Changing accountant in Cyprus is a standard, regulated process: your new firm writes to the old one for professional clearance, receives the records and takes over. A clean switch completes in two to four weeks. The traps are timing, unbilled catch-up work and unclear ownership of the current year's filings.
How the handover works
| Step | Who does it | Watch for |
|---|---|---|
| 1. Choose the new firm | You | Quote based on your real transaction volume, not the old firm's invoice |
| 2. Professional clearance letter | New firm | Outstanding fees at the old firm can delay release of records |
| 3. Records transfer | Old firm to new firm | Confirm the full list below actually arrives |
| 4. Records review | New firm | This is where catch-up work is discovered; get it quoted separately |
| 5. Authorities updated | New firm | Tax portal access, VAT agent details, payroll registrations |
What must be handed over
- Last filed financial statements and the trial balance they were built from
- General ledger and bookkeeping files for the current and prior year
- VAT and VIES returns with workings, and the VAT account status
- Tax computations, filed returns and any open Tax Department correspondence
- Payroll records, social insurance filings and employee registrations
- Statutory records access: registered office and secretary arrangements if the old firm provided them
When to switch
The cleanest moment is right after the year closes and last year's statements are filed: the old firm finishes its year, the new firm starts fresh. Switching mid-year is fine when service has broken down, but put in writing who completes the current year's VAT returns and financial statements, and at what fee, before you move. Never leave the current year "shared".
What it should cost
The handover itself is normally free or minimal. What costs money is history: if bookkeeping is months behind or prior filings need fixing, the new firm will quote catch-up work. Insist on two numbers in every quote, the ongoing annual fee and the one-off catch-up fee, so you can compare firms on the part that recurs. Detail on typical fee ranges is in the annual cost guide.
Methodology and disclaimer
Based on ICPAC professional clearance practice and normalized quotes from regulated Cyprus accounting firms, last verified 16 July 2026. CyprusClarity is a comparison and matching platform, not an accounting firm; confirm specifics with the regulated firm you engage.