Accountants in Cyprus

  • Theodoros
    Theodoros
    Theodoros has managed this firm consisting of both lawyers and accountants, for over 20 years and accordingly they have developed all required skill-sets to provide expert guidance to both new and existing businesses -and indeed the individuals that own the businesses.
  • Panayiotis
    Panayiotis
    Panayiotis has 15 years of experience as an accountant and has an excellent knowledge of the International Financial Reporting Standards and the International Standards of Auditing. He is a member of the Institute of Certified Public Accountants in Cyprus (ICPAC) as a Certified Public Accountant and a member of the Institute of Chartered Accountants in England and Wales (ICAEW).
  • Sara Starovlah
    Sara
    Sara graduated with first class honours from the University of Hull, England. She started her career as a trainee accountant with Deloitte and continued with the firm post qualification. She has had responsibility for dealing with both local and international clients in sectors including shipping, trading and retailing, manufacturing, financing and investment companies. In particular she advises on matters of taxation as well as mergers and acquisitions. Sara is a member of the Institute of Chartered Certified Accountants (ACCA) and the Institute of Certified Public Accountants of Cyprus (ICPAC).

Why Set-up Business in Cyprus?

The Cyprus tax system, combined with the island’s infrastructure, highly skilled workforce and membership of the European Union contributes to making Cyprus an attractive jurisdiction for setting-up business operations.

The aspects of Cyprus’s advantageous tax system worth highlighting include:

  • Corporate income tax rate of 12.5%, one of the lowest in the European Union.
  • Dividends paid to non-resident shareholders are exempt from tax in Cyprus.
  • No tax arises on the liquidation of a Cypriot company owned by non-resident shareholders, despite the method of liquidation.
  • Cyprus companies are entitled to a notional interest deduction (NID) upon the introduction of new equity.
  • Dividend income received by a Company is exempt from tax irrespective of its source provided that the company paying the dividend either (i) engages directly or indirectly in more than 50% of activities that give rise to non-investment income or (ii) the tax burden on the dividend paying company’s income is not lower than 6.25%.
  • Any gain derived from the disposal of securities is tax exempt. By securities we refer to shares, bonds and debentures.

 

Errors to Avoid

Despite all of the benefits, Companies in Cyprus can come unstuck, usually as a result of the the fact that they are not made aware on time that they are:

  1. required to submit an annual corporate income tax return;
  2. required to prepare annual financial statements in Greek and
  3. a Company annual return must be submitted to the Registrar of Companies.

Failing to submit the above on time leads to fines and penalties.

Another common issue is that private limited companies incorporated in Cyprus are not made aware on time that they can have one shareholder who can also be the manager or an employee of the Company. This lack of knowledge leads to unnecessary expenses as the Company may employ personnel to perform a duty which can be done by an existing personnel.

Find an Accountant

Each of the accountants on the map of Cyprus below are registered and regulated by the Chartered Institute of Accountants. To find out contact information about any of the accountants just click on the red markers on the map below.

Client Testimonials

Below is a list of client testimonials received from clients of our network of Accountants in Europe, obtained via Wufoo client survey platform:

  • Default Avatar75
    S Crawford, Alhaurín El Grande
    Wednesday, November 22, 2017
    Miguel was quick to respond to questions, professional, personable, knowledgeable. Very Satisfied with the service.
  • Default Avatar75
    Bruce and Susan Moore, England
    Tuesday, October 31, 2017
    Great responsive and assured service
  • Default Avatar75
    Hugh and Ann Morgan, Palma de Mallorca
    Monday, October 30, 2017
    His command of English is First Class.

    He demonstrated the highest level of professionalism and efficiency and l would have no hesitation in using him again or recommending him to any of my collea...gues or friends

    Competent, capable value for money FIRST CLASS and a credit to the organisation
  • Default Avatar75
    Anthony Bennett, Barcelona
    Thursday, October 19, 2017
    Anna provided the best possible solution for me in my situation, and helped out as much as she possibly could. I would recommend her services to anybody seeking legal or financial advice.
  • Default Avatar75
    Carlos Pelaez, London
    Monday, July 03, 2017
    She was friendly and attentive at all times, quick answers on whatsapp app and always up to help and answer my questions. I'm pretty satisfied with her service.
  • Default Avatar75
    Amy Wahba, Barcelona
    Monday, March 06, 2017
    She was understanding and tried to maintain positive always even when doors closed in our face. She is always smiling and tried to find solutions to my problems which kept me always at rest.
  • Default Avatar75
    Richard Whiteside, Lucena
    Monday, February 20, 2017
    Miguel has provided an excellent service, helping me sort out my tax and social security obligations as an ‘autonomo’.

