Accounting for your Cyprus company, monthly to year-end

A Cyprus company is easy to register and surprisingly easy to neglect. VAT periods, payroll contributions, provisional tax, financial statements, the HE32 annual return — each has its own authority, its own rhythm and its own penalty clock. Our accounting service exists so that none of this becomes your problem: one Nicosia team keeps the books monthly, files what must be filed, and hands your auditor a clean file at year-end.

What the monthly service includes

• Bookkeeping. Transactions recorded monthly against bank statements and invoices, ledgers kept audit-ready under IFRS — so your numbers are current, not reconstructed in a panic each spring.
• VAT. Registration where needed, preparation and filing of returns for each VAT period, and VIES statements when you supply EU businesses — the mechanics are on the Cyprus VAT page.
• Payroll. Payslips, employer contributions, joiners and leavers, and the employer’s annual reconciliation — see how payroll in Cyprus works.
• Direct tax compliance. Provisional tax estimates during the year and the corporate income tax return once the financial statements are done — the wider picture sits on the corporate tax page.
• Year-end. Financial statements prepared for audit by a licensed ICPAC firm, and the HE32 annual return filed with the Registrar of Companies.
• A named accountant. Questions answered by the person who actually keeps your books — in English, Greek, Russian or Ukrainian.

What does a Cyprus company have to file every year?

The obligations below apply in some form to almost every active company. The exact statutory dates depend on your VAT periods, incorporation date and financial year — and several figures are updated by the authorities year to year — so we publish specifics with dated sources on the dedicated pages and build them into each client’s calendar.

Two things founders consistently underestimate: the obligations start whether or not the company trades, and the year-end items are chained — the audit feeds the tax return and the annual return, so one late link delays all three.

The first year: registrations in the right order

A newly incorporated company spends its first months collecting registrations, and the order matters. Tax registration comes first, straight after incorporation. The beneficial-ownership (UBO) filing with the Registrar is due within 90 days of incorporation — an easy one to miss because nothing operational depends on it until the penalties arrive. VAT registration is triggered by your numbers and your flows, sometimes earlier than founders expect; employer registration must exist before the first payslip, not after. We sequence all of this during onboarding, so the company is fully “plugged in” before the first invoice, the first hire and the first VAT period — instead of retrofitting registrations under deadline pressure.

Moving from another provider

Switching accountants is normal, and it is less painful than staying unhappy. The handover runs like this:

1. You sign a short authority letter; we notify the outgoing firm and request the records professionally.
2. We collect the set: latest trial balance, ledgers, VAT workings and filed returns, payroll records, the most recent financial statements.
3. The cut-over lands on a clean boundary — a VAT period end or the financial year end — so nothing falls between two firms.
4. If we find gaps — unfiled returns, missing records — you get an honest list and a plan. Fixing arrears is scoped and quoted separately, not smuggled into the monthly fee.

How documents move

We adapt to how you already work: a shared folder, email, exports from your invoicing tool. What matters is the rhythm — we ask for documents monthly and chase them ourselves, because a boring year-end is built in the twelve months before it.

A boring year-end is built in the twelve months before it.

Languages and communication

The founder–accountant relationship fails on translation more often than on numbers. We run engagements in English, Greek, Russian and Ukrainian: contracts and reports in the language you choose, government correspondence translated and explained, and answers that come from the person doing the work rather than a ticket queue.

How we run it

1. Scope and quote. You describe the business and its volumes; we quote a fixed monthly fee in writing.
2. Onboarding. Registrations checked and completed, handover from any previous accountant, your deadline calendar built.
3. Monthly cycle. Documents in, books updated, VAT and payroll filed, a short note back so you know it happened.
4. Year-end. Financial statements prepared, the audit coordinated with an ICPAC firm, tax return and HE32 filed.
5. No surprises. Every deadline flagged before it arrives; every government letter answered, not just forwarded.