PROFECYS LTD is a tech-driven accounting, tax and business advisory firm in Cyprus, supporting expats, entrepreneurs, startups and international businesses. As a Xero Certified Partner, we provide cloud-based accounting, real-time financial reporting, bank integrations and automated bookkeeping, giving clients a clear and up-to-date view of their business performance. Our services include accounting and bookkeeping, Cyprus tax and VAT compliance, payroll, management reporting, tax planning, business advisory and support for companies establishing or relocating operations to Cyprus. Our goal is to go beyond traditional accounting by combining professional expertise with technology, automation and practical business advice. Accounting | Tax | Advisory | Business Strategy
PROFECYS LTD is a technology-driven Accounting, Tax and Business Advisory firm based in Cyprus, supporting entrepreneurs, expatriates, startups, technology companies and international businesses that want to establish, relocate or grow their operations in Cyprus.
We provide much more than traditional accounting. Our objective is to become a **long-term financial and strategic partner** to our clients, combining accounting, taxation, technology and business advisory under one relationship.
Cyprus Company Formation & Business Set-Up
For entrepreneurs and international professionals looking to establish a business in Cyprus, we provide **end-to-end support from initial planning through to ongoing operations**.
Together with our professional partners, we assist with Cyprus company incorporation and subsequently coordinate the practical set-up of the business, including:
* Company formation and structuring
* Tax registration
* VAT and VIES registration, where applicable
* Employer and Social Insurance registrations
* Accounting and financial system set-up
* Corporate and statutory compliance
* Payroll
* Banking preparation and operational support
* Ongoing accounting, tax and advisory services
Our approach is particularly suitable for expatriates who want **one professional point of contact in Cyprus** rather than having to coordinate separately with multiple service providers.
Xero Certified Partner & Real-Time Accounting
PROFECYS is a Xero Certified Partner and places technology at the centre of the accounting process.
We help clients move away from the traditional model where financial information is reviewed only months after transactions have taken place.
Through cloud accounting, automation and integration with banking and other business systems, our clients can benefit from:
* Real-time and continuously updated accounting records
* Bank feeds and bank integrations
* Digital invoicing and expense management
* Automated accounting processes
* Real-time monitoring of receivables and business performance
* Management reports
* Profitability and cash-flow analysis
* Access to financial information from anywhere
* Better and faster management decision-making
Our goal is not simply to tell you what happened last year, but to help you understand what is happening in your business today and what you should do next.
Specialist Support for Technology & IP-Based Businesses
PROFECYS has a particular interest and expertise in supporting technology companies, software businesses, SaaS companies, developers and businesses whose value is driven by Intellectual Property.
Cyprus offers an established **IP Box framework** for qualifying intellectual property, including eligible copyrighted software and other qualifying IP assets.
We assist businesses in understanding whether their activities may qualify and in developing the appropriate accounting and tax framework around their intellectual property, including:
* Cyprus IP Box assessment and planning
* Identification of qualifying IP activities and income
* Accounting treatment and tracking of IP-related expenditure
* Tax computations and compliance
* Nexus approach considerations
* Intellectual Property structuring
* R&D and development-cost analysis
* Notional Interest Deduction considerations where relevant
* Ongoing monitoring and documentation
For technology entrepreneurs relocating to Cyprus, this allows us to look at the **business model, intellectual property, tax structure and accounting system together**, rather than treating each area separately.
Cyprus Tax, VAT & International Business Advisory
Our tax team supports companies and individuals with both ongoing compliance and strategic tax planning.
Our services include:
* Cyprus Corporate Income Tax
* Tax planning and business structuring
* VAT and VIES compliance
* Cross-border VAT matters
* Provisional and final tax calculations
* Payroll taxation
* Dividend and shareholder taxation
* Tax-efficient business planning
* Corporate restructuring support
* International and cross-border business considerations
We believe that good tax planning should be integrated into the commercial reality of the business and should always be supported by appropriate accounting records and genuine business operations.
Cyprus Tax Residency & Relocation
We also support entrepreneurs, executives and expatriates who are considering making Cyprus their personal and professional base.
Our advisory services include guidance regarding:
* Cyprus tax residency
* The 60-day and 183-day residency rules
* Cyprus Non-Domicile considerations
* Director and shareholder taxation
* Establishing a Cyprus business
* Personal and corporate tax compliance
* Coordination of the financial aspects of relocation
This enables us to support both **the individual and their business** as part of one overall Cyprus strategy.
Business Substance in Cyprus
For international companies, establishing a Cyprus entity is only the beginning.
We assist businesses in developing an appropriate level of **economic and operational substance in Cyprus**, taking into consideration their management, employees, premises, banking, accounting records, contracts and actual business operations.
The objective is to build a Cyprus operation that is commercially practical, properly administered and supported by the appropriate level of documentation and compliance.
Accounting, Audit & Ongoing Compliance
Once your business is operational, PROFECYS can manage its ongoing financial and compliance requirements, including:
* Bookkeeping and accounting
* Management accounts and financial reporting
* Payroll
* VAT and VIES returns
* Corporate tax compliance
* IFRS financial statements
* Audit coordination
* Annual corporate compliance
* Business advisory
* Financial planning and analysis
This means our clients can focus on running and growing their businesses while our team manages the financial, tax and compliance infrastructure behind them.
More Than Accountants
At PROFECYS, we believe modern businesses need more than an accountant who records historical transactions.
They need a professional partner who understands technology, taxation, financial performance and business strategy.
Whether you are an expatriate establishing your first Cyprus company, an international entrepreneur relocating your operations, a technology company considering the Cyprus IP framework, or an established business looking for better financial visibility, our team provides a modern and personalised approach.
PROFECYS LTD
Accounting | Tax | Advisory | Business Strategy
Technology-driven. Real-time. Strategically focused.
Get in touch
Similar businesses
