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Real Estate & Construction

The construction and real estate industry has experienced significant growth in recent years, to slow drastically during the 2013 recession. In Cyprus, property prices have reached unprecedented high levels, coupled with intense construction activity; all reinforced by significant foreign investment.

In a very dynamic and changing industry, with rapid unexpected changes in market conditions, regulations, financial reporting requirements and taxes have become very complex. Our team of professionals with all-round, in-depth knowledge of the industry can help you address issues like the impact of changing financial reporting standards, tax legislation, tax structuring and compliance, financing options, business development strategies and feasibility studies.

In CYAUSE Audit Services Ltd we help you reduce your financial risks in order to achieve sustainable growth in a fast changing and very dynamic industry.

Similarly to the Travel Industry the Real Estate and Construction Industry VAT laws and regulations tend to change every few years therefore it is imperative to always ensure that our clients are informed with the latest VAT developments affecting their businesses.


Expertise

We currently perform the accounting and audit services for several property company of local and international interests. Our main challenges were the absorption costing of all overheads and the VAT treatment of such overheads which could be challenged by the local Cyprus VAT office.


We have managed to save tens of thousands of Capital Gains Tax through the correct tax set up of small group to take advantage of the double tier tax scheme (which is no longer available).