FAQ

FinHub provides binding quotations for professional services to its users. Our service providers offer services such as: accounting, audit, tax, legal, migration and licensing services. Once our users submit their enquiry they will receive a binding quotation in their inbox. They can select or ignore service providers offers. This service is entirely free for the users.

Users select the service they need a quotation for, based on their budget, deadline for the quotation and the service providers characteristics. The enquiry is send directly via FinHub. FinHub matches the enquiry characteristics and pushes it to the appropriate service providers who in turn will send a quotation to the user. The user can access the quotation on online or via their email and can communicate with the service provider accordingly. It is absolutely free for the user whilst the service providers pay an annual fee to FinHub.

Yes. Businesses, companies and individuals in need of legal, accounting and professional services can use FinHub for free. FinHub gets paid annually from the licensed service providers it uses. In other words, legal, accounting and immigration firms are finhub's clients not the users of the platform.

No. Service providers enter into an annual contract with Finhub at a standardised annual rate. More information refer to Fees tab at the top of the page.

FinHub is extremely fast! It takes less than 2 minutes to send your enquiry and you will receive quotations in your inbox within the specified deadline.

Anyone who meets the below criteria can join Finhub online and obtain access to a huge database of potential clients. Finhub ensures that there are sufficient service providers per city who meet the below criteria: Regulated Companies: - Members of local ICPAC (Institute of Certified Practicing Accountants in Cyprus) - Members of the Cyprus Bar Association. - CySEC (Cyprus Securities and Exchange Commission members) - These regulated entities never had any issues with the local regulators - Their practice has been in business for more than 5 years. - They meet FinHub’s quality conditions

All our service providers are regulated entities under the Cyprus ICPAC, Bar Association and CySEC. All Cyprus regulators mentioned above review their members work via physical visits (monitoring visits) and ensure compliance with local and international standards. In addition, all our service providers are also members of the international accounting, auditing and law associations (professional bodies) such as the ICAEW, ACCA, Bar Association and CySEC which are extremely difficult to become members. In addition to the above we as FinHub also validate our network on an annual basis via our internal quality control procedures and off course reads the users comments and ratings which enable our team to terminate service providers with low quality services. It is important to note that low quality services offered to our users are really rare as the service providers do the utmost possible to have very good relationships with our team members as we secure them continuous flow of prospect clients.

To mimic the market online. Too much time, effort and energy is wasted by the service providers (auditors, accountants and tax experts) sending quotations to users who never reply or find the service offering expensive and never proceed with the engagements. Finhub comes along to eliminate these issues. The user specifies their budget and profile of the service provider so that there are no surprises involved. The service providers only receives enquiries of interest and within their preferred service offering fee range hence they are not wasting their time The service provider will be communicated by the user only if there is real interest since the pricing and validation are out of the way The user can literally find service providers or change their existing ones within 2 minutes.

Although all service providers are validated and also controlled by FinHub’s quality procedures in the unlikely event services performed are not up to the standards the user should: A) Leave a comment and appropriate rating B) Inform us of the event to make an internal investigation Since FinHub does not take any responsibility for the process after the matching as per our terms and conditions, it is your responsibility to request for a refund or for the service to be performed again. As far as FinHub is concerned, rest assured that the service provider will be removed and banned from our platform with immediate effect once our investigation results are concluded.

FinHub receives sensitive financial information such as trial balances, detailed ledgers and financial statements which must be protected and securely stored electronically. FinHub secures your documents as follows: A) encrypted and stores in 2 different locations via azure cloud which is the most sophisticated and secure network offered by Microsoft B) fully compliant with GDPR rules C) management of finhub are members of the ICAEW and ACCA and take the upmost due care and skill when it comes to the usage of your date D) finhub’s service providers are all members og ICAEW and ACCA, the most prestigious international accounting bodies which can cost their membership if sensitive information and clients data are misused.

