What HLB Cyprus does

HLB Cyprus Limited is a Cyprus-registered professional services firm headquartered in Nicosia (Strovolos), originally established as a partnership in 1997 and now ranked among the largest accounting and advisory organizations in Cyprus. The firm operates as an independent member of HLB International, a global network of advisory and accounting firms spanning 150+ countries, with 8 board members and over 90 professional staff. It serves a horizontal client base ranging from small owner-managed businesses to large multinational groups and companies listed on international stock exchanges, addressing needs across audit, tax, advisory, corporate compliance, fund administration, and IT/cyber security.

The service portfolio is organized into five core lines: Audit & Assurance (financial statements audit under IFRS/ISA, internal audit outsourcing and co-sourcing, risk assurance, audit quality consultation); Advisory (transaction/M&A advisory, insolvency and recovery, marketing advisory, management consulting, technology and digital services, HR and labour law consulting); Corporate & Compliance (global accounting and payroll, corporate secretarial, fund administration); Taxation (corporate, personal, international tax planning and structuring, transfer pricing, VAT and indirect tax); and Cyber Security Services (penetration testing and vulnerability assessment delivered in partnership with Digital Investigations S.M. Ltd.). Engagements are delivered on a project or retainer basis with no publicly disclosed fee schedule.

Revenue is generated exclusively through professional services fees. The go-to-market is relationship-led, anchored by advisory relationships, referrals, and inbound flow from the HLB International global network for cross-border mandates. The firm distributes thought leadership through its website insights section, the HLB Cyprus Tax Newsletter, LinkedIn, and participation in HLB International events. The firm is privately held and discloses no financial figures; its competitive positioning rests on the combination of HLB International network reach, a partner cohort with Big Four and international pedigree, and long-standing regulatory and audit relationships with listed and multinational clients.

Name

HLB Cyprus

Legal name

HLB Cyprus Limited

Website

https://hlb.com.cy

Company type

Private

Founded year

1997

Operating status

Operating

Headcount range

11–50 employees

Short description

HLB Cyprus is a Nicosia-headquartered accounting and advisory firm serving Cypriot SMEs, multinational groups, and listed companies with audit, tax, advisory, corporate compliance, fund administration, and cyber security services through its HLB International network membership.

Ownership category

akta.pro rank

Headquarters

HQ city

Strovolos, Nicosia

HQ country

Cyprus

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Professional Services Fees: HLB Cyprus generates revenue through a comprehensive range of professional services including audit & assurance, financial advisory, business consulting, taxation (corporate, personal, international, transfer pricing, VAT), fund administration, accounting & payroll support, M&A advisory, corporate & secretarial support, banking, company formations and administration, receiverships and recovery services, and IT/cyber security services. Revenue is earned through project-based engagements, recurring advisory mandates, and retainer arrangements with clients ranging from small businesses to multinational groups and listed companies.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

HLB Cyprus is a professional services firm providing audit, tax, advisory, corporate compliance, and cybersecurity services. The firm delivers financial statements audit, internal audit, risk assurance, transaction advisory, insolvency and recovery, global accounting and payroll administration, transfer pricing, international tax planning, and penetration testing services to clients ranging from small owner-managed businesses to large multinational groups and listed companies. It operates as an independent member firm of HLB International, leveraging the global network for cross-border service delivery.

Product overview

HLB Cyprus is a professional services firm offering a comprehensive range of advisory and accounting services organized into five core service lines: Audit & Assurance (financial statements audit, internal audit, risk assurance), Advisory (transaction advisory, insolvency and recovery, marketing), Corporate & Compliance (global accounting, payroll, fund administration), Taxation (corporate, personal, international tax, transfer pricing, VAT), and Cyber Security Services (penetration testing, vulnerability assessment). The firm operates as a member of HLB International network and does not offer a unified software product platform.

