When running a business, sooner or later you will come to a decision to hire help from corporate services. And this block presents the services where we were specifically recognised by our clients, partners and colleagues.
Year after year people endorse me as one of the best corporate lawyers even though I always did my best in any legal services I provided.
Create your own company in jurisdiction of your choice
European Company Formation, Governance And Administration
We register companies in almost all jurisdictions in Europe. New regulations and changes in domestic taxation rules elsewhere caused high demand for a European company for business structuring.
It is a correct time to give a new start for your existing business by registering a company Europe in order to gain a foothold in the EU market and to avail of numerous business opportunities available, joining high living standards also matters.
You can choose any EU county if you have your own reasons, however the most popular Top 5 jurisdictions for EU company formation are:
- The Netherlands
Please contact us for more information on each jurisdiction.
In case you still prefer to register a company in a jurisdiction outside the European economic zone, we can assist you with the correct choice of the low risk offshore jurisdiction that follow the requirements of the AML laws similar to the European.
In case you wish to start your business in USA, Canada, China, Russia or any other jurisdiction and you have your business reasons for that, we will assist you again.
Register your own brand/trademark
In European Union
European Union Trademark grants protection over the entire EU with one registration. This Trademark Registration includes protection in: Austria, Bulgaria, Belgium, Croatia, Czech Republic, Cyprus, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, The Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain and Sweden.
The trademark registration procedure can only by conducted by lawyers in Cyprus.
The application must be filed separately for each class of products or services.
Trademarks in Cyprus have seven-year validity from the initial registration and may be renewed for 14 years after the first 7 years.
We will also assist you in registration of the trademark in the country of your choice.
Ask us about the requirements by contacting us.
In Trust we trust: Trustee services
The main legal framework governing trusts in Cyprus is a combination of English common law, the Trustees Law of Cyprus and the International Trusts Law of Cyprus.
There are four types of CIT:
- Express private trusts
- Charitable Trusts
- Fixed Trusts
- Discretionary Trusts
The settlor and the beneficiaries must not be tax residents in Cyprus during the year preceding the year of creating a CIT and at least one of the trustees must be a permanent resident of Cyprus.
Succession, heirship or other laws applicable in foreign jurisdictions or court judgments or orders or arbitral awards or decisions by foreign competent authorities do not affect the validity of a CIT or the transfer of property to the trustee of a CIT. A CIT may only be challenged on defraud of creditor grounds with a two-year limitation period. The trustees of a CIT are bound by confidentiality and cannot disclose information or documents unless ordered by a Cyprus Court or required by law.
Basics of CIT taxation
Beneficiaries who are not tax resident in Cyprus are subject to tax only on income and profits sourced in Cyprus. Beneficiaries who are tax resident in Cyprus are subject to tax in Cyprus on income and gains of the trust earned from sources within and outside Cyprus.
Capital gains tax applies only regarding gains from the disposal of real estate situated in Cyprus or shares of a company holding property situated in Cyprus. No estate duty is payable by a CIT that was formed for the purposes of estate duty planning.
Cyprus trusts fall within the scope of double tax treaties provided that the other contracting state recognises trust structures and principles of equity and the trust itself meets the eligibility criteria set out in the relevant treaty.
Escrow Agent services
As professional Escrow Agent we help you successfully mitigate risks on business and financial transactions. We guarantee your deals to be closed securely.
For all parties of the escrow agreement we guarantee the due diligence and compliance performed by experienced lawyers, AML & general compliance specialists.
For a buyer, we ensure that documents are and/or funds are released according to the strict terms and conditions of the agreement between the parties.
For a seller, we ensure that the documents/titles are transferred to the buyer only if the purchase price is secured on the Escrow account and can be transferred to the seller without delay on the procedure agreed by the parties.
For an intermediary/introducer, we ensure that the commission or fee agreed by the parties is secured on the escrow account and will be transferred to him from the deposited funds in any case if the deal is closed.
