In Cyprus, except the first year of the company’s existence, which may have a longer or shorter duration, the fiscal year corresponds in principle to the calendar year. The Companies must maintain proper books of Accounts for the business transactions.
YourGlobalPro professionals assist you with the entire bookkeeping and accounting services for your Cyprus Business Set up as per your business needs including implementation of financial accounting software, accounting records preparation and time to time preparation of budgets, forecasts.
In Cyprus, at the end of each fiscal year, the management must prepare audited financial statements in accordance with International Financial Reporting Standards (IFRS). There is also the requirement for annual financial statements prepared in Greek and a company annual return to be submitted to the Registrar of Companies. The translations are often undertaken by the local advisers at minimal cost.
YourGlobalPro professionals provide you auditing services as required by your business in Cyprus.
Opening an account in a bank is quite easy in Cyprus. The documentation requirement differs from Bank to Bank and need to be complied for the Bank account opening.
- The major banks in Cyprus are Alpha Bank Cyprus Ltd., Bank of Cyprus Public Company Ltd.,
- Co-operative Central Bank Ltd. (CCB) and Hellenic Bank Public Company Limited. All banks are stable, reliable and offer the same level of services.
YourGlobalPro professionals facilitate all the paper work in relation to banking need and can assist you in opening bank account for your business plan in Cyprus.