Cyprus Companies may register with the VAT Register voluntarily or as a matter of law in specific occasions after they begin their business and upon issuing their first invoice or sign their first contract. Voluntary registration may be carried out at any time after the first business activity of the company. Registration with VAT Authorities will be arranged by us in accordance to the Directors’ wishes.

Bookkeeping of Cyprus Companies Books

Every Cyprus Company must keep books of accounts. Bookkeeping of the Company may be made by any individual, the directors or any employee of the company, but not the Auditor. The appointment of a Bookkeeper and maintenance of Company Books may be arranged by us in accordance to Directors’ wishes.

VAT returns and VAT clearing

A Cyprus Company registered for VAT will be required to file quarterly VAT returns. The appointment of the Accountants, preparation and submission of such returns will be arranged by us in accordance with the Director’s wishes.

VIES Registration is only required to Cyprus companies that affect deliveries within the European Union. On such occasions, the company registered in VIES will have the right to charge 0% of VAT for such deliveries to other VIES registered companies. A Cyprus Company registered to VIES will be required to file VIES returns monthly. Such registration and the subsequent monthly returns for such deliveries will be arranged by us in accordance with Directors’ wishes.

Auditing of Cyprus companies returns

Every Cyprus Company must be audited at the end of each accounting period by accredited auditors in Cyprus based on the accounting standards applying in Cyprus. The appointment of the Auditor and the follow-up of preparing the annual Audit will be arranged by us in accordance to Directors’ wishes.

Tax returns and Tax clearing

After the Annual Audit of the books of accounts, the auditors prepare and sign the final accounts of the company and they then submit them to the Department of Income Tax for payment of the tax on the profits of the company. This process and its follow-up will be arranged by us in accordance to the Directors’ wishes.