Trustank Corporate

Accounting services focused on accuracy, compliance, and IFRS standards.

Compliance

Monthly Bookkeeping

VAT, VIES & OSS

Payroll

We keep your books clean, your compliance tight and your tax position planned in advance, so you can grow faster without surprises from banks or regulators.

 Big 4–level accounting expertise supporting scalable, investor-ready growth

IFRS-compliant financials that stand up to audits, banking reviews and due diligence

One integrated team handling accounting, VAT, payroll and governance without operational friction

Lower total cost of ownership compared to in-house teams, freeing capital for growth

Clean structure, predictable compliance and reporting that reduces risk and protects valuation

Simple Cyprus Accounting Setup

Start-up checklist

A brief call to understand your business activities and transaction volume.

Software access

We give you a login to the accounting portal so you can start uploading invoices

Calculations & filings

After VAT, VIES and employer registrations are active, we run monthly payroll (PAYE & Social Insurance) and submit statutory returns on schedule.

Financial statements

We prepare corporate tax calculations, compile transaction listings and invoices, build the audit pack with trial balance and schedules, and coordinate the annual financial audit.

All Services • One Contract

Cyprus, in Simple Business Terms

  • IFRS as standard

    Financial statements follow IFRS, in English if you wish, so banks, investors and auditors understand them without translation.

  • Broad clear deductibility relief

    Business costs that are wholly and exclusively incurred are deductible with proper invoices. Fewer grey areas, predictable results.

  • Digital compliance workflow

    Online portals for VAT, VIES, payroll and Registrar e-filings keep submissions predictable and traceable.

  • Losses you can use

    Tax losses carry forward and group relief can offset profits across Cyprus entities in the same year.

  • Treaty network & light outbound frictions

    A wide treaty network and generally no withholding on dividends to non-residents help you move profits cleanly when the structure is right.

  • EU VAT, VIES and OSS ready

    An EU VAT number and VIES reporting make B2B invoicing across the EU straightforward when rules are followed.

FINANCIAL PERSPECTIVE

Accounting is not about reporting numbers. It is about making sure those numbers survive scrutiny.

Nina Timochidou

Financial Director, Trustank Corporate Services Ltd

Related Publications

Year-end Accounting in Cyprus

Year-end accounting in Cyprus: tidy books and tax smart moves

Year-end accounting in Cyprus keeps your books clean, filings accurate, and taxes optimised. Discover how to close your year smartly and stay compliant.

Frequently Asked Questions

Invoices in and out, bank or EMI statements, payroll changes, and any contracts that affect revenue or costs.

As soon as onboarding is done and we have portal access and opening balances. We can take over mid-year and tidy the books to date.

€15,600 of taxable turnover on a rolling 12-month basis. We track it and let you know when registration is required. Many clients choose to register from day one if they need to issue VAT invoices immediately.

VAT is usually quarterly. VIES is monthly for intra-EU supplies.

Yes. We prepare a clean audit pack, answer routine queries, and keep numbers aligned with minutes and contracts.

We calculate provisional tax and handle the two instalments each year, then true-up at year end to avoid interest and penalties.

Companies estimate current-year profit and pay in two equal instalments on 31 July and 31 December, with a revision possible later if needed.

Yes. We prepare the application and supporting schedules and file it with the Tax Department.

We calculate and document dividends, update registers, and handle SDC or GHS and any filings. You receive clear statements per shareholder.

If expenses are wholly and exclusively for the business and properly documented, they are generally deductible. An experienced accountant can advise on handling them in the company’s best interests.

We scale bookkeeping and payroll capacity, automate data capture where sensible, and adjust the package so filings remain on time and audit packs stay clean.

Can we switch from our current accountant to you?

We maintain a compliance calendar for VAT, VIES, payroll, Annual Return and UBO confirmation, with reminders before anything is due.

Yes. We follow Cyprus and EU privacy rules, restrict access to need-to-know staff, and maintain a clean digital file for audits and banks.

Yes. One contract covers the bundle, including accounting, VAT or VIES, payroll, and the audit handover, with no hidden fees.

Calendar year from 1 January to 31 December. The TD4 corporate return is due 31 March of the second year after the tax year. The balancing tax is generally due 1 August of the following year.

Have more questions?

Accounting Package

Our Services

  • Bookkeeping & tax optimisation

    Monthly bookkeeping (20 to 30 transactions, additional charges apply for more), tax compliance and strategic tax planning aligned with your activity.

  • Salary calculation & payslip preparation

    Payroll management for up to 10 employees (additional charges apply for more), including salary calculations and payslips.

  • VAT returns & compliance

    Preparation and submission of periodic VAT returns and related compliance checks. Like all EU member states, the Cyprus VAT reporting calendar is on an annual basis.

  • VIES returns

    Preparation and submission of required VIES statements for VAT registered persons who carry out intra Community supplies of goods or services.

  • Social Insurance contributions & PAYE tax filings

    Handling the relevant filings and assistance with the monthly payment of contributions.

  • Official document issued by an employer showing total income paid during a tax year with deductions such as PAYE tax and social insurance.

    An EU VAT number and VIES reporting make B2B invoicing across the EU straightforward when rules are followed.

  • Employer’s return (T.D.7)

    Preparation and submission of the Employer’s Return to the Tax Department.

  • Personal income tax return (T.D.1)

    File your yearly tax declaration with the Tax Department.

  • Provisional tax calculation

    Calculate and pay provisional tax in two instalments in July and December.

  • Dividends declaration & withholding compliance

    Profit and solvency check with distributable reserves confirmed, resolutions and minutes prepared, SDC and GHS calculated per shareholder, outbound withholding and treaty position reviewed, payment files and notices issued, statutory filings and remittances made with proof, and registers and your digital company file updated. Additional charges apply for multiple distributions in a year.

  • Tax clearance & tax residency certificates

    Application for necessary certificates for international tax planning or corporate structuring.

  • Non domiciled registration

    Official confirmation that a person is tax resident in Cyprus but not domiciled for tax purposes.

  • Accounting system setup & support

    Set up and maintain cloud accounting that automates routine work, improves accuracy, and gives you 24/7 access to upload invoices, review real time reports, and monitor performance from anywhere.

Suitable for

Newly established businesses starting operations in Cyprus, established groups adding a Cyprus entity, and dissatisfied clients who want to move their accounting from another provider to Trustank.

  • Startups

    Get the basics correct from day one and avoid clean up costs later.

  • Groups

    Reporting and filings aligned with the wider structure and banking needs.

  • Switching providers

    Orderly takeover, tidy records, and predictable compliance going forward.

ANNUAL FEE

€ 3,850 annually

*Special rates are available for multi company setups.

Let’s build your business together

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