The Cyprus Securities and Exchange Commission (CySEC) has announced that the Annual Fee Calculation Form 87-03-01 has been updated to cover the annual fee for 2022 and has been published on the CySEC website. Cyprus Investment Company (CIFs) is required to use the revised Form 87-03-01 to calculate its annual fee.

In calculating the annual fee, the Cyprus Investment Company must fill out the grey units in columns 1.5-1.7 of Form 87-03-01 according to the instructions on the form. In addition, when filing forms with CySEC, these companies should provide the following addenda:

Summary of audited financial statements which disclose the total turnover for the corresponding year (2022).

Proof of payment of annual fee to CySEC.

Within four months of the end of each financial year, i.e. by April 30 at the latest, the Cyprus Investment Company shall submit a completed and duly signed Form 87-03-01 to the CySEC via the portal, together with the payment of the annual fee.