Running a Cyprus company requires a team of professionals: an accountant for bookkeeping, an auditor for annual accounts, and a company secretary. Understanding what these cost before you incorporate helps you build realistic financial models.
The total annual professional services cost for a simple Cyprus Ltd (one shareholder, no employees, moderate transaction volume) typically runs EUR 4,000-8,000 — 40-60% less than equivalent services in Ireland or the UK.
Annual Audit: Required, but a Small Company Can File a Review Instead
A Cyprus company that has stayed under both small-company thresholds for two consecutive financial years can file a review engagement (ISRE 2400) instead of a full statutory audit, and a review costs less. The thresholds, the two-year condition and the 2026 increase are set out in our guide to the annual costs of running a Cyprus company.
The obligation itself does not go away. Every Cyprus company must file financial statements reported on by an ICPAC-registered professional under the Cyprus Companies Law (Cap. 113), and size or dormancy alone brings no relief from that. What the small-company rule changes is the LEVEL of assurance, and therefore the fee. Check your own position with your auditor before budgeting a full audit fee: both tests have to be met, in both years.
| Company Type | Annual Audit Cost |
|---|---|
| Dormant company | EUR 400-800 |
| Simple holding, minimal activity | EUR 800-1,500 |
| Active trading, revenue under EUR 200k | EUR 1,000-2,500 |
| Active trading, revenue EUR 200k-1M | EUR 2,000-4,000 |
| Revenue EUR 1M+ or regulated | EUR 4,000-10,000+ |
Factors that affect audit cost: Number of transactions, multi-currency operations, employees, complexity of related party transactions, and whether records are well-organised.
Timeline: The audit is typically completed 3-9 months after financial year end. For a 31 December year end, provide records to your auditor by February-March.
Monthly Bookkeeping
Regular bookkeeping keeps records audit-ready and ensures compliance with VAT, VIES, and other monthly obligations.
| Service Level | Monthly Cost |
|---|---|
| Basic bookkeeping only | EUR 100-200 |
| Bookkeeping + bank reconciliation | EUR 150-300 |
| Full accounting service (VAT included) | EUR 250-400 |
| Complex / high volume / multi-currency | EUR 400-700 |
VAT and VIES Filing Fees
| Service | Frequency | Typical Fee |
|---|---|---|
| VAT return preparation and filing | Quarterly | EUR 50-150 |
| VIES declaration | Monthly | EUR 30-80 |
| VAT registration (one-time) | Once | EUR 150-400 |
Annual VAT compliance cost: EUR 400-1,200/year (4 returns + 12 VIES declarations).
Company Secretary Fees
| Service | Annual Cost |
|---|---|
| Registered office address only | EUR 300-700 |
| Full secretarial service + HE32 | EUR 700-1,500 |
| Including nominee director | EUR 2,000-4,000 |
Payroll Services
| Service | Monthly Fee |
|---|---|
| Single employee/director | EUR 50-100 |
| 2-5 employees | EUR 80-200 |
| 6-10 employees | EUR 150-300 |
TD603 Filing (Dividend GESY)
Each time dividends are declared, the TD603 must be filed on TAXISnet and GESY paid.
| Service | Fee |
|---|---|
| TD603 per filing | EUR 30-80 |
| Annual bundle (12 months) | EUR 200-500 |
Total Annual Professional Costs: Realistic Budget
Simple solopreneur (non-dom, dividends only, VAT registered, no employees):
| Service | Annual Cost |
|---|---|
| Annual audit | EUR 1,200 |
| Monthly bookkeeping (EUR 200 x 12) | EUR 2,400 |
| Quarterly VAT returns (EUR 100 x 4) | EUR 400 |
| Monthly VIES (EUR 50 x 12) | EUR 600 |
| Company secretary | EUR 1,000 |
| TD603 filings (EUR 50 x 12) | EUR 600 |
| Total | EUR 6,200 |
Active SaaS with employees:
| Service | Annual Cost |
|---|---|
| Annual audit | EUR 2,500 |
| Monthly bookkeeping (EUR 400 x 12) | EUR 4,800 |
| VAT + VIES compliance | EUR 1,200 |
| Company secretary | EUR 1,000 |
| Payroll (2 employees, EUR 150 x 12) | EUR 1,800 |
| Total | EUR 11,300 |
What Affects the Price
Increases your fees:
- Disorganised records (accountants charge for cleanup time)
- Late submissions
- Multiple bank accounts or currencies
- High transaction volume
- Late start to audit process
Keeps fees low:
- Cloud accounting software (Xero, QuickBooks)
- Organised receipts and records
- Low transaction volume
- Prompt document delivery
Questions to Ask When Hiring a Cyprus Accountant
- What is your ICPAC membership number? (Verify at icpac.org.cy)
- Do you have experience with non-dom clients and dividend structuring?
- What accounting software do you use?
- What is included in your monthly retainer vs billed separately?
- What is your typical response time for queries?
- Do you speak English fluently?
Find ICPAC-registered accountants at CyprusDesk.
For a checklist of everything you need to provide your accountant annually, see documents for your Cyprus accountant. If you are considering switching firms, the how to change Cyprus accountant guide covers the handover process step by step.
Disclaimer: Fee ranges are estimates based on market research as of 2026. Always get quotes from multiple providers. Find Cyprus accountants at CyprusDesk.