Cyprus Company Incorporation / Formation
Changes in the Cyprus tax system implemented as of the 1st of January 2003 meant that Cyprus was no longer an offshore jurisdiction / tax haven whilst however maintaining the lowest corporate tax rate in the European Union. The changes did not affect a number of tax advantages which would normally be found in offshore / tax haven jurisdictions and in combination with the entering of the Republic of Cyprus in the EU in May 2004, the entering in the Euro zone in 2008, the adopting of the EU's "Code of Conduct" on harmful tax practices and its placement on the Organization for Economic Cooperation and Development (OECD) meant that nowadays Cyprus companies have a significant advantage over other tax-attractive jurisdictions because of their tax optimisation possibilities and the good reputation they carry.
Indicative of this was a 2009 KPMG poll which rated Cyprus as the most attractive tax regime in Europe with net attractiveness of 90% ahead of Ireland, Switzerland and Malta.
Cyprus Law states that only Cyprus lawyers may incorporate Cyprus companies, and the long experience of local firms has evolved this into a very straightforward procedure.
Antonis Paschalides & Co LLC is able to guide and assist clients in all steps of the incorporation process, be it the incorporation of a new Cyprus company, the formation of a complex structure Cyprus company with tailor made Memorandum and Articles of Association, or even the registration of a Cyprus "shelf" company to a client if urgency requires it.
A detailed description of the procedure for incorporating a Cyprus company, as well as for acquiring a Cyprus shelf company may be found here.
Αυτή η διεύθυνση ηλεκτρονικού ταχυδρομείου προστατεύεται από τους αυτοματισμούς αποστολέων ανεπιθύμητων μηνυμάτων. Χρειάζεται να ενεργοποιήσετε τη JavaScript για να μπορέσετε να τη δείτε. for any questions on the incorporation / formation of a Cyprus company.
Cyprus Company Management and Administration
Cyprus Company Management and Administration
The tax benefits of Cyprus companies are directly related to the concept of management and control whose general principle is that a Cyprus company needs to be managed in Cyprus in order to qualify for these tax advantages. Specialised companies and individuals associated to Antonis Paschalides & Co LLC undertake the tasks of management and administration as well as providing clients with nominee services where necessary.
Under the guidance and scrutiny of the firm's lawyers and working closely with the company's accountants and auditors, it is ensured that a client's company complies with all its legal and fiscal obligations.
The firm's management companies and associated individuals operate strictly under client instructions, whilst keeping them informed of their and/or company's responsibilities and liabilities. Prompt and absolute compliance is the number one priority so as to avoid any penalties or delay related problems for the client. It is estimated that the current portfolio of projects administered by the firm's management companies amounts to around € 2.5 billion.
Αυτή η διεύθυνση ηλεκτρονικού ταχυδρομείου προστατεύεται από τους αυτοματισμούς αποστολέων ανεπιθύμητων μηνυμάτων. Χρειάζεται να ενεργοποιήσετε τη JavaScript για να μπορέσετε να τη δείτε. for any questions on the management/administration of a Cyprus company.
Mergers and Acquisitions
Cyprus maintains a vast network of double taxation treaties which in combination with the tax advantages available have given Cyprus companies an active role in international transactions, mainly related to ex-Soviet countries and Eastern Europe. Indicative of this is the fact that the small island of Cyprus was the number one investor in Russia, Ukraine and Moldavia in 2011 as well as holding top positions in other countries.
As a result, mergers and acquisitions involving Cyprus companies holding assets abroad very frequently take place in Cyprus, through internationally recognised law firms.
Antonis Paschalides & Co LLC has throughout the years handled a number of significant transactions totaling in worth billions of Euros and the firm's experience and expertise in the field is internationally acknowledged, in some cases working directly for clients and in others being engaged by some of the world's top law firms.
The firm is able to handle all aspects of a merger or an acquisition, from the preliminary legal due diligence on a company, the drafting, reviewing and amending of legal documents in respect to the merger/ acquisition (including any financing and/or financing restructuring and security documents involved), to the legal transfer of a company to a client (including required filings with and notifications to the Cyprus Authorities).
Corporate support
The lawyers of Antonis Paschalides & Co LLC have been offering legal support to corporate clients for more than three decades now on a variety of company related transactions, including but not limited to corporate reorganization and cross border restructuring, capital raising transactions and escrow agreements, as well as shareholder agreements and corporate governance matters.
Αυτή η διεύθυνση ηλεκτρονικού ταχυδρομείου προστατεύεται από τους αυτοματισμούς αποστολέων ανεπιθύμητων μηνυμάτων. Χρειάζεται να ενεργοποιήσετε τη JavaScript για να μπορέσετε να τη δείτε. for any questions on corporate matters.
Offshore companies
Cyprus is one of the few EU jurisdictions to accept transactions and invoicing from offshore companies and as such, it is very common for offshore companies to appear in tax structures together with Cyprus companies. Through a network of selected and trusted associates, Antonis Paschalides & Co LLC acts as a "one stop shop", extending outside the Cyprus jurisdiction to incorporate but also manage offshore companies for clients who request a centralised control over their tax structures.
The Bahamas, the British Virgin Islands, Hong Kong and Guernsey are just some of the jurisdictions with which Antonis Paschalides & Co LLC works closely.
Αυτή η διεύθυνση ηλεκτρονικού ταχυδρομείου προστατεύεται από τους αυτοματισμούς αποστολέων ανεπιθύμητων μηνυμάτων. Χρειάζεται να ενεργοποιήσετε τη JavaScript για να μπορέσετε να τη δείτε. for any questions on offshore companies.
Taxation
The Cyprus tax system has been the spark in the fast growing Cyprus economy over the last decades. Attractive tax schemes allow foreign corporate clients and investors to achieve tax optimisation through legal and controlled means.
The topic of Cyprus tax and its advantages is vast and a closer look into it can be found here. Where Antonis Paschalides & Co LLC differs from other local firms is that it will consider the exact characteristics of a client's existing structures and future needs to prepare a tailor made, tax optimised plan for the benefit of the client.
Αυτή η διεύθυνση ηλεκτρονικού ταχυδρομείου προστατεύεται από τους αυτοματισμούς αποστολέων ανεπιθύμητων μηνυμάτων. Χρειάζεται να ενεργοποιήσετε τη JavaScript για να μπορέσετε να τη δείτε. for any questions on Cyprus tax, tax structures and tax planning.
Labour relations
Labour relations in Cyprus are regulated by a number of statutes, the chief of which is the Termination of Employment Law (Law 24 of 1967, as amended). In addition Cyprus has ratified a number of International Conventions on the matter. The body responsible for the administration of labour relations in Cyprus is the Ministry of Labour and Social Insurance. It should be noted that the onus of proof in dismissal cases is on the employer to show that an employee was dismissed for one of the reasons specified in the statute.
Antonis Paschalides & Co LLC has experience in advising both sides; corporate clients being the employers but also individual employees taking action against their employers.
The firm mediates many aspects of the relationship between employers and employees and has been very successful in court cases involving such matters.
Αυτή η διεύθυνση ηλεκτρονικού ταχυδρομείου προστατεύεται από τους αυτοματισμούς αποστολέων ανεπιθύμητων μηνυμάτων. Χρειάζεται να ενεργοποιήσετε τη JavaScript για να μπορέσετε να τη δείτε. for any questions on labour relations.
