Cyprus Accounting & Bookkeeping Support
Comprehensive accounting support designed for Cyprus-registered companies. Stay on top of your financial obligations while maintaining full visibility over your books.
- Systematic bookkeeping and monthly reconciliation
- Balance sheet and profit & loss reporting
- Statutory reporting and tax filing assistance
- Assigned account specialist for ongoing support
Accounting Obligations for Cyprus Companies
Cyprus companies operate under EU-aligned standards that include strict bookkeeping, auditing, and tax compliance requirements.
Required for statutory and tax compliance
Mandatory annual audit under IFRS
12.5% corporate income tax rate
Minimum retention under tax law
Record-Keeping Obligations
Under the Companies Law, Cap. 113, Cyprus companies must maintain complete and accurate accounting records that document all transactions, reflect the company's financial position at any given time, and enable the preparation of financial statements in accordance with International Financial Reporting Standards.
What Records Must Be Kept
- Complete records of income and expenditure
- An up-to-date register of assets and liabilities
- All invoices, receipts, and contracts
- IFRS-compliant financial statements
- Minutes of board and committee meetings
- Shareholder meeting minutes and resolutions
Where Records Can Be Kept
Penalties for Non-Compliance
- Statutory fines on the company and responsible officers
- Personal liability for directors and officers
- Risk of the company being struck off the Register
- Loss of banking and professional relationships
- Difficulties in satisfying regulatory audits
Complete Accounting Solutions for Cyprus Businesses
From routine bookkeeping to statutory financial reporting, our team keeps your finances in order while you drive your business forward.
Bookkeeping
Reliable, well-organised financial records are essential for any Cyprus business. We maintain your books with care, using trusted accounting software to log and categorise each transaction.
Transaction Recording
Thorough capture and classification of all transactions within your accounting system
Bank Reconciliation
Periodic bank account reviews to confirm balances and identify any inconsistencies
Accounts Payable/Receivable
Oversight of vendor payments, customer invoicing, and receivables management
Monthly Close
Structured month-end closing with reconciled accounts and verified balances
Financial Statements
Statutory and management financial statements prepared in line with international standards, giving stakeholders confidence in your Cyprus company's financial reporting.
Balance Sheet
Clear summary of your company's financial position including assets, liabilities, and equity
Income Statement
Comprehensive overview of earnings, costs, and net income or loss for the period
Cash Flow Statement
Overview of how cash flows through your business across key activity categories
Annual Accounts
Complete annual financial reports prepared according to recognised accounting frameworks
Management Reporting
Stay informed about your Cyprus company's financial health with management reports that highlight key metrics and trends, empowering smarter business decisions.
Monthly Management Accounts
Regular reports capturing essential financial metrics and performance data
Budget vs Actuals
Analysis of how actual results measure up against your budget projections
Custom Reports
Personalised financial reports aligned with your business priorities and KPIs
Compliance Support
Navigate Cyprus regulatory and tax compliance requirements with structured support. We prepare the financial records and filings your company needs to stay compliant.
Tax Compliance Support
Preparation of financial records for corporate tax returns and VAT filings
Registered Agent Liaison
Liaising with your registered agent on compliance matters, filings, and information requests
Audit Preparation
Organising financial documentation and preparing work papers for audit readiness
Payroll Services
Professional payroll processing for your Cyprus company's workforce. We handle calculations, payments, and record-keeping so you can focus elsewhere.
Salary Processing
Full-cycle payroll management from calculation through to payment and record-keeping
Contractor Payments
Management and tracking of invoices and payments for independent contractors
Ready to take the hassle out of your Cyprus accounting?
Accurate bookkeeping, timely reports, and full compliance support — all taken care of.
Why Professional Accounting Matters for Cyprus Companies
From statutory compliance to strategic growth, professional financial management is essential for any Cyprus business.
Regulatory Compliance
Cyprus companies are subject to statutory record-keeping and reporting requirements. Professionally maintained accounts help you meet these obligations and avoid penalties.
Tax Compliance Readiness
Organised financial records are fundamental to accurate corporate tax returns and VAT filings. Professional accounting ensures your tax obligations are met efficiently and on time.
Banking Requirements
Financial institutions in Cyprus and abroad often require reviewed or audited statements for ongoing account maintenance. Professionally prepared accounts simplify these interactions.
Investor Confidence
High-quality financial reporting reassures shareholders, investors, and partners that your company is managed with diligence and transparency.
Informed Decision Making
Structured management reports and financial analysis provide the insights you need to evaluate performance, spot trends, and make well-grounded business decisions.
Audit Readiness
Cyprus companies are generally required to have their accounts audited annually. Professional bookkeeping throughout the year ensures a smooth, stress-free audit process.
Our Cyprus Accounting Workflow
A well-defined process that covers everything from onboarding to statutory year-end reporting.
Consultation
We assess your company's operations, compliance requirements, and reporting expectations to build a tailored accounting plan.
Onboarding & Setup
We configure your accounting software with an appropriate chart of accounts and establish secure workflows for document sharing.
Regular Bookkeeping
Transactions are recorded and bank accounts reconciled on a monthly basis, keeping your financial records consistently up to date.
Review & Insights
Monthly management reports are shared with you, and we review the financials together to identify anything that needs attention.
Annual Reporting & Compliance
We prepare your statutory financial statements and coordinate with auditors to ensure all year-end obligations are fulfilled.
Frequently Asked Questions
What you need to know about accounting, auditing, and tax compliance for Cyprus companies
Yes. Under the Companies Law, Cap. 113, all Cyprus companies must maintain proper accounting records that explain their transactions and allow their financial position to be determined at any time. Records must be kept for at least 6 years.
Yes. Most Cyprus companies are required to have their financial statements audited annually by a registered auditor. The audit must comply with International Financial Reporting Standards (IFRS).
Cyprus companies are subject to a 12.5% corporate income tax on worldwide profits. Annual tax returns must be filed, and proper bookkeeping is essential for accurate tax computation and compliance.
We tailor the reporting schedule to your requirements — monthly, quarterly, or annually. Interim management accounts and VAT reports can also be delivered on a regular basis.
Non-compliance may lead to statutory fines on the company and its officers, personal liability for directors, risk of being struck off the Register, and difficulties during regulatory audits.
Yes. Bookkeeping — the day-to-day recording of transactions — and accounting — the analysis, reporting, and preparation of IFRS-compliant statements — are both covered under our service.
Connect With Accounting Professionals
Need clarity on Cyprus bookkeeping standards, tax reporting, or financial compliance? Reach out and let us guide you.
