Terms of business

Last updated: September 2026

These terms describe how we work. They are a summary for people considering engaging us. They do not replace the engagement letter and terms and conditions signed for a particular piece of work, that signed agreement governs, and where anything here differs from it, the signed agreement prevails.

Who you are engaging

Depending on the service, your engagement will be with Lappas & Co Limited (HE 199355), a licensed administrative service provider in Cyprus, or with Lappas Accounting Ltd, licensed by the Institute of Certified Public Accountants of Cyprus to practise as an accounting firm and to provide administrative services in Cyprus.

The engagement letter names the contracting entity. Both are part of the same group and work from the same office in Limassol. Every engagement runs through one of those two companies, including work presented under the RelocateNow or Lappas Properties names.

Scope of our engagement

What each engagement covers is set out in the engagement letter and its appendices for that client. We are responsible for the services expressly agreed there, and we have no obligation to provide services not agreed in writing.

Additional services can be requested at any time. Where we agree to them, they are governed by the same terms and may carry additional fees.

Legal, tax, accounting, investment and other regulated or professional services are provided only where expressly agreed in writing under a separate engagement or scope of services. Nothing in a fiduciary or administrative engagement should be read as including them.

Our responsibilities

We provide our services with reasonable skill, care and diligence, in accordance with generally accepted professional standards and the requirements that apply to us as a regulated firm.

Where a matter is material or non-routine we will consult you before acting, unless the circumstances genuinely require immediate action.

All of our work is subject to compliance with applicable law, regulation and sanctions. We will not provide, or continue to provide, a service where doing so would in our reasonable opinion breach those obligations.

Your responsibilities

Our work depends on what you give us. You agree to:

• Provide accurate, complete and timely information
• Respond promptly to requests for instructions, information or documentation
• Disclose all material facts relevant to the services
• Tell us promptly of any material change affecting the services or the entity concerned
• Comply with all applicable laws, regulations and sanctions
• Pay fees, disbursements and expenses when due

Where information reaches us late, incomplete or inaccurate, deadlines can be missed and filings can be wrong. That is the single most common cause of difficulty in this work, and it is worth saying plainly rather than burying in a clause.

Instructions

You may name authorised persons who can give us instructions on your behalf. We are entitled to act on instructions we reasonably believe come from you or from an authorised person, and to rely on them without further enquiry.

We may ask for confirmation of any instruction, require it in writing, or decline to act on one that is unclear, incomplete, inconsistent or unlawful. For material matters, changes to corporate structure, disposals of assets, significant transactions, we will generally require written instructions with supporting documentation.

Tell us in writing whenever an authorised person's authority changes. The change takes effect when we receive and acknowledge it.

Where instructions conflict

If we receive conflicting instructions, or become aware of a dispute between shareholders, beneficial owners or directors, we may suspend acting until the position is resolved. We are not arbitrators and we will not adjudicate between the parties to a dispute.

Fees

Fees are set out in the engagement letter. Fixed annual fees are invoiced in advance. Work outside the agreed scope is charged on the basis of time spent, complexity, responsibility and the level of staff involved, at the hourly rates set out in your engagement.

Reasonable out-of-pocket expenses are reimbursed. Unless your engagement letter says otherwise, invoices are payable within fourteen business days of issue, and interest may be charged on overdue amounts at 1% per month, or the maximum rate permitted by law if lower, on a simple non-compounding basis. Where fees are outstanding we may suspend work.

We may revise our fees and rates from time to time, with prior notice to you.

Anti-money laundering and client due diligence

We are subject to Cyprus anti-money laundering and sanctions legislation. Before we can act, and periodically afterwards, we are required to verify the identity of clients, directors, shareholders and beneficial owners, and to understand the source of funds and source of wealth.

This is not a formality we can waive. Where due diligence cannot be completed or maintained to our satisfaction, we cannot act, and we may have to stop acting on an existing engagement.

We are also required in certain circumstances to make reports to the authorities, and we may be prohibited by law from telling you that we have done so.

Confidentiality

We treat all non-public information obtained in the course of our work as confidential and do not disclose it to third parties without your consent.

There are exceptions we cannot contract out of. We may disclose information where it is required or requested by a competent authority, court or regulator, or where disclosure is necessary to comply with a legal, regulatory or professional obligation. We may also share information with our own professional advisers, auditors, insurers and banks, who are themselves bound to keep it confidential.

Where we are legally permitted and it is practical to do so, we will tell you before we disclose.

Personal data

How we handle personal data is set out in our privacy notice. In short: we act as controller for the data we hold about you, and in some services as processor on your behalf. We are required to retain due diligence records for a period after the relationship ends, which limits what can be deleted on request.

Limitation of liability

Our liability is limited, and the limits are set out in full in the terms and conditions attached to your engagement letter. They include a financial cap and a time limit for notifying a claim. Read that clause before you sign; we are happy to discuss it.

Nothing in any of our terms excludes or limits liability which cannot be excluded or limited under Cyprus law.

Term and termination

An engagement continues until it is terminated under the engagement letter. Either of us may terminate on written notice, and the engagement letter sets out the notice period and the circumstances in which we may terminate or resign immediately.

Termination does not affect fees, disbursements and expenses already incurred. On termination we will cooperate on an orderly handover of records, subject to the terms of the engagement.

This website

The articles, calculators and guides on this site are general information about Cyprus tax and corporate rules. They are not advice on your circumstances, no relationship is created by reading them or by using a calculator, and you should not act on them without speaking to us or to another adviser.

Rules change. Every article carries a date, and the calculators state the year of the figures they use. We update them, but we do not guarantee that everything is current at the moment you read it.

The content of this site belongs to us and may not be reproduced or republished without our permission.

Governing law

These terms, and our engagements, are governed by the laws of the Republic of Cyprus, and the courts of the Republic of Cyprus have jurisdiction.