Guidance

Registering a Mortgage

An overseas company, registered with the Registrar of Companies may mortgage its immovable property in the Republic as security against its debts. This can only be done if a relevant provision in the company’s articles of association exists, allowing the creation of a mortgage.

The overseas company must deliver to the Registrar of Companies the particulars of every mortgage created over its immovable property under the provisions of any law. The particulars of a mortgage over the immovable property of an overseas company registered in the Republic of Cyprus may be submitted with (form ΑΕ7Υ), within twenty-one (21) days from the date of registration of the mortgage with the relevant office of the Department of Lands and Surveys of the Republic of Cyprus.

It is noted that any person “interested in the mortgage” may proceed with its registration within the above timeframe by submitting to the Registrar of Companies form ΑΕ7Υ .

Submission of registration of mortgage

You may submit the form for the particulars of mortgage over the property of an overseas company (form ΑΕ7Υ), by hand/post, accompanied by:

• a fee of twenty euros (€20) (irrespective of the mortgage value) and, an additional fee of twenty euros (€20) if the accelerated procedure is required;
• the Court order extending the time of submission of the relevant form, if the form has not been filed within the period of twenty-one (21) days, accompanied by an additional fee of twenty (€20) euros.

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 mortgage and updating the companies register.

The new form ΑΕ7Υ has been implemented as from December 6th, 2021, in replacement of form ΗΕ24Υ as regards to overseas companies.