The abolishment of the fees imposed by the Companies Registrar on start-ups was reconsidered by the parliamentary Trade Committee on Tuesday.
The bill proposal had been brought before the Plenary but its discussion had been postponed.
Speaking before the committee, the proposer of the bill, DISY MP Marios Mavrides, stated that the proposal concerns exemption from fees for innovative businesses numbering around 100.
These are small start-ups, “struggling to survive.”
He referred to the fee for company formation (€165) or the €2,000 imposed for transforming a private company into a public one, so it can raise capital from the stock market.
“This must go, so that they can become public companies in order to find investors,” he added.
In the ensuing discussion, it was clarified that the exemption from fees does not cover the fines imposed by the Companies Registrar Department.
The Committee President, DISY MP Kyriakos Hatzigiannis, said that the proposal constitutes an incentive for innovative businesses.
Elena Poulli, on behalf of the Deputy Ministry of Innovation, stated that the Deputy Ministry supports the proposal, especially the provision of enabling the finding of investors for innovative businesses.
She noted that the Deputy Ministry posts on its website the businesses that have been certified as innovative, adding that the certification is valid for three years.
She reminded that there is tax relief for investors investing in innovative businesses, following the Ministry of Finance’s inspection.