    He is always prompt with his answers to my questions, he offers timely adv...ice and always makes sure that I am prepared in advance.

    His English level is excellent and I will continue to use his service in the future.
  • Default Avatar75
    Robert Toth, Ireland
    Thursday, February 09, 2017
    Anna was very, very helpful, always happy to assist and also approachable and professional. I was very satisfied with the legal services.
  • Default Avatar75
    Saeid Aboutalebian, Iran
    Wednesday, February 08, 2017
    Everything is good about Anna. She is very friendly. And I definitely would use the same lawyer again in the future.
  • Default Avatar75
    Fiona Murie, UK
    Wednesday, November 09, 2016
    Miguel has always been extremely approachable, helpful and given sound advice. He has kept us informed at every stage and quickly answered questions to help us make informed decisions.

    We feel like... we have had value for money and will definitely use Miguel as our only lawyer for all Spanish business.
    He has been fantastic! Very professional
  • Default Avatar75
    JS, Barcelona
    Friday, May 20, 2016
    Miguel is extremely helpful, couldn’t have done more. He is also responsive, transparent and informative.
  • Default Avatar75
    Sharon Janet, Stoke-On-Trent
    Wednesday, April 06, 2016
    Miguel was always available to discuss any issues we had.

    Excellent service more than happy and will be going back to him with and future legal issues. I would advise anyone to deal with this pract...ice more than accommodating.
  • Default Avatar75
    AJH Platino Servicios, S.L., Tenerife
    Tuesday, March 31, 2015
    To date these are routine services but he appears to be up to date with the latest legislation and the advice we have received thus far has appeared sensible to me. As we begin to explore what our com...pany might do I am sure we can make it a little more challenging for him!
  • Default Avatar75
    Marian O’Dwyer, Alhama Granada
    Monday, March 30, 2015
    Prompt, professional, friendly, explained everything clearly, went above and beyond the necessary to make things easy.
  • Default Avatar75
    Kevin Neylon, Poland
    Monday, February 23, 2015
    Jaime was very responsive, represented value for money and was very professional and helpful. I was very satisfied with his advice.
  • Default Avatar75
    P.T., Benalmadena
    Thursday, January 15, 2015
    All tax returns are handled online, so I don't need to go anywhere to accomplish my tax obligations in Spain. Although the service is provided mainly by internet, Jaime met me when necessary, and I ca...n always contact quickly him or his team by phone, email, skype and even whatsapp.

    Jaime and his team have been really helpful during the setting-up process of my business.
  • Default Avatar75
    Nikolay Denev, Cádiz
    Thursday, November 20, 2014
    I was very satisfied with the short time it took to set-up my documents and register me as autonomo initially.
    Now I'm happy with the service, and if I have any questions I have them answered quickly... and the answers are always easy to understand.

    The service represents excellent value for money.
  • Default Avatar75
    H R Crowther, Huddersfield
    Monday, November 10, 2014
    Prompt response followed by confirmatary e-mails. Very approachable, and inspired confidence. Good value for money. Very satisfied and would definitely use the service again.
  • Default Avatar75
    Florian Burkart, Barcelona
    Friday, September 05, 2014
    What we like about the service from Advocate Abroad: - Very knowledgeable and competent - Very friendly and helpful - Very good English and reasonable prices - Not trying to rip us off
  • Default Avatar75
    B Clarke, Jayena
    Friday, February 14, 2014
    Jaime was extremely helpful and professional. He was happy to meet all of our requests and made our transaction extremely simple. Everything was explained clearly and all of our questions were answere...d.

    We also felt that the service provided to us, offered great value for money and we would highly recommend Jaime to other individuals.

Services for Businesses

Request a Service