Citizenrelocations

COMPANY ADMINISTRATIVE SERVICES

BANKING AND FINANCE

The fact that the regulations in the financial sector are becoming more and more complex and are not easy to comply with doesn’t need any more vivid evidence nowadays. Companies are obliged to conform to increasingly stringent rules both on national and international levels. In these conditions it is important to be sure that your business purposes comply with all requirements imposed by the applicable legislation and that their fulfilment will not accrue any undesirable risks.

The effective laws on financial supervision and the implementation of the European directive “Markets in Financial Instruments Directive” (MiFID) into the Cyprus and Greek legislation do have a major impact in the financial sector. We offer you quality support on various issues in this complicated field ensuring a successful completion of your projects.

Our firm has developed a strong practice in banking and finance and has handled a significant number of high-value and profile transactions on asset-backed deals and refinancing, particularly on inward investment to Russia, Ukraine and Eastern Europe, Greece and the Balkan countries.

We act on behalf of both lenders and borrowers. Our clients include local and international world-leading commercial and investment banks, international finance organizations, investment funds, government institutions and other finance providers in the global banking and finance arena, as well as many corporates.

The firm’s team provides a broad range of legal services on the entire spectrum of banking instruments and financial products as well as capital markets and derivatives

Our expertise in this complicated field includes:

  • reviewing and/or drafting, negotiating of loan agreements and security documentation
  • advice on creation and perfection of different types of collateral
  • advice on corporate and tax matters, stamp duty and proper execution of documents
  • syndicated and bilateral lending
  • acquisition and project finance
  • refinancing and real estate financing
  • finance leasing, indemnities and guarantees
  • debt capital markets
  • debt restructuring
  • securities and securities law compliance
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CROSS – BORDER TRANSACTIONS

The firm has extensive experience in cross border transactions going through Cyprus, involving entities which in most of the cases are part of wider tax planning, corporate consolidation or secured financing structures. We are here for our clients in order to ensure that risks are minimized and returns maximized.

Our services involve:

  • review and/or drafting of the various agreements and ancillary documentation,
  • advice on a wide spectrum of issues including tax, securities, corporate and other concerns
  • drafting and/or review of joint venture agreements
  • due diligence
  • reviewing and/or setting up of corporate structures and all related matters
  • developing alternative deal structures that maximize long-term returns
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MERGERS & ACQUISITIONS IN CYPRUS AND OFFSHORE

We have participated in a significant number of merger & acquisition transactions in Cyprus and abroad. Our expertise in this area includes:

  • structuring and control of mergers, acquisitions and joint ventures
  • M&A finance
  • drafting and negotiating joint venture agreement, subscription and shareholders agreements
  • share and asset management
  • leveraged and management buyouts
  • general legal advice on corporate, regulatory, securities, competition, labour matters and enforcement matters
  • legal, financial and tax due diligence.
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ACCOUNTING AND AUDIT

Our office operates a complete accountancy department with qualified and experienced accountancy personnel. All Cyprus companies, according to Cyprus Company and tax Laws must keep proper accountancy books and records, file annually tax returns and prepare audited financial statement.

The accounting services our office provides include:

  •  book-keeping
  •  registration to the Income Tax and VAT Departments
  •  Registration to the VIES and INTRASTAT
  •  preparation and submission of monthly, quarterly annual tax and VAT returns
  •  communication with the tax office and statistical office or National Bank of Cyprus
  •  management reporting
  •  preparation of management financial statements
  •  payroll services
  •  HR and social security services
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REGISTRATION AND MAINTENANCE OF A CYPRUS COMPANY

  • Incorporation – together with everything the process implies
  • Corporate Secretarial Services – maintenance of share registers, assistance with setting up business entities, basic management and shareholder resolutions, amendments to Court register (KRS) data, holding of AGM’s, submission of financial statements and related year end procedures;
  • Fiduciary and Domiciliary Services – directorships, supervisory board appointments, nominee shareholding, trust services, provision of registered address and substance offices;
  • Shelf Companies – provision of operational, newly-established, limited liability companies, including tax registration, statistical office registration and operational bank accounts;
  • Accounting and Payroll Services – maintenance of accounting records, preparation and submission of monthly and annual tax returns, communication with the tax office, statistical office or National Bank of Cyprus, personalised monthly management reporting, preparation of financial statements under IFRS, complete payroll, HR and social security services;
  • Liquidation Services – full accounting and corporate secretarial support in opening of the liquidation process, notification to the Court and public, maintenance of accounting records, preparation of the financial statements, and closing procedures
  • Virtual Office Services – designated telephone lines, fax numbers, mail forwarding, internet and email
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REQUIREMENTS FOR ESTABLISHING A COMPANY

Starting from 1st October 2004, the Council of Ministers has approved the complete freedom of the policy governing direct investments from non-residents in Cyprus.

As a consequence the approval from Central Bank of Cyprus is no longer required for non-residents who wish to establish a Company in Cyprus, or acquire shares in existing Cyprus companies, or otherwise to invest in or from Cyprus. Thus, the applications should now be addressed directly to the Department of Registrar of Companies and Official Receiver.

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