CYPRUS ACCOUNTING SERVICES
Get accurate, IFRS-compliant accounting with expert support at every step.
We provide comprehensive accounting services including bookkeeping, payroll, VAT, and IFRS-compliant financial statements for Cyprus companies. With Big 4-trained accountants and a streamlined approach, we deliver accurate results, audit-ready records, and complete compliance at every stage.
Cyprus Accounting Services
Every Cyprus company is required by law to maintain proper accounting records, prepare annual financial statements in line with IFRS, have them audited by a licensed auditor, and file them with both the Registrar of Companies. Staying compliant requires more than just record keeping – it requires timely, accurate work and the right professional support.
At Nikita & Partners, we provide comprehensive accounting services that cover bookkeeping, payroll, VAT, and financial reporting. Our role is to make this process straightforward, efficient, and valuable for your business.
Why Choose Us for Accounting in Cyprus?
We combine the technical expertise of international accounting firms in Cyprus with the personal attention of a boutique practice. Clients rely on us because we deliver accurate, IFRS-compliant accounting records and reports, guided by a team of chartered and certified accountants in Cyprus with Big 4 experience.
Beyond compliance, outsourcing your accounting and payroll to us pays for itself. By reducing in-house staffing costs, avoiding investments in software and equipment, and eliminating administrative overhead, the savings you achieve can outweigh our fees while still maintaining the highest standards of accuracy and compliance.
Our Approach to Accounting
We simplify the accounting cycle from start to finish. Using modern software, we manage your bookkeeping based on the information you provide such as invoices, contracts, and bank statements.
From there, we prepare your financial statements in compliance with IFRS and share a draft with you for review. Once approved, we coordinate directly with the auditors, ensuring they receive everything required for an efficient audit.
The result is a transparent, end-to-end service: one point of contact, no unnecessary back-and-forth, and complete peace of mind.
Core Accounting & Bookkeeping Services
Our Cyprus bookkeeping services are designed to keep your records both compliant and useful:
- Maintenance of accounting and bookkeeping records
- Bank and account reconciliations
- Accounts payable and receivable reconciliations
- Preparation of monthly, quarterly, and annual management accounts
- Budget vs. actual analysis and variance reports
- Day-to-day administration (invoicing, payments, etc.)
- Preparation of IFRS-compliant financial statements with full notes
- Advice on accounting treatment for complex transactions
- VAT registration, reporting, and compliance
We also provide outsourced bookkeeping services in Cyprus for international clients who need reliable on-the-ground support.
Payroll & Social Insurance Services
Payroll in Cyprus is tightly linked with tax and social insurance compliance. We manage this function with accuracy and discretion, regardless of the size of your team.
- Payroll processing and payslip preparation
- PAYE and social insurance calculations and submissions
- Employee registrations with authorities
- Preparation and filing of employer’s return (TD7)
- Employee personal tax returns (TD1)
- Assistance with employment contracts
- Support for work and residency permits for expatriate employees
With our support, your payroll is both efficient and fully compliant with Cyprus law.
Who We Serve
Our clients range from startups seeking cost-efficient outsourced accounting, to international groups managing cross-border operations, to family offices and entrepreneurs with diverse portfolios. We also act as the trusted accounting partner for many foreign companies establishing operations in Cyprus, helping them navigate local VAT, payroll, and reporting requirements with ease. Whatever the size or sector, we tailor our approach to match the needs of each business.
Work With a Trusted Accounting Firm in Cyprus
Whether you need day-to-day bookkeeping, payroll and social insurance support, or a full IFRS accounting function, our team is here to help. With Nikita & Partners, you get a partner who ensures compliance, accuracy, and clarity at every step.
Contact us today to discuss your Cyprus accounting services needs.
Frequently Asked Questions
Directors of Cyprus companies have a legal obligation to maintain proper books of account that present an accurate and fair picture of the company’s financial affairs and transactions. These records must enable the preparation of financial statements in compliance with International Financial Reporting Standards (IFRS) and the Cyprus Companies Law, Cap. 113. Directors are also responsible for ensuring that a full set of financial statements is prepared that reflects a true and fair view of the company’s financial position.
Look for firms licensed by ICPAC, with a strong reputation, a history of working with international and local clients, and clear industry knowledge. Your accountant should not only keep you compliant but also act as a trusted advisor who helps you understand and use your financial information.
Directors of Cyprus companies have a legal obligation to maintain proper books of account that present an accurate and fair picture of the company’s financial affairs and transactions. These records must enable the preparation of financial statements in compliance with International Financial Reporting Standards (IFRS) and the Cyprus Companies Law, Cap. 113.
Yes. All Cyprus-registered companies must have their financial statements audited or reviewed by a licensed Cyprus auditor. The auditor is appointed at the Annual General Meeting (AGM) and serves until the next AGM. For more details, see our Audit & Assurance section.
Every Cyprus company must file an annual return (HE32) with the Registrar of Companies. This filing includes the audited financial statements and auditor’s report. The return also records key company information such as the registered office, shareholders, share capital, directors, and secretary. Late filing attracts penalties, and persistent non-compliance can lead to further legal consequences for directors.
Compliance requires maintaining accurate and timely financial records, preparing IFRS financial statements, engaging a qualified auditor in Cyprus, and filing the HE32 annual return on time. Companies must also update their UBO (Ultimate Beneficial Owner) information within the legal timeframe. Working with a licensed certified accountant in Cyprus with a proven track record and sector knowledge is the most effective way to stay fully compliant.
Begin the Process
Whether you need day-to-day bookkeeping, payroll and social insurance support, or a full IFRS accounting function, our team is here to help. From initial setup through ongoing compliance and reporting, we simplify the accounting cycle with accurate work, clear communication, and professional oversight at every stage.