Thursday, 20 Feb 2020

How to Hire a Good International Accountant in Cyprus

Cyprus is one of the European countries with the lowest taxes. It is also one of the most business-friendly countries in the world. The country’s government decided to improve the business environment mostly after the 2012 financial crisis. Today, the country has become the preferred foreign destination for companies that are targeting customers in the European Union. Most of these companies are in the finance sector. In this article, we will look at the best process of hiring an international accountant in Cyprus.

Consider the Scope of Work

You first need to consider the scope of work. This is an important step because it will determine the type of accountant you will hire. If you are a large company that does a lot of work in Cyprus and abroad, you can consider hiring an accounting company like PageCorp Group. This is a company with many accountants that will help you solve navigate the accounting requirements. If you are a small company that is expanding, you can use a solo accountant. This will be cost-effective to you.

Reputation and Qualifications

After coming up with the scope of work, it is recommended that you work to get an accountant that has the right qualifications and a good reputation. The goal of doing this is to ensure that you have a qualified professional who will do a good work for you. Most importantly, they need to be certified members of the Institute of Certified Public Accountants of Cyprus (ICPAC). This is the main body of accountants in the country. It was established in 1961. A member of the body will do work in accordance to the book.

Negotiate

Companies should always negotiate with their contractors. This is simply because negotiation will help them find a good deal without compromising the quality. Whether you are using a company or a solo accountant, it is recommended that you take time to negotiate a good deal.

Sign a Contract

Accounting is a very delicate issue because accountants have access to the most sensitive information about your company. If you are a forex broker, they will have access to the database of your clients. They will also have access to some of your trade secrets and patents. Therefore, it is important to ensure that this information is guarded. The best way to do this is to ensure that the accountant signs a contract. This will ensure that the accountant takes everything seriously.

Trial Period

Another thing that you should do is to give the accountant a trial period. The goal is to help you observe the quality of work that they are doing. You can extend the contract if you believe that the accountant is doing the right thing.

Summary

Hiring an international accountant is an important thing for companies that are establishing their base in Cyprus. In this report, we have looked at the steps and main tips that companies should follow when finding quality and credible accountants. Following these tips will make it easier to find a good accountant firm or individual.