Corporate
Services We Provide
Our firm can offer you advice about the structure most suited to your needs. This depends on type of business you want to perform and the geographical area where those services will be provided. Our formation service is rapid and efficient.
Our services can include a full secretarial, accounting and management service ensuring the maintenance of a company in good standing in the country of incorporation, keeping the books of account and full statutory records. Where we provide directors for a company, we shall conduct the entire business of the company liaising, of course with the company's owners where appropriate.
Register a company
Working with a registered company may be more official and streamlined, but there are several regulatory requirements that must be fulfilled. The following article is an overview of the four fundamental points to ponder before registering your business.
- choosing the right type of entity based on thorough research and a business plan;
- the preparation of all the documents needed to register the company;
- drafting and notarizing the company’s Memorandum and Articles of Association;
- appointing the company directors and secretary for which certain conditions must be respected;
- opening a corporate bank account where the share capital will be deposited;
- choosing a legal address for the future business (a virtual office can also be used during the first phase of company)
- Book keeping & Reporting
- Bank account opening / management
- Tax planning & Corporate structures
- Bank Account Opening Services
- Accounting, Tax Work and Audit
- Company Secretarial Services
- Company Incorporation
- Tax Advisory Services
Important criteria for choosing a jurisdiction
The choice of a suitable jurisdiction is an important decision and requires careful considerations. The most important aspects to be examined may be outlined as follows:
- Political and economic stability of the jurisdiction
- The availability of a modern and flexible legislative framework
- Simple incorporation and filing requirements
- The availability of Double Taxation Treaties - this is very important in order to minimize withholding taxes on the payment of dividends and royalties from contracting states
- The availability of good calibre professional advisers
- A good banking system
- Good telecommunications
- Reputation (some "tax havens" are viewed with suspicion).
Why set-up a Cyprus Company?
Registering a company in Cyprus is relatively easy and faster than in many European countries. Cyprus Company registration itself begins with application for registering a company, to be submitted to the Registrar of Companies. Cyprus offers one of the world's most globally oriented and business friendly environments for establishing corporate structures within the European Union.
More specifically the owner of an international enterprise is expected to enjoy the following advantages through the operation of his company:
- Significant tax savings (low or zero taxation)
- A greater degree of privacy and confidentiality
- Reduced operating costs
- The availability of Double Taxation Treaties - this is very important in order to minimize withholding taxes on the payment of dividends and royalties from contracting states
- Protection of personal wealth
- Less bureaucracy
Over the past 10 years Cyprus has moved from being an offshore to an onshore jurisdiction. Accession to the European Union obliged Cyprus to reform its tax system and bring it into line with the EU requirements and the OECD initiative against harmful tax practices. Cyprus is no longer considered a tax haven. It is actively involved with the OECD and part of its “white list”.
Cyprus has concluded double tax treaties which apply to around 45 countries. The existence of these treaties, combined with the low tax paid by a Cyprus company offer the possibilities for effective international tax planning. The main purpose of these treaties is the avoidance of double taxation on income earned in any of these countries. Under these agreements, a credit is usually allowed against the tax levied by the country in which the taxpayer resides for taxes levied in the other treaty country and as a result the tax payer pays no more than the higher of the two rates. Further, some treaties provide for tax sparing credits whereby the tax credit allowed is not only with respect to tax actually paid in the other treaty country but also from tax which would have been otherwise payable had it not been for incentive measures in that other country which result in exemption or reduction of tax.
Despite being among the world´s smallest countries, Cyprus is one of the most significant business and financial centres.
Frequently Asked Questions
Yes, our firm can provide you the most suited to your needs assistance. This depends on type of business you want to perform and the geographical area where those services will be provided. Our formation service is rapid and efficient.
In particular we can assist you in:
- The preparation and the ongoing administration of the application for obtaining the necessary licence
- The design and implementation of an appropriate corporate and organisational structure
- The preparation of the business plan, internal operations manual and due diligence manual
- The preparation of the internal regulation placing emphasis on the appropriate control mechanisms that should be in place
- The outsourcing or assistance with selected non-core functions of the company (accounting and internal audit functions)
- Bank account opening
- Office set up
- Staff placement
Yes our tax planning experts will develop the most efficient tax plan for your company.
Osys global is ready to help you with all the legalization matters for your documentation. We have professional lawyers who deal with various agreement types and monitor legislation in different countries and jurisdictions. They will provide you with qualified consultation and carry out any legal support you need.
Of course, Osys global will assist you in the opening of a corporate bank account.
Most of the international banks we cooperate with do not require a personal visit and can accept a teleconference meeting. Otherwise we will arrange a meeting at the time you visit our office for other corporate matters.
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