Cyprus ridiculous fees for strike off

[HavanaClub]

I have received a calculation of fees from the secretary (IFBS) and it seems ridiculous. Could you tell me if its the market prices or its a typical situation with greedy secretary?

Annual fees for 16.01.2025-16.01.2026 – 1350 eur (okay)
Fine for late payment – 160 eur (okay)
UBO submission for 2025 – 350 eur (is it a average market price?)
Nill audit for 2024 – 940 eur (does not seem average market price for nil report)
Nill audit for 2025 – 940 eur (does not seem average market price for nil report)
Stike off – 4700 eur (dont know if its market price)
Tax clearance procedure – 4500 eur (what is this for?)
Annual fees for 16.01.2026-16.01.2027– 1350 eur (procedure for strike off lasts at least one year, okat can believe in this )
UBO submission for 2026 – 350 eur (is it a average market price?)
Certificate of strike off under apostille – 450 eur (questionable)
Dhl to EU – 200 eur (questionable)

Total: 15 290 EUR

Could someone explain how to get rid of the company for less? Should I leave it and not pay anything? These fees seem to be overinflated for all including - 1) striking off 2) nil audits 3) UBO submissions.

 

[CyprusLaw]

I have received a calculation of fees from the secretary (IFBS) and it seems ridiculous. Could you tell me if its the market prices or its a typical situation with greedy secretary?

Annual fees for 16.01.2025-16.01.2026 – 1350 eur (okay)
Fine for late payment – 160 eur (okay)
UBO submission for 2025 – 350 eur (is it a average market price?)
Nill audit for 2024 – 940 eur (does not seem average market price for nil report)
Nill audit for 2025 – 940 eur (does not seem average market price for nil report)
Stike off – 4700 eur (dont know if its market price)
Tax clearance procedure – 4500 eur (what is this for?)
Annual fees for 16.01.2026-16.01.2027– 1350 eur (procedure for strike off lasts at least one year, okat can believe in this )
UBO submission for 2026 – 350 eur (is it a average market price?)
Certificate of strike off under apostille – 450 eur (questionable)
Dhl to EU – 200 eur (questionable)

Total: 15 290 EUR

Could someone explain how to get rid of the company for less? Should I leave it and not pay anything? These fees seem to be overinflated for all including - 1) striking off 2) nil audits 3) UBO submissions.

The fees are too high yes.

Leaving the company could create personal liability on you and therefore it is certainly better to close it.

 

[HavanaClub]

Is there any chance to move the company to another secretary and strike off the company through them?

 

[JustAnotherNomad]

Maybe you can find someone in a shithole country who can buy the company from you, and then it would be there probably? Sometimes you can find this as a service.
But not sure if the previous could still be liable in a case like that.

 

[CyprusLaw]

Is there any chance to move the company to another secretary and strike off the company through them?

You can, I have sent you a PM

 

[marioIT]

yeah malta and cyprus these days think they're the switzerland of the golden age... I keep hearing of crazy fees from those two places. It's a thing to consider for sure, as many members go there thinking everything is cheap since they're small islands... it doesn't work that way...

 

[CyprusLaw]

yeah malta and cyprus these days think they're the switzerland of the golden age... I keep hearing of crazy fees from those two places. It's a thing to consider for sure, as many members go there thinking everything is cheap since they're small islands... it doesn't work that way...

I don't this is the case. A lot of this online service providers are trying to milk clients, but if you have a law firm as your starting point instead of a service provider or an accountant then you will be safer.

 

[daniels27]

Maybe you can find someone in a shithole country who can buy the company from you, and then it would be there probably? Sometimes you can find this as a service.
But not sure if the previous could still be liable in a case like that.

They normally milk the company first by buying things on credit or getting loans. Once they are bankrupt, the court will strike the company off the register without you having to pay for it. Pretty good business for the criminals.

https://www.nzz.ch/zuerich/zuerich-unternehmer-verdient-an-firmenbestattungen-mit-ld.1833221
https://www.tagesanzeiger.ch/konkur...die-firmenbestatter-am-aktivsten-212395329018

If your name means anything to you, I would not recommend doing it.

 

[Radko]

Should I leave it and not pay anything?

Yes, I've done that twice and nothing ever happened...

 

[CyprusLaw]

Yes, I've done that twice and nothing ever happened...

How long ago have you done this? And do you live in Cyprus? Depending on your activities and status of the company fines are potentially building up, the authorities will chase you once the amount of the fines is significant, therefore leaving it there and doing nothing is certainly wrong advise to give.

 

[Radko]

How long ago have you done this? And do you live in Cyprus? Depending on your activities and status of the company fines are potentially building up, the authorities will chase you once the amount of the fines is significant, therefore leaving it there and doing nothing is certainly wrong advise to give.

Fear mongering, no one is going to chase you!

All services are the same, they try to charge you a bunch of money for something that would normally cost very little.

I've dealt with a lot of services and ALL of them are full of crap, they literally lie to their clients to squeeze as much as they can.

 

[wellington]

Try BVI, started the process last June, so far 10,000$ for a dormant company and still not struck off lol