In order for businesses or individuals to take full advantage of the opportunities that Cyprus offers in the area of tax planning and international trade and investments, it is necessary to establish and maintain a presence on the island. This does not have to be a physical presence and, depending on client circumstances and objectives, it usually involves one or more of the following entities: Companies, Branches, Partnerships, Trusts*. The services of a local professional firm are essential in order to ensure compliance with the fairly complex statutory requirements and to cope with the administration work associated with maintaining a Cyprus presence.

We advise our clients on legal and tax structures that reduce their tax burden and we undertake all aspects of the formation, operation and administration of the relevant entities. The core services we provide are outlined below:
 

*A trust is established by a person (the settlor) who transfers into the trust certain property (the trust property), and appoints trustees to hold and manage the property for the benefit of an individual or group of individuals (the beneficiaries). There are many reasons why people may wish to establish trusts: to protect their assets / wealth; to avoid or minimise tax liabilities; to plan the transfer of ownership of assets; to retain control of assets while transferring beneficial ownership to a third party. Cyprus is one of few jurisdictions that have modern trust legislation.

 

Around the world, taxation represents a significant expense and creates considerable administration work while tax legislation is becoming increasingly complex. A growing number of businesses and individuals seek professional help in order to minimise their tax burden and to cope with the work associated with administering their tax affairs.

We cater for both private and corporate clients. Below are some of our services:

Practically all businesses are required by law to maintain proper accounting records and to prepare annual accounts for tax and other regulatory purposes. Even more importantly, businesses need to prepare regular management accounts in order to bring vital information to the management and other stakeholders (owners, lenders) regarding the performance of the business and their interest therein.

We assist our clients to meet these challenges through a wide range of services:

• Bookkeeping (maintaining proper accounting records)
• Preparation of statutory accounts in compliance with accounting standards
• Preparation of regular or ad-hoc management accounts
• Advice on accounting systems and controls and financial reporting issues
   

Most businesses are required by law to be audited annually by a certified auditor. Increasingly, businesses regard this statutory obligation as a valuable review of their financial and management systems, which may lead to the identification of potential problem areas and risks as well as opportunities to improve business performance.

Our audit services address statutory as well as business requirements:

• Statutory audits in compliance with legislation and auditing standards
• Internal audits in compliance with regulations or client requirements
• Specialised audit assignments (e.g. required by lending institutions)

In order to remain ahead in an intensely competitive market and to identify and take full advantage of opportunities, many businesses have realised that it is often necessary and cost effective to seek external assistance in areas which require specialist skills and expertise that they do not maintain in-house.

We help businesses achieve success by providing practical solutions in areas such as:
 

Businesses and their owners are frequently faced with issues such as mergers, acquisitions, disposals, raising finance and stock exchange listings. These complex transactions absorb a lot of time and energy, usually at the expense of other important activities such as day-to-day management. Moreover, depending on how well they are planned and executed, they may result in the creation or destruction of substantial wealth. This is why many businesses turn to specialists for advice and support.

We help our clients successfully deal with a variety of transactions including:

Investors are confronted with an unprecedented choice of investment alternatives. This represents both an opportunity and a challenge, increasing the scope for creating as well as destroying wealth and making wealth management a complex affair that requires specialist guidance and support.

We can introduce our clients to a wide range of local and international products: