Accounting & Audit Coordination for Companies in Cyprus
Professional accounting, bookkeeping, VAT compliance, and statutory audit coordination with licensed external auditors for Cyprus companies. Full compliance with Companies Law Cap.113 and IFRS.
Free consultation · No commitment · We respond within 24 hours
What's Included
What's Included
- Monthly bookkeeping and management accounts
- Statutory audit coordination with licensed auditors
- Corporation tax return filing
- VAT return preparation and submission
- Payroll processing and social insurance
- Financial statements in IFRS format
How It Works
Step 01
Financial Review
Assess your current financial position, identify tax planning opportunities, and understand your obligations.
Step 02
Setup & Compliance
Register for VAT, set up bookkeeping systems, and establish reporting workflows tailored to your business.
Step 03
Ongoing Management
Handle filings, prepare financial statements, submit returns, and provide continuous tax advisory support.
Accounting and audit
from €2,100 a year
Bookkeeping, VAT, payroll and the annual audit on one fixed annual fee, set by your transaction volume.
Fixed fee, written into your engagement letter before you pay. A Cyprus-based accountant replies within 24 hours.
Frequently Asked Questions
A statutory audit is the normal rule. For reporting periods beginning on or after 6 February 2026, section 152A may permit a statutory review where both net turnover and total gross assets do not exceed €300,000 and €500,000 respectively for two consecutive financial years, and the private company satisfies the other group, public-interest, regulated-entity, consolidation, and statutory conditions. Earlier periods use the threshold then in force.
Cyprus companies are required to prepare their financial statements in accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union. Small and medium-sized entities that do not have public accountability may alternatively apply the IFRS for SMEs standard, which provides simplified reporting requirements. The use of internationally recognised standards ensures that Cyprus financial statements are transparent, comparable, and accepted globally.
A company must register for VAT when its taxable supplies exceed €15,600 in the preceding twelve months, or when the company expects to exceed this threshold within the next 30 days. Voluntary registration is available for companies below the threshold and can be beneficial for recovering input VAT on purchases and expenses. VAT returns are filed quarterly, and the standard VAT rate in Cyprus is 19%.
Form TD4 filing deadlines are year-specific and have changed under transitional and 2026 rules. Use the Tax Department's current deadline table for the relevant tax year rather than a permanent 15-month rule. Provisional tax is generally paid in two instalments during the tax year, subject to the dates and extensions applicable to that year.
Companies that fail to file their annual return (Form HE32) with the Registrar of Companies within the prescribed deadline may face administrative penalties and may ultimately be subject to striking-off proceedings. The annual levy of €350 was abolished from 2024 onwards and is no longer payable for 2024 or any later year; only any unpaid levy for the years 2011-2023 remains due, together with the applicable surcharges. Persistent non-compliance can result in the company being dissolved.
Under both the Income Tax Law and the VAT Law, companies in Cyprus must retain their accounting records, including invoices, receipts, bank statements, contracts, and all supporting documentation, for a minimum of seven years from the end of the relevant tax year. This retention period ensures that records are available for review by the Tax Department in the event of a tax audit or investigation.
Our accounting packages are tailored to company size and complexity. All packages include bookkeeping, VAT compliance, annual financial statement preparation, statutory audit coordination, corporate tax computation and filing, and annual return submission. Our growth and enterprise packages additionally include monthly management accounts, cash flow forecasting, budgeting, transfer pricing documentation, consolidated group accounts, and dedicated account management.
Yes. Cyprus companies are permitted to maintain their accounting records and prepare their financial statements in a functional currency other than the Euro, provided that the functional currency reflects the primary economic environment in which the company operates, as determined under IAS 21. This is common for holding companies and trading entities that operate primarily in USD, GBP, or other currencies. However, the tax computation must be prepared in Euro, with amounts translated at the appropriate exchange rates.
What Our Clients Say
Trusted by individuals and businesses across the globe.
4.9(366+)Read Google Reviews“I have had a very positive experience working with Angeliki and the team at Polycarpos Philippou & Associates LLC. Angeliki is highly professional, extremely responsive, and always very clear in her communication. She replies incredibly fast and makes complex administrative and tax related matters easy to understand.”
Kevin Koch
Corporate and tax services
“We had a wonderful experience working with Evangelia Katsigianni during our Cyprus tax residency (Yellow Slip) application process. She was incredibly helpful, friendly, and professional throughout, always taking the time to answer our questions and guide us through each step. We are very grateful for her assistance.”
Danny Schultz
Tax residency
Free Consultation
Ready to Get Started?
Book a free, no-obligation consultation with one of our experienced lawyers. As one of the most established law firms in Paphos, we're here to help you navigate the legal landscape of Cyprus with confidence.
No fees. No obligations. Speak with a qualified lawyer today.
Related Services
Cyprus Company Incorporation Lawyers
Cyprus company formation lawyers: we register your company in about 10 working days, fully remotely. Fixed fee from €1,050 + VAT. Free consultation.
Personal Tax Advisers in Cyprus
Personal tax advisers in Cyprus: tax residency, non-dom status, income-tax bands and annual returns from €350 per year. Book a free consultation.
Cyprus IP Box Lawyers
Leverage the Cyprus IP Box regime for an effective 3% tax rate on qualifying IP profits. OECD nexus approach compliant, covering patents and software.
Related Articles
Tax
Cyprus Tax Reform 2026: Verified Rates and Changes
Cyprus tax reform took effect from tax year 2026. This page records the principal verified changes used elsewhere on this website; it is not a substitute for the enacted legislation or a taxpayer-specific transition analysis.
Tax
How a Cyprus International Trust Protects Your Crypto
A CIT does not make crypto gains tax-free, immune from creditors or anonymous. This guide explains the 8% Article 20E regime, lawful transfers, trustee control, disclosure and cross-border succession.
Tax
UK FIG vs Cyprus Non-Dom: Which Tax-Residence Route Fits?
UK FIG is a four-year relief for qualifying new UK residents; Cyprus non-dom is an SDC status available only after Cyprus tax residence is established. This guide compares the two routes without treating either as a universal tax exemption.