Cyprus: imposition of annual trade license fees in Limassol municipality

In December 2019 the Municipality of Limassol has published an information of imposition of annual trade license fees on legal entities in this region of Cyprus on its official website.

The abovementioned decision was made 26 September 2019 in accordance with Articles 104 and 105 of the Municipalities Law 111/1985. The requirement to pay annual trade license fees is applicable to the following legal entities:

1. Having its registered office situated in the territory of Limassol Municipality;
2. Administered by registered agent or managed by secretarial company, or serviced by legal or accounting or audit company from the territory of Limassol Municipality.

The amount of fee is 150 euro for independent entities, 85 euro for each entity which operates within group of companies and 50 euro for dormant companies.

The payment deadline for trade license fees of 2019 is 31 March 2020.