Guidance

Registering a Charge

An overseas company, registered with the Registrar of Companies, may create a charge over its assets as security for its debts, providing there is a relevant provision in its articles of association permitting the creation of a charge.

An overseas company must submit to the Registrar of Companies for registration the particulars of every charge that was created by the company and, of every property acquisition already subject to a charge, with form ΑΕ7Ε(1) within:

• Twenty-one (21) days from the date of the creation of the charge, if the charge was created within the Republic and, relates to property situated within the Republic.
• Forty-two (42) days from the date of the creation of the charge, if the charge was created outside the Republic and, relates to property situated within the Republic.
• Twenty-one (21) days from the date of the acquisition of property already subject to a charge and, provided the charge was created within the Republic and, relates to property situated within the Republic.
• Twenty-one (21) days from the date the copy of the document creating the charge is received in the Republic, if the charge is created outside the Republic and, the property subject to the charge is situated outside the Republic.

It is noted that any person “interested in the charge” may proceed with its registration, within the above timeframes by submitting to the Registrar of Companies form ΑΕ7Ε(1).

Submission of registration of charge

The particulars of every charge created by an overseas company and every acquisition of property with pre-existing charges may be submitted with (form ΑΕ7Ε(1)), by hand/post, accompanied by:

• the stamped document that creates or proves the charge, in case the charge was made or is proved by a document;
• a certified copy of the document that creates or proves the acquisition of property already subject to a charge, in case the charge was or is proved by a document;
• the relevant amount depending on the value of the charge: 
  • €140 (€0-17086,01);
  • €240 (€17086,01 – 34172,03);
  • €380 (€34172,03 – 85430,07);
  • €540 (€85430,07 – 170860,14);
  • €640 (over €170860,14);
• an additional fee of twenty (€20) euros if the accelerated procedure is required;
• the court order extending the time of submission (if the relevant form was not filed within the above timeframes), accompanied by an additional fee of twenty (€20) euros;
• certified translation of the document creating the charge in greek language, either by an affidavit or by sworn translator of the Republic of Cyprus, in case the documents are in a language other than Greek.

The fees are payable in cash, by cheque (made payable to “Registrar of Companies”), via an account maintained with the Department of the Registrar of Companies or via bank transfer.

You are advised to refer to the Explanatory Notes so as to acquire a better understanding of what is required and to facilitate the process further.

Provided that the Registrar of Companies is satisfied that all, relevant to the circumstances legal requirements, have been met, he will proceed with registering the particulars of the charge and updating the companies register. Once the charge is registered, the Registrar of Companies will proceed to issue the certificate of registration of charge.

In the event that the company requires proof of the change made in the companies register, it may submit a request to obtain certified copies of an overseas company.

The new form ΑΕ7Ε(1) has been implemented as from December 6th, 2021, in replacement of form HE24 as regards to the details of charges created by an overseas company.