Annual Liabilities of Foreign Interest Companies in Cyprus
This notice serves as a REMINDER of two key obligations that all companies of foreign interest in Cyprus must adhere to in relation to the Migration Department.
Annual Liabilities of Foreign Interest Companies in Cyprus
- Each year, during the month of June, companies of foreign interest are required to submit a Tax Declaration to the Migration Department.
- The declaration must cover the financial year that ended two years prior to the current calendar year.
- For example, in June 2025, the declaration must refer to the 2023 financial year.
- This certificate is used to confirm that the company has fulfilled all relevant tax obligations and to ensure that work permits for third-country employees can be issued without delay.
The Migration Department will pause the issuance of any residence permits of their employees until the Tax Declaration is submitted.
Reporting Changes of the Company
Any changes to a company’s structure or corporate information must be reported to the Migration Department. This includes:
- Change of registered office address
- Appointment or resignation of directors or secretaries
- Changes in shareholding structure
- Appointment or removal of authorised or legal representatives
- Amendments to the Articles of Association
- Any changes affecting the company’s business activity or general information
It is essential that such changes are communicated in a timely manner to maintain the company’s compliance status and avoid any disruption in its operations or its employees’ migration status.