One of the most common sources of confusion for new Cyprus company owners is the difference between the HE32 Annual Return and the Financial Statements. They sound similar but are completely different obligations, filed to different authorities, at different times, for different purposes.
The HE32 tells the Registrar of Companies who your directors and shareholders are. The Financial Statements tell the Tax Department how much profit you made. The TD4 is the tax return that bridges the two. All three are mandatory, and all three have different deadlines.
The Three Annual Filings: A Quick Overview
| Filing | What It Is | Who Receives It | Deadline | Portal |
|---|---|---|---|---|
| HE32 Annual Return | Company information update | Registrar of Companies | Within 28 days of incorporation anniversary | Ariadni (efiling.drcip.gov.cy) |
| Financial Statements | Audited annual accounts | Registrar + Tax Department | 15 months after year end | Ariadni + TAXISnet |
| TD4 (IR4) | Corporate tax return | Tax Department | 15 months after year end (typically same as above) | TAXISnet |
The HE32 Annual Return
What It Contains
The HE32 is a snapshot of your company's basic information as of the filing date:
- Full name and registration number of the company
- Registered office address in Cyprus
- Details of all directors (name, nationality, address, date of appointment)
- Details of all shareholders (name, number of shares, percentage)
- Authorised and issued share capital
- Details of charges (mortgages, loans) registered against the company
When It Is Due
The HE32 must be filed within 28 days of the anniversary of incorporation. If your company was incorporated on 15 June 2024, the HE32 is due by 13 July 2025, 2026, etc.
This is the date most commonly missed, because owners confuse it with the end of the financial year or the audit deadline.
Who Files It
Your company secretary typically handles HE32 filing. Confirm this is included in their service agreement.
Cost
The Registrar charges a fee for the HE32:
- Filed on time: approximately EUR 20-30
- Filed late: higher fees plus potential penalties
What Happens If You Miss It
Late filing triggers Registrar penalties. Persistent failure to file can result in the company being struck off the register — effectively dissolved. If your company is struck off, you lose your company number, registered history, and must re-incorporate.
Financial Statements (Audited Accounts)
What They Contain
The annual financial statements are a full set of accounts:
- Balance sheet (assets, liabilities, equity)
- Profit and loss statement (income, expenses, net profit/loss)
- Cash flow statement
- Notes to the accounts
- Directors' report
- Auditor's report
They are prepared under IFRS (International Financial Reporting Standards) for all Cyprus companies.
Who Prepares and Signs Them
- Your accountant prepares the draft accounts from your bookkeeping records
- A registered auditor (ICPAC member) reviews, tests, and signs the audit opinion
- The directors approve the accounts by signing the directors' report
When They Are Due
Financial statements must be filed with the Registrar of Companies within 15 months after the end of the financial year. For a 31 December 2025 year end, the deadline is 31 March 2027.
In practice, the Tax Department often extends deadlines. But do not rely on extensions — prepare on time.
Cost
The audit is the most expensive part. See our Cyprus accountant fees guide for current pricing. Typical range: EUR 1,000-3,000 for a simple active company.
The TD4: Corporate Tax Return
The TD4 (also called IR4) is the annual corporate income tax declaration filed on TAXISnet:
- Declares the company's taxable profit for the year
- Calculates corporation tax due (15% rate from 2026)
- Applies deductions (expenses, NID, IP Box if applicable, losses carried forward)
- Offsets provisional tax already paid
The TD4 can only be filed after the audit is complete, because it is based on the audited figures. The auditor typically assists or the accountant prepares the TD4 from the audited accounts.
Penalty for late TD4: Similar to other tax returns — interest at 1.75%/year plus 10% on unpaid tax.
Summary: The Annual Filing Timeline
For a company with a 31 December financial year end:
| Month | Action |
|---|---|
| January-February | Provide records to accountant; auditor begins fieldwork |
| March-June | Draft accounts prepared; audit conducted |
| July-September | Accounts approved by directors; TD4 filed |
| Within 28 days of incorporation anniversary | HE32 filed (separate, year-round depending on date) |
| 15 months after year end (31 March) | Final deadline for accounts to be filed with Registrar |
| 31 July | Provisional tax first payment due |
| 31 December | Provisional tax second payment due |
Find Cyprus accountants who can manage all three filing streams at CyprusDesk.
Disclaimer: Filing deadlines can change due to government extensions. Always verify current deadlines with your accountant or the Registrar of Companies. Find qualified Cyprus accountants at CyprusDesk.