Companies registered in Cyprus
are required to submit their financial statements
following specific regulations. The procedure can differ in accordance with the legal entity of the company
, the period since the company
has been incorporated or its yearly profits. Investors carrying operations on the Cypriot market
are advised to study the requirements imposed in this sense and to receive legal advice from our team of Cypriot lawyers
, who can provide an in-depth presentation on the legal matters referring to this issue.
Deadline to submit financial papers in Cyprus
All companies carrying commercial activities in Cyprus
are required to submit their financial statements and tax returns
no later than 31st December. However, if the management of the company
decides to submit the financial documents
on an electronically basis, the provisions of the Cyprus Company Law
specify an extended period of 3 months from the above mentioned date. As such, the financial statements
can be submitted by 31st of March; our team of Cypriot attorneys
can offer more details on this matter.
How to submit financial statements in Cyprus
The Cypriot legislation
stipulates that a company
must submit its financial statements
at the Registrar of Companies
, by filing the documents together with the Annual Return. When submitting the documents
, the investors will have to provide a certificate which will certify that the statements represent true copies of the ones presented during the Annual General Meeting (AGM).
It is important to know that the financial statements of a Cypriot company
will become available to the general public and they can only be submitted if such documents were approved by the following:
• the Board of Directors;
• the company’s secretary;
• the AGM.
In several cases, such documents will also have to be audited by an external auditor. However, small and medium sized companies are not required to audit the financial statements, as prescribed in the Company Law.
An important aspect is that newly formed companies do not have to submit any financial documents for the first year of activity, but the documents should be registered at the Registrar of Companies within 18 months since the incorporation.
Businessmen interested in receiving further details referring to the financial statements
and the procedure to submit them at the local authorities can address to our Cypriot law firm