Running a limited company

Contents
Directors’ responsibilities
Taking money out of your Cyprus Company
Cyprus Company changes you must report to the Registrar of Companies of Cyprus
Cyprus Company Records you must keep
Accounting Records you must Keep
Prepare Annual Financial Statements
Obligations of the Cyprus Company to the Registrar of Companies
Obligations of the Cyprus Company to the Registrar of Taxation
Obligations of the Cyprus Company to the Social Insurance Services

Accounting Records you must keep

You are required by Law to keep proper books and records of your Cyprus Limited Company that are considered necessary to prepare the Financial Statements of the company at the end of each Financial year, which must include:

  • details of the assets that the company owns
  • debts the company owes or is owed
  • inventory the company owns at the end of each financial year
  • the calculations you used to work out the inventory figure
  • all money spent by the company, for example receipts, petty cash books, orders and delivery notes
  • all money received by the company, for example invoices, contracts, sales books and till rolls
  • any contracts signed by the company
  • any other relevant documents, for example bank statements and correspondence

You must keep the records 6 years after the end of the financial year they are related to and must be ready and available for inspection by the relevant authorities (in case of an investigation).