Starting a business in Cyprus is easier when you know which records to keep and who is handling each task. This practical checklist is for Cyprus-registered companies and businesses based in Cyprus whose owners prefer clear explanations in English. Asticrest’s native English-speaking team can help organise your bookkeeping from the outset.
1. Agree your bookkeeping responsibilities
Before your first month of trading, agree what your bookkeeper will handle, what you must provide and which tasks need separate tax, audit or legal advice. Confirm the scope, fee, document delivery method and timetable. Bookkeeping support does not automatically include every registration, filing or statutory obligation.
2. Check the registrations that apply
Confirm your tax registration and access to the relevant government systems. Check whether VAT registration applies to your activity, turnover and transactions, including dealings with overseas customers or suppliers. Do not assume that every new business must charge VAT or that turnover is the only registration trigger.
If you will employ staff, arrange employer registration and the required employee notifications before they start. Discuss payroll, social insurance and employment information early. Requirements depend on your business and circumstances.
3. Keep records from your first transaction
- Sales invoices, credit notes and sales reports.
- Supplier invoices, receipts and evidence of business expenses.
- Business bank statements and payment-provider statements.
- Loan agreements, funding records and explanations of owner payments.
- Contracts, leases and records of equipment purchases.
- Relevant payroll records where you employ staff.
Keep business transactions clearly identifiable. Explain any business costs paid personally and any personal payments made from a business account. A bank entry alone may not explain what was bought or its tax treatment; keep the supporting document.
4. Build a simple monthly routine
- Collect the month’s invoices, receipts and statements.
- Send them through the method agreed with your bookkeeper.
- Explain unusual transactions and respond to questions about missing items.
- Review the agreed reports and the outstanding information list.
- Check upcoming filing and payment dates with the person responsible.
Tell your bookkeeper promptly about new employees, overseas transactions, changes to your activity or new payment platforms. These changes can affect the information and registrations you need.
5. Know which deadlines are yours
Create a calendar for the obligations that apply to your business. Confirm who prepares each return, who approves it, who submits it and who makes the payment. Keep submission confirmations and payment records. See our Cyprus tax facts and deadlines and check your assigned dates rather than relying on a generic calendar.
Common questions from English-speaking owners
Do I need to speak Greek to work with Asticrest?
No. You can discuss your bookkeeping records and questions with our native English-speaking staff. We explain the steps in plain English and clarify any information we need from you.
What if my records are incomplete?
Tell us what you have and which periods are missing. We can discuss catch-up bookkeeping, identify the documents needed and agree a practical scope.
Can I change provider during the year?
You can discuss a change during the year. The handover needs to cover records, opening balances, completed filings and outstanding tasks. Read about switching your bookkeeping to Asticrest.
Start with a conversation
Tell us what your business does, when trading begins and whether you employ staff. We will discuss the bookkeeping support you need and agree the scope and fee. Explore our bookkeeping services or contact our Limassol team.
Official information
For current requirements, consult the Cyprus Business Information Portal, the Tax Department’s books and records guidance, and the official employer registration information.
Reviewed 9 October 2026. This is a practical bookkeeping checklist; the registrations and obligations that apply depend on your circumstances. Confirm your requirements before acting.