management: HE32, UBO register, IR4, VAT returns, and all statutory changes. Fixed fee. We handle the entire compliance calendar.

All Deadlines ManagedICPAC-Member NetworkFixed Annual FeesRegistrar Liaison

Annual deadlines

€0

Missed-deadline fees

€490

Package from

AML compliant

Book a compliance review See packages

WHO IT'S FOR

Is This Service Right for You?

Cyprus-incorporated private limited companies (HE)

Dormant companies that still have annual obligations

Holding companies with no active trading

Companies that have changed directors or shareholders

Companies approaching their first AGM

Late filers needing catch-up and regularisation

What is included

Complete annual compliance management

Annual Return (HE32)

Filing the annual return with the Cyprus Registrar of Companies confirming all company particulars — directors, secretary, shareholders, registered office, and share capital.

HE32 preparation and filing
Registrar fee payment coordination
Filing receipt and confirmation
Deadline tracking and reminders

UBO Register Maintenance

Keeping the Ultimate Beneficial Owner register updated with the Registrar of Companies. Mandatory updates within 14 days of any change in beneficial ownership.

Initial UBO registration
Updates on ownership changes
Annual UBO confirmation
Beneficial ownership documentation

Corporate Tax Return (IR4)

Preparation and submission of the annual corporate income tax return, provisional tax assessments in July and December, and tax payment scheduling.

IR4 corporate income tax return
Provisional tax (IR6) — July & December
Tax payment scheduling
Direct liaison with Tax Department

VAT & VIES Returns

Periodic VAT return filing, VIES EC Sales List submissions, and full liaison with the Cyprus Tax Department for all indirect tax obligations.

Quarterly VAT returns (VAT4)
VIES / EC Sales List submissions
VAT payment scheduling
Cross-border VAT advisory

Director & Secretary Changes

Filing all changes in company officers with the Registrar of Companies — director appointments, resignations, and secretary changes — as required under the Cyprus Companies Law.

HE4 director change filings
HE5 secretary change filings
Board resolution preparation
Registrar confirmation and receipt

Share Capital & AGM

Management of share capital changes (increases, transfers), share register maintenance, and preparation of annual general meeting (AGM) documentation and resolutions.

Share transfer instrument preparation
Share register updates
AGM minutes and resolutions
HE57 capital change filings

Compliance Calendar

Key deadlines & penalties

Non-compliance carries real costs. We track every deadline for you so nothing is missed.

DeadlineObligationPenalty for Non-Compliance

28 days after incorporation anniversaryAnnual Return (HE32)Late filing fee; risk of strike-off for persistent non-compliance

Within 14 days of changeUBO Register UpdateAdministrative and criminal penalties; fines up to €20,000

31 July (IR6 — Provisional Tax 1st instalment)Provisional Tax Assessment10% surcharge on unpaid provisional tax

31 December (IR6 — Provisional Tax 2nd instalment)Provisional Tax Assessment10% surcharge on unpaid provisional tax

31 March of the SECOND year following the tax year (e.g. FY2025 → 31 March 2027)Annual Income Tax Return (IR4)€100 fixed penalty plus interest on tax due

10th of second month after quarter endVAT Return (VAT4)€51 late filing fee plus 10% of VAT due

Monthly or quarterly (by 15th of following month)VIES / EC Sales List€50 fixed penalty per late return

Penalties shown are indicative. Deadlines may be extended for electronic filing. Always verify current requirements with a qualified professional.

Pricing

Fixed-Fee Annual Compliance Packages

All deadlines tracked and filed — no surprises, no penalty risk. Packages start from €490/year. See the full breakdown on our pricing page.

Maintenance Only

From €490/yr

Registered office, company secretary & HE32 annual return

View details

Annual Compliance

From €890/yr

Full compliance package — accounting, tax, UBO, VAT/VIES

View details

Custom Quote

On request

Complex structures, group companies, or bespoke requirements

View details

AVOID THESE ERRORS

5 Common Compliance Mistakes

Missing the HE32 deadline

Filing the HE32 late (more than 28 days after the AGM) carries a €50/day penalty from the Registrar of Companies.

Filing HE32 without holding an AGM

HE32 is invalid without a prior AGM. All private limited companies must hold a physical or virtual AGM before filing the annual return.

Filing IR4 late

A 5% surcharge applies to any tax owed if the IR4 is filed late, plus interest at 3.5% per annum on unpaid balances.

Not registering for the UBO register

Failure to register beneficial owners carries criminal penalties and can block the company from opening bank accounts.

Ignoring provisional tax self-assessment (TD1)

Underpayment interest accrues if the final tax liability significantly exceeds the provisional amounts paid — a common trap for growing companies.

Common Questions

Annual Compliance FAQs

What is the HE32 annual return and when is it due?

The HE32 is the annual return filed with the Cyprus Registrar of Companies confirming the company's officers, shareholders, and registered office. It is due within 28 days of the anniversary of the company's incorporation date. Failing to file on time results in a late filing fee and, for persistent non-compliance, risk of strike-off.

What is the UBO register and who must file?

Every Cyprus company must register its Ultimate Beneficial Owners (UBOs) — individuals who ultimately own or control 25%+ of the shares — with the UBO Register maintained by the Registrar of Companies. Updates are required within 14 days of any change. Failure to comply can result in administrative fines up to €20,000 and criminal liability.

