Reporting and auditing of foreign companies with guaranteed timely filing
- 15+ countries
- from 2 business days
- free 30-minute consultation
- 15+ countries
- from 2 business days
- free 30-minute consultation
We prepare and file annual reports for your company in 9+ jurisdictions. We work with Estonia, Poland, Cyprus, the United Kingdom, Georgia, Latvia, Romania, Hong Kong and other jurisdictions.
You focus on your business while we handle document preparation and all communication with registrars, accountants and auditors. We complete reporting on time, without risks or unnecessary questions.
We prepare and file annual reports for your company in 9+ jurisdictions. We work with Estonia, Poland, Cyprus, the United Kingdom, Georgia, Latvia, Romania, Hong Kong and other jurisdictions.
You focus on your business while we handle document preparation and all communication with registrars, accountants and auditors. We complete reporting on time, without risks or unnecessary questions.
Who the reporting and audit service for foreign companies is for
- This service is for you if:
You have opened a company abroad and do not know which reports to file or when.
You have missed a deadline and are concerned about a fine or removal from the register.
You have companies in several jurisdictions and want one coordinator instead of five conversations in three languages.
- This service is not for you if:
You need a formal opinion without a detailed document review, information collection or an assessment of the company’s actual position.
You need short-term solutions to reduce the tax burden without considering the long-term risks for the company.
What are reporting and audit services for a foreign company?
Reporting
Audit
What is included in the service “Foreign Company Reporting and Audit”
- We prepare and file reports with the relevant authorities in the company's country of registration, taking all local requirements into account.
- We prepare financial statements (balance sheet and P&L) under IFRS, local GAAP or in a simplified format as required by the country.
- We coordinate audits for companies subject to audit requirements. We work with licensed audit firms in each country and provide full support throughout the process.
- We prepare and file a tax return where it is a separate document with its own deadlines.
- We prepare and file CFC reports in Ukraine for residents who own foreign companies. We reconcile indicators across jurisdictions, ensuring full compliance and a transparent financial picture.
- A qualified lawyer oversees the process, ensures its integrity and compliance, and protects your interests at every stage.
4 steps from the first call to a filed report
Situation review
You gain complete clarity on your reporting obligations after the first call. You understand which countries create obligations, what has already been filed, where risks exist and which deadlines are approaching. The result is a clear action plan for the next year, without surprises or chaos.
Document collection
You receive a precise document list without unnecessary requests or duplication. If you already have an accountant in another country, we coordinate all processes so that you do not spend time managing them.
Report preparation
Your reports are prepared in accordance with the requirements of the relevant country and checked twice before filing. You receive the final document for approval and retain full control of the result without becoming immersed in the details.
Report filing
The report is filed officially in electronic form. You receive confirmation and can be confident that everything has been completed correctly. The documents are retained so that you can confirm your reporting at any time during a review.
How much does support cost reporting and audit
- Quick response
- No obligation
- Confidential
- Quick response
- No obligation
- Confidential
The cost depends on the company’s jurisdiction, transaction volume, the need for an audit and the complexity of the business structure. The fee is determined individually for each company.
The fee may include report preparation and filing, communication with accountants and auditors, deadline monitoring and legal support.
An audit, CFC reporting, restoring a company after penalties or urgent document filing may be agreed separately.
Everything you need to prepare reports without unnecessary requests
Common myths and facts about foreign company reporting
Common assumptions:
“If there was no activity, no report needs to be filed.”
“I can simply download a template and file it myself.”
“Only large companies need an audit.”
“CFC rules apply only in Ukraine and have nothing to do with the foreign company.”
The reality:
In most jurisdictions, the reporting obligation arises from the company's very existence in the register, regardless of turnover. Ignoring reporting may result in fines and removal from the register.
An incorrectly filed report means penalties or the company losing its good standing. Correcting a report that has already been filed costs more than preparing it correctly the first time.
In many jurisdictions, an audit may be mandatory even for small companies, particularly if they raise investment, use bank loans or have foreign founders. For example, in Cyprus and Hong Kong, an audit is mandatory for all registered companies.
CFC rules concern not the foreign company but its owner who is a Ukrainian resident. If you are a Ukrainian resident and control more than 50%, or in certain cases more than 10%, of a company abroad, you must file a CFC report with the Ukrainian tax authorities, regardless of where the company is registered.
“If there was no activity, no report needs to be filed.”
In most jurisdictions, the reporting obligation arises from the company's very existence in the register, regardless of turnover. Ignoring reporting may result in fines and removal from the register.