Advantages of escrow
- Successful completion of big deals following the sequence of events agreed by the parties;
- Due performance of any agreement by all parties;
- Counterparty's due diligence check;
- Exception of unnecessary court actions in the event of failure of one party to perform.
Bank accounts opening and maintenance
We provide advice on banking services relevant to the client`s needs:
- Bank account openings with local and foreign banks;
- Registration of accounts in the payment systems for online payments;
- Compliance checks of the client`s due diligence and KYC before application process;
- Safe and trustworthy management and monitoring of bank accounts on behalf of the client;
- Communication to the bank.
Substance “full construction”
Cyprus as a jurisdiction is well known for its favorable tax regime with a strong transparent legal system and its compliance with the standards set up by the European Union (EU) and the Organization for Economic Cooperation and Development (OECD).
Under OECD model convention a Cyprus Company will qualify for benefiting the Double Taxation Treaties if the following criteria are met:
- The Company is a tax resident of the state it is registered in; and
- The Company is the beneficial owner of the income distribution (dividends royalties, interest).
Central Bank of Cyprus also obliged the Cypriot banks to require proof of certain substance for opening of bank accounts.
Frequently Asked Questions
Which businesses should choose Cyprus?
1. High Net Worth Individuals
With the application of the Non-Domicile Status, they can enjoy tax free worldwide dividends
2. Shipping Companies
Tonnage tax system - taxed only on the net tonnage of the qualifying ships
3. Forex & Investment Firm Industries
Trading on financial instruments is tax exempt
4. Holding Companies
Tax free dividend income
5. Business from 3rd Countries
A Cyprus company is a low cost highly professional European jurisdiction
6. Satellite Businesses
Low set up costs enable Companies to have satellite offices in Cyprus where they can attract high calibre personnel
7. HeadQuarter Relocation
Low set up costs coloured with high quality service providers and high calibre personnel makes Cyprus a jurisdiction hard to oversee when deciding for new headquarter or an overseas branch.
How long it takes to register a Cyprus company?
- It usually takes us 5-7 working days to register a Cyprus company.
- You can buy a ready made company from us, "off the shelf". "Off the shelf" companies are companies created to be sold and have no trading or other history.
- You can also buy a ready business with trading history, in which case we make a full compliance check for you.
How to achieve Substance in Cyprus
In order to avoid any implications by having lack of Substance and be threatened by higher tax rates one needs to address the main factors of achieving Substance with a Cyprus Company.
- The majority of Directors are resident in Cyprus.
- The Company maintains its own headquarters/office premises in Cyprus.
- There is a real economic Substance behind the Company in Cyprus.
- The Company has its own employees in Cyprus. These employees must be registered with social insurance and are substantially involved in the operations of the Company.
- All accounting records must be kept in Cyprus
- One of the bank accounts of the Company must be held with a Cypriot Bank Institution with a local resident as a signatory.
- Annual audit must take place by local Auditors registered with the Institute of Certified Public Accountants of Cyprus (ICPAC).
Ideally additionally to the above mentioned:
- The Directors of the Company are qualified professionals.
- The Company maintains a website with proper email address
- The Company has its own telephone, fax and internet lines.
- Employees and premises must be insured.
What a Reorganization means and what are the procedures by Inland Revenue Department (IRD)?
Reorganization is the transfer of assets and liabilities, including provisions and reserves, between companies, without generating profits subject to taxation. The main objective and purpose of the reorganization is to increase profitability and business productivity, better organization, reduce costs and expand business through synergies. The term reorganization includes Mergers, Divisions, Partial Divisions, Transfer of Assets, Exchange of Shares and Transfer of Registered Office.
The reorganizations are covered by the Income Tax Law 118(I)/2002, as amended, Articles 26 to 30 (Adopting the European Directive 90/434/EEC in 1990, and later revised amending Directive 2005/19/EC) and the IRD Circular 2008/To activate procedures for considering the I.R. 88 (2008) form.
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