On the 21st of February, the President of the Republic of Cyprus, announced the decision of the Council of Ministers to abolish the annual levy obligation of EUR 350.00, which was payable by all companies registered under the laws of the Republic of Cyprus to the Registrar of Companies since 2011.
This initiative signifies a robust commitment of the Republic of Cyprus to support local businesses by lifting such financial burden, hence creating a more favourable environment for entrepreneurship and investment.
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