“I can simply download a template and file it myself.”
An incorrectly filed report means penalties or the company losing its good standing. Correcting a report that has already been filed costs more than preparing it correctly the first time.
“Only large companies need an audit.”
In many jurisdictions, an audit may be mandatory even for small companies, particularly if they raise investment, use bank loans or have foreign founders. For example, in Cyprus and Hong Kong, an audit is mandatory for all registered companies.
“CFC rules apply only in Ukraine and have nothing to do with the foreign company.”
CFC rules concern not the foreign company but its owner who is a Ukrainian resident. If you are a Ukrainian resident and control more than 50%, or in certain cases more than 10%, of a company abroad, you must file a CFC report with the Ukrainian tax authorities, regardless of where the company is registered.
- CASE STUDY
VAT registration and CFC reporting for a company in Estonia
- Estonia
- VAT
- CFC
The owner of a PVC structures manufacturing company contacted KRYNO after forming a company in Estonia. The client needed to obtain a VAT number, establish regular financial reporting and prepare CFC reporting in Ukraine for a resident controlling the foreign company.
E-Residency and VAT registration. Support with obtaining e-Residency, preparing documents and obtaining a VAT number for work with EU counterparties.
Financial reporting in Estonia. Setting up monthly VAT reporting, a remote power of attorney for the accountant and filing the company's first annual report.
CFC reporting in Ukraine. Analysis of the company structure, review of the financial statements and preparation of the CFC report together with the property and income declaration.
- E-Residency and VAT number obtained without delays
- Remote VAT reporting established for an EU company
- Annual report in Estonia filed on time
- CFC reporting in Ukraine completed in full
- FAQ
Frequently asked questions about reporting and audit foreign companies is for
Fines, interest and, in the worst case, compulsory removal of the company from the register. Each jurisdiction has its own consequences, for example:
- Estonia — a fine of €200–3,200 and possible blocking of e-Residency;
- Cyprus — monthly penalties and a risk of strike-off (removal from the register);
- Poland — from PLN 467 to PLN 93,320 and the director's personal liability
- Hong Kong — a fine from HK$105 and the director's personal liability
- Ukraine (CFC) — from 100 subsistence minimums (approximately UAH 320,000)
If the deadline has already passed, this is not a reason to avoid filing altogether. A late report is always better than no report.
The absence of activity does not exempt a company from reporting. This common mistake can be costly. In most jurisdictions, even if a company has not carried out any activities, it must file the required reports and confirm its current status to public authorities.
Certain exceptions do exist: in some countries, a simplified report or a declaration of no activity can be filed instead of a full report. However, this option is generally available only if it has been properly arranged in time.
Contact us and we will check the requirements in your jurisdiction and recommend the best course of action.
Every case is different and requires an individual review. A standard report is prepared in 7 business days or more.
You can. However, online portals differ significantly between countries in interface and requirements, forms are often available only in the language of the country of registration, and any error may result in rejection or penalties. Most clients delegate the work to us because our fee is lower than the risk of an error.
Yes, if you are a Ukrainian resident and control a foreign company or, in certain cases, hold an interest of 10% or more. You must file a CFC notification within 60 days of acquiring the interest and file an annual CFC report together with a property and income declaration with the State Tax Service of Ukraine. These requirements are established by Ukrainian tax law and apply regardless of where the company is registered or which reports you file there.
Reporting — is a set of financial documents that a company must file with registration or tax authorities by the statutory deadline. An audit — is an independent review of the financial statements conducted by a licensed auditor and resulting in a formal opinion.
In practice, these two processes often go together: in many jurisdictions, including Cyprus, an auditor's opinion is a mandatory part of the annual report.
Both options are available. We can provide one-off preparation and filing of a specific report or take the company on for full legal support. We monitor deadlines, interact with registers and help avoid fines and unnecessary business risks.
Each company reports under the rules of its own jurisdiction, with its own deadlines, forms and penalties. Under Ukrainian law, each is a separate CFC reporting object: a separate report and a separate notification. The more structures there are, the more risk points arise. In such cases, it is especially important to have a single coordinator overseeing all obligations.
Do not lose money because of missed deadlines
We help restore the company to the register, simplify the process and take the headache away from the business owner.
Most fines are not caused by forgetfulness. At the last moment, it turns out that a document is missing or the registrar is not responding, while time is already running out.
In 30 minutes, we will review your situation, identify the exact deadline, explain what still needs to be prepared and whether there is enough time. Free of charge and without empty promises.
We help restore the company to the register, simplify the process and take the headache away from the business owner.
