Joannides + Co. is a leading firm of public accountants and consultants based in Cyprus, offering services in audit, taxation, accounting, management consultancy, corporate finance, information technology and other specialised areas.



- Statutory audits -


Cyprus registered entities are obliged to submit to the Inland Revenue annual tax returns which are based on financial reports prepared under International Financial Reporting Standards and the Cyprus Companies law, and audited by Certified Public Accountants and Registered Auditors.


The audit function is often perceived by businesses as a cost which provides no value to their operations, however the audit managers at Joannides + Co Ltd, adopt audit procedures which are designed for the specific circumstances of their clients, aim to meet the statutory requirements and comply with auditing standards and at the same time utilise the opportunity to identify improvements of their financial reporting systems and processes and assist to implement solutions which improve the business performance of their companies.



- Internal audits -


Internal audit services have been increasing in the past years as entities are trying to evaluate and improve the effectiveness of internal controls and risk management processes to accomplish their strategic objectives.


The internal auditors at Joannides + Co Ltd can undertake assignments to review existing internal audit processes and advice on their improvements, undertake to provide internal audit services to entities  for management and regulatory purposes and carry out ad hoc investigations to detect fraud.



The tax advisors at Joannides + Co Ltd can assist international and local corporate entities and private individuals to identify and develop tax strategies which aim to minimise their tax liabilities and also assist them to minimise their tax exposure to the increased reporting obligations, tax investigation policies and penalties imposed in recent years by the tax authorities.

In the past decade Cyprus has developed into a reliable financial center, member of the EU and fully committed to OECD initiatives against harmful tax practices.

The stability of the tax system, the uniform corporate tax of 12,5% and  the extensive network of double tax treaties have contributed to rank the island as a serious EU tax jurisdiction for both outbound and inbound investments, where  non EU companies are seeking to expand their operations into the  EU and more often when EU companies are seeking to expand their operations outside the EU.

The most popular international tax structures which are used in Cyprus are holding structures, group financing structures, royalty holding entities, trading entities and securities trading entities.

- International tax planning -

•   Determine cross border  tax consequences

•   Implement tax efficient structures









•   Assist in the tax compliance and filing of the tax

     returns to the authorities


•   Assist in the preparation of provisional tax returns


•   Assist in the preparation of tax computations


•   Represent clients before the tax authorities


•   Assist to obtain tax rulings from the tax authorities



- Private individuals tax planning -


•   Assist in the tax compliance and filing of the tax

     returns to the authorities


•   Assist in the preparation of provisional tax returns


•   Assist individuals to determine their personal tax



•   Represent clients before the tax authorities



- VAT services -


•   Determine VAT treatment


•   Assist in registration to VAT, Intrastat and VIES



•   Assist to prepare and submit VAT, VIES and 

     Intrastat returns


•   Assist the VAT compliance and filing of returns to

     the authorities


•   Review of VAT reporting procedures


•   Represent clients before the VAT authorities


The business support managers at Joannides + Co Ltd have developed over the years sound skills and experiences which enable them to provide continuous  support with the ultimate objective being to improve the business performance of their clients which is the cornerstone of the development of a long term business relationship.

- Business start ups and planning -

•   Development of business plans for management

     consideration or raising of finance

•   Determine the legal structure of the proposed

     business entities

•   Determine the financial reporting requirements

•   Discussions with the bankers in raising the most

     appropriate and cost effective  financing

•   Registration with the regulatory authorities - tax,

     VAT, customs and social insurance office.

- Accounting services -

•   Initiate bespoke training programs to clients’ in

     house accounting  personnel

•   Set up of financial processing and reporting


•   Set up of internal control systems and

     management reporting systems

•   Determine the efficiency and effectiveness in

     outsourcing the accounting function

•   Providing the complete outsourced accounting







- Payroll services -


•   Registration of companies with the tax and social 

     insurance office


•   Registration of employees with the tax and social

     insurance office


•   Calculation of PAYE and other statutory



•   Payroll processing and electronic transfer of funds


•   Administration of payments to the statutory funds




The AIFs Law enacted in July 2014, enhanced the attractiveness of Cyprus as an investment fund destination by opening the market for registration and operation of new flexible and innovative types of alternative funds, fully compliant with the EU legal order.


The new AIFs Law expanded the possible legal forms of funds that may now take the form of a common funds, variable capital companies, fixed capital companies, or limited partnerships. The new law also introduces umbrella funds with segregated investment compartments, funds marketed to professional or retail investors as well as funds with limited or unlimited number of participants.



At Joannides + Co Ltd

consulting managers can undertake to assist companies, particularly during periods of economic slow down, to rethink their strategies and formulate plans to address issues relating to existing or future business ventures.


consulting services provided are:


  • Business due diligence, Business valuations 

  • Mergers and acquisitions

  • Business process reviews

  • Corporate finance and loan restructuring

  • Product costing and budgeting

  • Human resource management

  • Corporate recovery services