Paphos People

Hi All

We spent considrable time and funds in setting up a company , to ensure we were 100% legal .

With all the difficult times , and basically no work , we have decided rather then just dump our investment it would be better to suspend the company activities until times get better .

Can someone who has done this , inform us how to suspend our company and how long it will take to complete .

Thanks

Les

Les

The word you are looking for is "dormant" not suspend.

Now retired, don't know anything about how Cypriot business works.

Good luck

Alan

Any decent accountant can do this for you
at a reasonable price ..
Its not that hard to do ..

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Hi Neil

We have asked our accountant to do this but he seems to be draging his feet ( no idea why ) , that is why we just wanted some legal information as to what is involved .

As you will appreciate any work nowadays is a god send , so why rush to kill the golden goose .

If you follow my meaning

Thanks

Les

Dear Les,

For this you have to speak with your accountant to "cancel" the company from the Tax, VAT and Social Service and when you are ready you can resume business.

Please note that there is now a special tax for all companies of Euro 350 per year. To avoid to pay this every year you have to lodge a declaration with the Registerar of Companies in June to state that the company does not have any activity or own any property. If you do not submit this declaration then you will be liable to pay the yearly special tax.

Please consult your accountant as well.

Regards


Haris Kalogirou

Good Day Mr. Haris

Thank you for you response and information , this year we have already paid the Special Tax , again even though we have done nothing .
We spoke to the accountant again today about the suspension of the company , and he made out he did not know this is what we wanted ( Great Story ) , as I said don't kill the goose .

Well we have given him both Verbal and Written instructions now and told him if he raises any further invoices for works he has done , other than as instructed they will not be paid .

Anyway lets see now .

Thanks for your response

Regards

Les