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  3. Supporting business in Cyprus: Government removes €350 annual fee

Supporting business in Cyprus: Government removes €350 annual fee

14 Mar 2024
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From 21 February 2024, the President of the Republic of Cyprus made an important announcement: the €350 annual fee that all companies registered in Cyprus were previously required to pay was abolished. This decision was further endorsed by the House of Representatives on 29 February 2024.

For over a decade, companies in Cyprus have been obligated to pay this annual fee, but now, this positive development reduces the financial burden on businesses.

The driving force behind this decision is to offer increased support to businesses. Starting in 2024, this move underscores the government's dedication to creating a more favourable business environment in Cyprus, with the ultimate aim of fostering long-term growth and stability.