The firm was first established in 1987 as Demetriades & Shakos, by Ioannis Demetriades and Vassos Shakos.
Vassos Shakos is a Fellow of The Chartered Association of Certified Accountants and a Fellow of the British Institute of Management. He also studied and was articled in the UK. Vassos withdrew from the Partnership in December 1999 to take up a position as Finance Manager of one of the most successful hotels in Cyprus.
In January 1994 Andreas Pifanis joined the partnership, and the firm was renamed Demetriades Shakos Pifanis (DSP).
In 1996 DSP became a member of JHI, a worldwide association of accountants, tax and management consultants.
In October 2000 DSP opened an office in Limassol, the second largest town in Cyprus.
On 1 January 2006 DSP resigned from JHI to become a Horwath Business Alliance Associate, and on 1 September 2006 DSP became a full member of Horwath International.
Horwath DSP Limited came into being on 30 November 2006, and all the activities of the partnership were transferred to the new company on 1 January 2007.
On 2 April 2009 Horwath International became Crowe Horwath International and on the 4th of June 2018 it was renamed Crowe Global therefore the firm's name changed to Crowe Cyprus Limited.