Differentiator

Problem solved

Functional benefit

Products and services

• Audit & Assurance Audit and assurance services including financial statements audit, internal audit, risk assurance, and audit quality consultation based on HLB International Audit Manual methodology. For clients ranging from small owner-managed businesses to large multinational groups and listed companies.
• Advisory Business consulting services including transaction advisory, insolvency and recovery, marketing advisory, management consulting, wealth management, technology and digital services, and labour law and HR consulting for businesses seeking growth, restructuring, or transaction support.
• Corporate & Compliance Regulatory and risk services including global accounting, payroll administration, corporate secretarial support, and fund administration for cross-border businesses expanding internationally.
• Taxation Tax advisory services covering corporate tax, personal tax, international tax planning and structuring, transfer pricing, and VAT and indirect tax services for local and multinational clients.
• Cyber Security Services Cybersecurity assessment and protection services including penetration testing and vulnerability assessment for clients' IT systems, delivered in partnership with Digital Investigations S.M. Ltd.
• Transaction Advisory Services M&A advisory service including capital raising, company flotations, mergers and acquisitions support, investigations, and due diligence services for companies and investors.
• Insolvency and Recovery Corporate and individual insolvency services including acting as administrator, receiver or liquidator, pre-insolvency investigations, debt reconstruction, and business disposal and acquisition advice.
• Transfer Pricing International transfer pricing advisory helping multinational companies with documentation, Advance Pricing Agreement (APA) applications, and defense against transfer pricing audits.
• Global Accounting and Compliance Cross-border business support services including payroll, accounting compliance and reporting, legal, tax compliance, and administrative services for companies expanding internationally.
• Payroll Services Full-service payroll administration and outsourcing for small and medium-sized companies including payroll processing and compliance.

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• HLB InternationalcoreStrategic or Co-development PartnerHLB Cyprus is a member firm of HLB International, a global network of independent advisory and accounting firms present in 150+ countries. HLB International provides a platform for innovation, collaboration, and cross-border client service. Member firms combine local expertise with global capabilities. HLB Cyprus leverages this membership to serve clients expanding nationally, regionally, and globally, ensuring consistent high-quality client experience. Polyvios A. Polyviou serves as IFRS Leader of HLB International globally and has been a member of the HLB International Board of Directors since 2021.

Scale indicators4 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Grant Thornton Cyprus: International mid-tier firm offering audit, tax and advisory services to Cyprus-based SMEs and mid-market multinational clients, competing with HLB Cyprus on service breadth and access to international network resources.
• BDO Cyprus: Global mid-tier firm (BDO International network) with comparable positioning to HLB Cyprus in terms of size, service line breadth (audit, tax, advisory) and target mid-market segment in Cyprus.
• Deloitte Cyprus: Big 4 firm providing audit, tax, consulting, financial advisory and restructuring services across the Cyprus market, with senior practitioners (some previously at Deloitte) overlapping with HLB Cyprus's partner bench and target clients.
• PwC Cyprus: Big 4 firm offering the same core services — audit & assurance, tax (international tax, transfer pricing), advisory, transaction services — to Cypriot multinational and listed-company clients; HLB Cyprus competes directly for these mandates.
• EY Cyprus: Big 4 firm offering audit & assurance, tax (international tax and transfer pricing), transaction advisory and consulting services to Cypriot and multinational clients — competing with HLB Cyprus on cross-border and listed-company mandates.
• KPMG Cyprus: Big 4 firm with established presence in Cyprus offering audit, tax, and advisory services including licensing and regulatory support for investment and financial services clients — directly competing with HLB Cyprus's regulated client work.
• RSM Cyprus: International mid-tier firm (RSM network) delivering audit, tax, consulting and deal advisory services in Cyprus, targeting similar mid-market and cross-border clients as HLB Cyprus.
• Mazars Cyprus: International mid-tier firm providing audit, tax, advisory and outsourcing services in Cyprus, with comparable cross-border capabilities for clients using Cyprus as a corporate domicile.

Regional players

• HLB Malta: Fellow HLB International member firm serving Malta — comparable in service line breadth (audit, tax, advisory, corporate services) and serving similar international structuring clients, but geographically distinct from HLB Cyprus.
• HLB Greece: Fellow HLB International member firm in Greece delivering comparable audit, tax, advisory and international structuring services to clients operating in the Eastern Mediterranean — uses the same HLB global network and methodologies as HLB Cyprus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/hlb-cyprus

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about HLB Cyprus