The Annual Return (form HE32) is a statutory document that Cyprus companies must submit to the Company Registrar each year.
The annual return provides a snapshot of general information about the company, including details of the shareholders, directors, company secretary, registered office, and share capital, and must be filed together with the audited financial statements of the previous year.
Step 1 – Audited Financial Statements
The auditor issues his opinion regarding the financial statements of the Cyprus company.
Step 2 – The Board of Directors meeting
The board of directors calls a meeting to consider the audited financial statements and other documents and calls the annual general meeting.
Step 3 – Annual general meeting (AGM)
Once the audited Financial Statement of the company are ready, the directors must present them to the shareholders.
Step 4 – HE32 Annual Return
The Secretary prepares the HE32 based on the Financial Statements.
Step 5 – Submission
The audited Financial Statements are submitted to the Registrar of Companies along with the Annual Return (HE32).
The annual return must be filed within 28 days of the AGM, signed by either the director or secretary of the company and then submitted to the Registrar of Companies together with a copy of the audited financial statements.
How to find HE32 deadline:
From the date of incorporation, the company has 18 months to submit HE32 and the Financial Statements to the Registrar of Companies.
After first submission the company is obliged to do it every year.
For example: if company was incorporated on 01.02.2023, its deadline to submit first HE32 is on 01.08.2025.
To find out what is the exact date of the submission you can search for it on the Registry website.
If you fail to prepare and file the annual return on time, your company will be liable for late filing fees and can even be struck off for not submitting the annual return.
The penalty fee starts from €50 and continues to increase from the first date of non-compliance at the rate of €1/day for the first 6 months and €2/day thereafter for a maximum penalty of €500.
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