User 1. Selects service 2. Selects budget, deadline for quotation --> 3 Selects size and profile of service provider --> 4 Enters details for communication --> Receives Offers via platfrom Service Provider 1. Receives request on finhub and via email 2. Gives an offer --> 3. Waits for the user to accept offer

If you have received a poor service from a finhub service provider or if the service provider is not responsive or if you feel that the service provider is causing damage to the finhub brand then please: Send us an email at: support@fihub.com.cy explaining the situation. Title the email as COMPLAINT Ensure you leave the appropriate rating to the service provider and comments Rest Assure: We will investigate what has happened. We will remove the service provider form our network and platform. We will guide you on how to file a formal complaint, to the regulator, if necessary.

Finhub uses the latest technologies to ensure your data are secure from online and offline breaches either from raw data or backups. This is achieved with the most advanced encryption processes and algorithms making as secure as possible. Technical Characteristics Transparent Data Encryption (Encryption-at-rest) Transparent Data Encryption (TDE) for SQL Database, SQL Managed Instance, AES encryption algorithm Built-in server certificates

Yes. Within our pool of licensed, audit and assurance firms we also have Big 4 and Big 10 firms which will be in a position to send you their quotation once you send your enquiry. If you only want to be served by a big 4 firm at the service providers characteristics, select >100 number of employees. FinHub will ensure that your services are received only by audit and assurance firms with more than 100 employees which are only the big 4 firms in Cyprus.

Not really, though we allow you to request for services few times. Finhub was designed to allow businesses in need for audit, accounting, tax and advisory services to find the right service providers and not for businesses to check if their existing service providers charge then more than they should. This is because we do not want to waste the service providers time, which are Finhubs clients. However, we do allow few unsuccessful attempts as this will promote our service providers and you never know you may be surprised and indeed switch your existing service providers.

Offcourse once you receive their offer. Finhub is designed in a manner that you ONLY receive relevant offers from the service providers. Therefore, once you validate that the offer is within your budget and the service provider within the desired size, expertise etc. you can take the conversation on the platform or off the platform until you sign the engagement letter with them.

The engagement letter or agreement for services is the agreement you will sign with the service provider for the services offered. It will explain the scope of work of the service provider and each other's responsibilities during the conduct of the services. It will also include the fees and must be signed by both the Business (director or self-employed person) and the service provider. All our service providers are bounded to provide you with an engagement letter before they commence work.

The engagement letter send by our licensed service providers are reviewed by the local regulator (Cyprus ICPAC /Cyprus Bar Association) who conducts an onsite monitoring visit and examines the quality of services offer by its members, their procedures and compliance with local regulators. The regulator specifically requests and reviews all the engagement letters from its members to ensure compliance with its guidelines and to identify any clauses that need to be remove (could be unfair, wrong, unethical).

Only authorised persons who can represent their company can request services from Finhub. This is a strict requirement and must be signaled at the end of the application by ticking the relevant box. These persons can be: The directors of the company The shareholders of the company Any employee of the company with a valid authorisation letter by the management The sole trader

It is entirely up to you. Once you receive their offers you can decide with who you would like to co-operate with based on your needs. Feel free to visit their premises, call them or e-mail them as much as necessary to make a decision.

To provide our service providers with as much information necessary so us to fully understand your business, the workload involved so as to provide you with an accurate quotation. Finhub simply mirrors the traditional route where all those questions would have to be answered via email. In addition, all documentation requested via our platform would also be requested via email as it is necessary for all service providers.

There are three scenarios that can go wrong when selecting a professional audit and assurance firm or a tax consultant for services rendered: A) Increased fees despite the proposal and initial engagement letter In the unlikely event that one of our service providers change their fee offering we must be conducted straight away as we must investigate the reasoning. It could be the case that the business has not disclosed sufficient information to the service providers or omitted deliberately to add comments so as to enable the service provider to fully understand the workload involved with the service. On the other hand, it could be the case that the needs of the business have changed or increased, something natural but something outside the initial scope of the service offering. In this scenario, naturally the service providers will increase their fees or propose new ones for the new services. B) Poor Services Offered In the unlikely event that the service providers perform poor services we must immediately be informed as we will investigate and remove them from our platform accordingly. If you feel that you have suffered damages as a result, please consult with a local lawyer. Also ensure that you leave the appropriate comment on the platform and that you describe the exact facts. C) Services not Performed in a Timely Manner In the unlikely event that the service provider does not deliver the work on time or does not commence work we must be immediately be informed so as to investigate the matter further. Feel free to include your comments in our scoring system which will penalise the service provider.

