Best Accounting & Auditing Lawyers in Limassol

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Limassol, Cyprus

Founded in 2023
English
Ioannou & Sharpe LLC, established in 2023, is a Limassol-based law firm specializing in commercial, corporate, real estate, injury and accident law, and civil litigation. The firm is recognized for delivering tailored legal solutions and proactive strategies, emphasizing open communication and...
Limassol, Cyprus

English
ERMINA PAPASOLOMOU & CO LLC, based in Limassol, Cyprus, offers a comprehensive range of legal services to individuals, businesses, and international clients. The firm's experienced lawyers specialize in corporate and commercial law, property law, family law, contract law, banking law, inheritance...
Andreas Danos Law Firm
Limassol, Cyprus

Founded in 1968
6 people in their team
English
Greek
Russian
The Andreas Danos legal agency - Cyprus Lawyers is a dynamic law firm based in Cyprus, offering a range of legal services such as contract law, corporate law, family law, immigration law, intellectual property law, etc.Our dedicated team of lawyers take pride on the extensive and expanding client...
AuditNet
Limassol, Cyprus

Founded in 1993
English
AuditNet is a leading Cyprus-based firm renowned for its comprehensive expertise in chartered accountancy, auditing, and financial consulting services. With a strong foundation in professional integrity and technical excellence, the firm provides tailored solutions to individuals, corporations, and...
NICOLAS EROTOCRITOU & CO LLC
Limassol, Cyprus

Founded in 2020
6 people in their team
English
Greek
NICOLAS EROTOCRITOU & CO LLC, founded in 2020, is a distinguished law firm based in Limassol, Cyprus. The firm offers tailored solutions for forming, maintaining, and administering Cyprus legal entities and international corporate structures. Specializing in corporate law, tax planning, and...

Founded in 2017
English
Hadjiloizou, Hadjinikolaou & Co LLC is a boutique law firm based in Limassol, Cyprus, dedicated to delivering high-quality legal services tailored to each client's unique needs. The firm emphasizes a client-centric approach, ensuring that every individual or entity receives personalized attention...

Founded in 2015
English
Soteris Flourentzos & Associates LLC is a distinguished legal practice based in Cyprus, providing comprehensive services in law, business administration, and legal consultancy. The firm combines deep local insight with broad international experience, allowing their team to handle complex matters...
Theophilou Law Office
Limassol, Cyprus

Founded in 1976
English
Theophilou Law Office, established in 1976 by Andreas Chr. Theophilou in Limassol, Cyprus, has built a distinguished reputation for providing comprehensive legal services. The firm specializes in litigation, corporate and fiduciary services, shipping law, contract law, real estate, and citizenship...
AAS-Law
Limassol, Cyprus

English
AAS-Law, based in Cyprus, offers a comprehensive range of legal services tailored to meet the diverse needs of its clients. The firm's areas of expertise include Alternative Dispute Resolution, Litigation, Property Law, and Commercial Law, among others. This breadth of services enables AAS-Law to...
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About Accounting & Auditing Law in Limassol, Cyprus

Accounting and auditing laws in Limassol, Cyprus, are comprehensive, covering multiple areas like tax, banking, and business laws. These regulations mandate businesses with financial reporting, conducting annual audits, and maintaining accurate financial records. Cyprus has a robust legal framework that aligns with international accounting standards (IAS) and the International Financial Reporting Standards (IFRS), ensuring transparency and credibility in business transactions.

Why You May Need a Lawyer

Complexities related to tax, compliance with financial regulations, and dealing with audits are instances when you may need a lawyer. If you are setting up a new business, the legal implications of the accounting and auditing laws can have significant effects on your investments. A lawyer can provide the necessary guidance to navigate these laws properly. Moreover, in cases of disputes or allegations of financial irregularities, lawyers specializing in accounting and auditing laws in Cyprus will provide the much-needed legal representation.

Local Laws Overview

The key aspect of accounting and auditing laws in Cyprus revolves around the Companies Law Cap. 113. It governs the operations, accountability, and financial transparency of all companies operating in Cyprus. Also, the law mandates that all businesses must maintain appropriate accounting records and prepare statements compliant with IFRS. In auditing, laws stipulate that every company, except dormant ones, undergo an annual audit by a licensed Cyprus auditor to ensure financial integrity and transparency.

Frequently Asked Questions

What is the accounting period in Cyprus?

The accounting period in Cyprus is typically one calendar year. However, for newly incorporated entities, the first period may be up to 18 months.

Who can conduct audits in Cyprus?

Audits in Cyprus must be conducted by certified auditors who are members of the Institute of Certified Public Accountants of Cyprus (ICPAC).

What is the corporate tax rate for businesses in Cyprus?

The corporate tax rate in Cyprus is flat at 12.5%, one of the lowest in the European Union.

What are the consequences for not complying with accounting and auditing laws?

Non-compliance with accounting and auditing laws in Cyprus can result in severe penalties, including fines and even imprisonment, depending on the severity of the violation.

Can foreign companies conduct business in Cyprus?

Yes, foreign companies can conduct business in Cyprus, but they must comply with all local accounting, auditing, and tax laws.

Additional Resources

The Cyprus Securities and Exchange Commission (CySEC), the Department of Registrar of Companies, and Official Receiver are some of the relevant governmental bodies. Also, the Institute of Certified Public Accountants of Cyprus (ICPAC) is a significant resource for individuals or companies seeking information or help regarding accounting and auditing laws.

Next Steps

If you need legal assistance in accounting and auditing in Cyprus, look for a lawyer with expertise in this area. It is typically advisable to consult with multiple lawyers to understand different perspectives. Legal experts can help guide you on how to comply with these laws and offer advice to prevent violations. Before meeting a lawyer, prepare a list of all your specific queries to make the consultation effective and productive.

Lawzana helps you find the best lawyers and law firms in Limassol through a curated and pre-screened list of qualified legal professionals. Our platform offers rankings and detailed profiles of attorneys and law firms, allowing you to compare based on practice areas, including Accounting & Auditing, experience, and client feedback. Each profile includes a description of the firm's areas of practice, client reviews, team members and partners, year of establishment, spoken languages, office locations, contact information, social media presence, and any published articles or resources. Most firms on our platform speak English and are experienced in both local and international legal matters. Get a quote from top-rated law firms in Limassol, Cyprus - quickly, securely, and without unnecessary hassle.

Disclaimer:
The information provided on this page is for general informational purposes only and does not constitute legal advice. While we strive to ensure the accuracy and relevance of the content, legal information may change over time, and interpretations of the law can vary. You should always consult with a qualified legal professional for advice specific to your situation. We disclaim all liability for actions taken or not taken based on the content of this page. If you believe any information is incorrect or outdated, please contact us, and we will review and update it where appropriate.