Variety of Cyprus Corporate Services Offered By Cyprus Law Firms
One of the reasons Cyprus is considered by many investors is because of its efficient legal and banking system. The government and its people understands that being one of the few countries offering the lowest corporate tax in the world makes it a perfect tax haven for any corporate account. However, if you wish to take advantage of these benefits then the first thing you need to have by your side is a licensed and accredited Cyprus Law Firm.
List of Corporate Services
Below is a list of the most typical corporate services you will find offered by Cyprus Law Firms.
Cyprus Tax Planning
Known as a tax haven for investors, you could only reap these advantages if you seek assistance from expert lawyers and accountants coming from reputable Cyprus Law Firms. These professionals will help prepare your annual tax reports and reorganization so you can take advantage of the tax exemptions offered to various trusts, organizations, and corporations registered in the country. Other tax preparation services they provide include:
- VAT Tax
- Double Tax Treatise
- Cyprus Income Tax
- Special Defense Contribution Tax
- Immovable Property Tax
- Immovable Property Transfer Tax
Management and Administration
You hands may be full with the obligations you face with your other global branches. You may wish to have a partner that will oversee invoicing, handling, placing receiving of orders and amending of goods, transferring and opening of L/C’s, payroll. Cyprus Law Firms include these in their services for you to have ease of mind with your management responsibilities.
Accounting and Auditing
Cypriot Law Firms are commonly comprised of CPA lawyers equipped with accounting and auditing skills. They are given license to draft contracts and justify financial reports of registered companies in Cyprus. Inform them of the needed accounting or auditing service like bookkeeping, reporting of VAT, VIES, INTRASTAT, and Annual Tax Return, as well as financial statements.
Since you would most likely require assistance with your bank records, Cyprus Law Firms also offer variety of banking facilities aimed to provide you more convenience and advantage. You will find them offering assistance with opening a bank account through the best Cypriot banks. It also involves preparations of Letter of Credits and other services you may wish necessary for the growth and expansion of your Cypriot business.
Shipping and Ship Management
Due to the strategic geographical location of the place, Cyprus has become an ideal harbor for shipping industry. It is therefore necessary for investors and businesspersons to look for a corporate partner that will handle the registration of their vessels, registration of the shipping company, the crew’s payroll, and ship management. All of these elements are essential, unless you have enough work forces to cover these areas for your Cyprus branch.
All corporate accounts and business registrations are required to indicate a physical office address before their request can be approved. This would entail additional fees and expenses on the part of investors. Fortunately, you will find a few Cyprus Law Firms that consider Virtual Offices as possible avenue to conduct daily business transactions through your employees and clients all over the globe.
If interested, the company will be given IT management and assistance, personalized telephone line, professional receptionists, separate fax line, mail acceptance and forwarding, legally recognized business address, and fully furnished and equipped office.