If you are lazy to answer only a handful of questions and to provide vital information for service providers to understand your business and the complexity of work involved, then maybe Finhub is not for you. This is because we only ask our service providers to send us quotations for enquiries that will materialise. We remind the users of our platform that we use the absolutely minimum amount of information needed to enable a 3rd party who has never heard about your business provide you with a binding quotation for services. Anything less than that would render the platform of no use to both you the business owner and the service provider as the fee offering would never be realistic or accepted by any party.

Free B2B Quotations Let our qualified service providers offer you the best binding quotations in your inbox for free, satisfying both your criteria and budget at the same time. Fast B2B Quotations We know the value of time in businesses that’s why it usually takes less than 90 seconds to post the service you need. Quotations from qualified professionals will arrive in your inbox at your stated timeframe. Smart Accountancy Smart accountancy carries out functions electronically saving you time and money. No need to visit accountants’ premises, talk to them over the telephone or carry your books and records. Everything is done electronically. Safe & Protected Performance Our service providers are monitored by their professional bodies, only qualified accountants can register in our platform. Our scoring system ensures quality of service is rewarded. Relevant, Reasonable Quotations You will only receive relevant quotations within your pre-specified criteria and budget. Instant Start-up As soon as you award the job, the offer provided to you becomes binding. This helps you save time and money. User Friendly Service Simply set your budget, select the service you need, the service provider characteristics, and submit your enquiry. Offers will arrive in your inbox and you can decide with whom to engage. It is that simple.

Mature Your Business We place you in the marketplace of thousands of business owners in need for your services. All you have to do, is send your fee proposal to your preferred audience. Designed by Accountants for Accountants We have designed everything from the angle of being an accountant in the current marketplace. The system is designed in such a way, providing a stop to spamming and telephone calls saving time and money. Fast, Smart, Effortless Our automated service provides you with the fastest and effortless route to seek clients. You will receive emails in stated time for prospective services within your fee range. Expand your Clientele Reach your full potential, entering into new markets, smartly and effortlessly. No Spamming Full inbox with irrelevant emails can be a strain for any business. We realise the value of your time that’s why you only receive few emails from real perspective clients, according to your criteria and fee range. Electronic Accountancy Our smart design allows you to do everything electronically without the hassle of telephone calls and physical meetings with prospective clients. Everything is done electronically. Free Marketing We know the importance of branding that’s why we include your practice details in all our marketing channels and social media, strengthening your brand name and bringing you close to prospective clients. Simple Payment Method We provide a free giveaway of 2 year's subscription followed by an annual subscription fee irrespective of jobs awarded. We have kept everything simple to save you time and money.

Yes, finding a service provider through FinHub is completely free. We facilitate the entire process until you receive binding quotations in your inbox, for free. Once you accept any offer then depending on the engagement agreement with the service provider you will pay them for their services accordingly. We do not receive anything from the users.

Service providers pay an annual subscription to be included in our extensive pool of service providers. We also receive some funds from advertising.

We find an accountants, auditors, lawyers, immigration and licensing experts for you based on your registration requirements; budget, location, profile and expertise. When we find a match for you, we will send you an email with their binding offer. The offers will also be listed in your FinHub portal which is accessible by logging in your account. Since you must specify a deadline to receive all offers we advice you to review all of the offers received via your portal after the offer quotation date as they will be displayed for you in an organised and neat matter.

You are under no obligation to accept the offers received by our service providers. However, since we validate all our service providers, we strongly advice to speak to them, meet them and then make your decision.