Accounting

Our team of professionally qualified accountants will undertake accounting and specialized financial work. We provide our clients with a complete package of Accounting & Bookkeeping services, thus assisting your company to run smoothly and efficiently and ensuring that the appropriate accounting records are maintained.

Accounts are prepared annually, usually for each calendar year in line with the tax year, but there is no objection to another year end date being chosen. The company’s first accounts may be prepared for any period up to 18 months. Audited accounts must be submitted to the Income Tax Department and to the Registrar of Companies within a year of the tax year-end. Accounts are required to be prepared to International Financial Reporting Standards (IFRS).

It is a legal requirement for a Cyprus Company to keep accounting books and records.

We will require detailed information about what the company will be used for. Please provide the activities, goods to be traded, trading parties if known, nature of investments and services to be provided. In order for the financial accounts to be prepared for your Cyprus Company you will need to provide us with the following documentation:

• Copies of bank statements and credit/debit notes for the financial year under consideration
• Copies of invoices that have been issued by the company
• Copies of invoices/bills received by the company
• Information and documentary evidence as to subsidiaries
• Audited financial statements of subsidiaries
• Dividends received from subsidiaries
• Information and documentary evidence as to the operation and expenses, bank statements of branches and representative offices
• Titles of property, movable or immovable purchased by the company
• Any other documents evidencing income or expense on behalf of the company
• Documents proving payments of tax outside Cyprus to any tax authority for tax credit in Cyprus
• Share certificates for investments in subsidiaries
• Copies of all agreements/contracts signed on behalf of the company
• Copy of petty cash book (if any)
• Copy of warehouse book listing stock starting and closing balances and its movement during a year, (if company operates a warehouse)
• Completed and signed declaration

Information and documents should be produced in English. Should you require us to arrange for a translation of the presented documents into English, we would be happy to do this for you and will provide a separate quote for this service.

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If you require any add additional information or clarification please do not hesitate to contact our office