Audit and accounts for a Cyprus company
An audit is required for every Cypriot company, even with no turnover. We prepare the accounts, arrange the audit with a Cypriot auditor and file with the Registrar and the Tax Department on time.
Every Cypriot company prepares financial statements once a year, and an approved auditor audits them. This is a Cyprus Tax Department requirement: the company tax return cannot be filed without audited statements. The same statements go to the Registrar of Companies together with the annual return. An audit is required even for a company with no turnover: in that case nil accounts are prepared, but the auditor still signs them.
A tax reform has applied in Cyprus since 1 January 2026: the corporate tax rate rose from 12.5% to 15%, and deemed dividend distribution and stamp duty were abolished. The 2026 accounts are therefore the first in which companies must calculate tax at the new rate. Below: which returns a company files, the deadlines, what late filing costs and what we do.
Two filings and their deadlines
| Filing | Where | Deadline | If late |
|---|---|---|---|
| Annual return on form HE32 with financial statements | Registrar of Companies | first statements no later than 18 months after incorporation, then every calendar year | up to €50 (~$57) on the first day and €1 for each further day, up to €150 (~$169), plus an additional €20 fee (~$23) |
| Company tax return on form T.D.4 with audited statements | Tax Department via TAXISnet | 15 months after the end of the tax year: the 2025 return is due by 31 March 2027 | penalty from €100 (~$113) |
The registrar's late filing fees were set by the 2024 amendments to the Companies Law.
We will calculate online the cost of reporting and audit for a year at your turnover.
What changed in 2024-2026
- The annual company levy was abolished from 2024. Arrears for 2011-2023 remain, however, and must be paid for the company to stay in good standing.
- 15% corporate tax from 1 January 2026 instead of 12.5%.
- Deemed dividend distribution abolished: a company no longer has to account for tax on dividends it did not pay.
- Defence contribution on actual dividends for tax residents domiciled in Cyprus reduced from 17% to 5%.
- Stamp duty abolished, so company contracts are no longer subject to it.
How preparation and audit work
- Collecting documents. Bank statements, contracts, invoices, details of assets and loans. For a company with no turnover, statements and confirmation that there were no transactions are enough.
- Bookkeeping. We consolidate the year's transactions, calculate tax at 15% and prepare the financial statements.
- Audit. An approved auditor reviews the statements and issues an opinion. If documents are missing, the auditor raises questions and we close them with you.
- Filing. The annual return with the statements goes to the Registrar of Companies, the tax return to the Tax Department via TAXISnet.
- VAT and international trade. If taxable supplies over 12 months exceed €15,600 (about $17,500), the company must register for VAT and apply within 30 days of the end of the month in which the threshold was crossed. We register the company, file returns, sign it up to the EU one-stop shop and obtain the customs number.
Common problems
- No source documents. The auditor will not sign without statements and contracts, and without audited statements the tax return cannot be filed.
- Old levy arrears. The levy was abolished from 2024, but unpaid amounts for 2011-2023 stay with the company.
- A missed VAT threshold. The obligation to register arises automatically, and the tax authority may register the company retroactively.
- A company nobody needs. If a company is kept only to file nil accounts, striking it off is cheaper than paying for an audit year after year.
Cyprus company accounts and the owner's home country
Many countries have controlled foreign company rules: if a resident owns a significant stake, the company's profit may be taxed at home, and the tax office there asks for its annual statements.
An audit is mandatory for every company in Cyprus, so the statements always come with the auditor's report and work for reporting in the owner's country.
Other countries are covered in the audit and accounts for foreign companies section.
What we do
We keep the books and prepare the statements, arrange the audit with a Cypriot auditor, file the annual return and the tax return, register for VAT, obtain a tax residency certificate and an advance tax ruling, apostille the accounts for banks and courts abroad and strike off companies that are no longer needed. Nil accounts with audit for a company with no turnover cost from $3,100 with us; work on an active company is billed by the hour. The full price list is in the table below, and the quote is fixed in writing before work starts. If you have no company yet, start with company registration in Cyprus; owners' taxes are covered on our Cyprus taxes page.
Fees
| Service | Price |
|---|---|
| Nil accounts filing with audit | €2 700 |
| Active-company accounts and audit, hourly rate | from $90 |
| VAT registration | €2 500 |
| VAT/VIES/INTRASTAT returns, per hour | from €90 |
| OSS registration | €1 200 |
| EORI number obtainment | €1 500 |
| Company strike-off | from €1 480 |
| Tax residence certificate | €950 |
| Advance tax ruling | from €3 800 |
| Apostille of accounts | from €480 |
Without audited accounts a Cypriot company cannot file its tax return
In Cyprus an audit is compulsory even for a company with no turnover, and the 2026 accounts are the first after the tax reform with a 15% rate instead of 12.5%. The usual mistakes: leaving the accounts to the last day and paying a penalty for a late annual return, not recalculating tax under the new rules and, without a filed return, being unable to get the tax residence certificate the bank asks for. We keep the books, prepare the accounts, arrange the audit and file the returns on time.
Dormant accounts with an audit cost about $3,100, and an active company's accounts are billed hourly from $90; a manager will calculate the total in the chat.
FAQ
Is an audit mandatory for a Cyprus company?
How much does a Cyprus company audit cost?
When are Cyprus company accounts due?
What is the penalty for a late annual return?
Do I still pay the annual company levy?
What is the Cyprus corporate tax rate in 2026?
How does a financial statements audit work in Cyprus?
Will the owner's home tax office accept the Cyprus accounts?
Does your Cyprus company need an audit?
We prepare your Cyprus company's financial statements, arrange the statutory audit and file the tax return. The catalogue covers reporting in every country.
The Murblz consultant replies straight away in the chat on this page. Describe your situation and we will work it out together.
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