Bookkeeping is a requirement for companies incorporated and registered in Cyprus. Additionally, annual returns and (consolidated) financial statements must be prepared by a qualified accountant. To ensure efficient, effective and above all tailored services, our specialized team provides customers with a package deal for company formation, accounting services and other relevant tasks. Read more about Accounting Services here.
Whether a Cyprus company is used as a standalone trading company or as a holding company, a bank account is often required. A bank account in Cyprus provides a combination of confidentiality and protection, when used appropriately. Our founding partners have extensive experience in banking and banking law which allows us to select reliable, trustworthy, and stable banking partners. Read more about Bank Account Opening here.
Our non-resident clientele needs a professional corporate service provider to comply with international and domestic rules of substance and presence. Appropriate use of the Cyprus company triggers one of the lowest corporate income tax regimes of the EU. Alongside this fiscal advantage, company formation in Cyprus provides several beneficial means for international companies. Read more about Company Formation here.
When a company stops trading, is inactive, or its burden of debt justifies closure, company liquidation can provide relief. However, procedural mistakes can have far-reaching consequences and turn into personal liability of the beneficial owner of the company. Alongside company formation and related corporate services, we assist to properly liquidate Cyprus companies. Read more about Cyprus Company Liquidation here.
Beneficiaries of Cyprus companies can have several reasons to reactivate the company. The most common motive for reactivation is to restore protection that follows the legal separation of ownership and control, versus the company itself. Over the years we successfully helped customers to reactivate for legal proceedings, tax investigations, asset recovery, and inheritance proceedings. Read more about Company Reactivation here.
Alongside the benefits of the attractive corporate tax regime, individuals can become a Cyprus tax resident. Such tax residency allows those who comply with the requirements of the program to utilize non-domicile status and thus take advantage of several lengthy tax benefits. These include the exemption of income tax on dividend and personal and passive income earned outside Cyprus. Read more about Tax Residency here.
VAT is a mandatory taxation levied on goods and services, and its increased value. Cyprus companies need to maintain a VAT administration and periodically submit its results to the domestic tax authorities. VAT charges to customers and payments to suppliers result in a tax refund or a charge to the authorities. We assist customers to register and obtain a VAT number, administer, and file VAT. Read more about VAT Administration here.