When is the Cyprus corporation tax return (IR4) due?

The IR4 annual income tax return is due on 31 March of the second year following the relevant tax year. For example, the IR4 for the 2025 financial year is due by 31 March 2027. A fixed penalty of €100 applies for late filing, plus interest on any tax due.

Does my Cyprus company need to register for VAT?

Registration is mandatory once taxable turnover exceeds €15,600 in any 12-month period. Voluntary registration is available below this threshold. VAT returns (VAT4) are filed quarterly, due by the 10th of the second month after each quarter-end. Late filing attracts a €51 penalty plus 10% of the VAT due.

What happens if my company misses a compliance deadline?

Penalties vary by obligation: HE32 late filing fees can escalate; UBO non-compliance carries fines up to €20,000; provisional tax shortfalls attract a 10% surcharge; VAT late filing incurs €51 plus 10% of VAT due. Nexora monitors all deadlines proactively and handles all filings — so you won't miss them.

Related Services

Company FormationIncorporate in Cyprus →Accounting & AuditIFRS accounts & audit →Tax StructuringOptimise your structure →Annual MaintenanceKeep your company active →

Annual compliance from our /pricing schedule.

Annual Return (HE32)€200 / yr
Professional (Municipality) Tax€150 / yr
UBO Register Update (no changes)€250 + VAT/yr
AML Compliance Report (standalone)€400 / yr
Registered Office Address (add to Essential)€349 + VAT/yr
Nominee Secretary (add to Essential)€349 + VAT/yr
Annual accounting (transaction-volume tiered)From €800 + VAT/yr

Full schedule

Full schedule at /pricing

Your investment

From €200 / yr

All prices ex-VAT and ex-government fees. Scope confirmed in the engagement letter.

Book your free 30-min scoping call

Our promise

No surprise filings — calendar built in.

Every engagement ships with a compliance calendar covering HE32, IR4, VAT, VIES, UBO, social insurance and PAYE. If we miss a statutory deadline that we own, we cover the late-filing penalty in full.

Reviewed by

Nexora Editorial Standards Board

ICPAC-coordinated · Cyprus Bar partner-firm

Updated May 2026

Engagements coordinated with ICPAC-registered Cyprus tax advisers and Cyprus Bar Association member-firm lawyers. MOKAS-aligned under Cyprus AML Law 188(I)/2007. See our editorial standards and disclaimer.

Continue exploring

Related Cyprus services, tools & guides.

Related services

Calculators & tools

Knowledge Hub

All 21 Cyprus services All 70+ guides

Not sure which setup fits your situation?

Book a free Cyprus assessment. We'll confirm:

your filing calendar (HE32, IR4, VAT, UBO, payroll)
audit requirements for your company size and activity
risk areas in your existing structure
annual fixed-fee proposal scope
timing for catching up on missed filings (if any)

Book a free assessment

Ready to get started?

Book a free consultation and we'll guide you through the next steps — no obligation.

Book a Free Consultation Chat on WhatsApp

Free consultation · No obligation · Reply within 2 hours

Talk to us about Cyprus Annual Compliance.

Reply within 24 hours from a senior adviser. No obligation, no upfront fee.

Cyprus Annual Compliance Services

Full Cyprus annual compliance management: HE32, UBO register, IR4, VAT returns, and all statutory changes. Fixed fee. We handle the entire compliance calendar.

All Deadlines ManagedICPAC-Member NetworkFixed Annual FeesRegistrar Liaison

Annual deadlines

€0

Missed-deadline fees

€490

Package from

AML compliant

Book a compliance review See packages

Complete annual compliance management

Annual Return (HE32)

Filing the annual return with the Cyprus Registrar of Companies confirming all company particulars — directors, secretary, shareholders, registered office, and share capital.

HE32 preparation and filing
Registrar fee payment coordination
Filing receipt and confirmation
Deadline tracking and reminders

UBO Register Maintenance

Keeping the Ultimate Beneficial Owner register updated with the Registrar of Companies. Mandatory updates within 14 days of any change in beneficial ownership.

Initial UBO registration
Updates on ownership changes
Annual UBO confirmation
Beneficial ownership documentation

Corporate Tax Return (IR4)

Preparation and submission of the annual corporate income tax return, provisional tax assessments in July and December, and tax payment scheduling.

IR4 corporate income tax return
Provisional tax (IR6) — July & December
Tax payment scheduling
Direct liaison with Tax Department

VAT & VIES Returns

Periodic VAT return filing, VIES EC Sales List submissions, and full liaison with the Cyprus Tax Department for all indirect tax obligations.

Quarterly VAT returns (VAT4)
VIES / EC Sales List submissions
VAT payment scheduling
Cross-border VAT advisory

Director & Secretary Changes

Filing all changes in company officers with the Registrar of Companies — director appointments, resignations, and secretary changes — as required under the Cyprus Companies Law.

HE4 director change filings
HE5 secretary change filings
Board resolution preparation
Registrar confirmation and receipt

Share Capital & AGM

Management of share capital changes (increases, transfers), share register maintenance, and preparation of annual general meeting (AGM) documentation and resolutions.

Share transfer instrument preparation
Share register updates
AGM minutes and resolutions
HE57 capital change filings