Support Services for Foreign Companies
Specialists of FjM International Solicitors & Lawyers have considerable practical experience in legal support of companies, incorporation of international holding companies and complex corporate international structures.
We ensure coordinated and timely administration of companies registered in different jurisdictions, reflecting the individual requirements of our clients, including:
• Registration and corporate support of foreign companies in different jurisdictions
• Registration of trusts - financial and tax planning services (advising on business tax optimization, selection of low-tax jurisdiction)
• Opening and management of bank accounts in well-known banks in Cyprus and other major European banks, including selection of the necessary bank, registration of necessary bank forms, corporate documents and certification
• Preparation and submission of annual reports to tax authorities
• Financial and tax advising and necessary support in various international business transactions (from negotiations to transaction completion).
What is necessary to take into account when choosing a jurisdiction to set up a foreign company
1. There are jurisdictions in which information on shareholders and directors of the company is confidential by virtue of the law.
2. During registration of a company in high-tax jurisdictions you can consider the possibility of obtaining additional loans
3. To consider risks of double taxation in certain jurisdictions depending on the type of transaction
4. Some jurisdictions require the provision of separate documents and permits, which may complicate registration procedures or completely render them impossible.
Our team of professional accountants provides complete financial management of the company, extensive individual accounting and tax services, including:
• Preparation and maintenance of accounting in several currencies
• Preparation of management reports (on a monthly, quarterly and annual basis)
• Preparation of cash flow statements and consolidated financial statements
• Preparation of regulated financial statements
• Advising on obtaining tax identification numbers in tax authorities of Cyprus and other jurisdictions
• Preparation of necessary documents for obtaining tax residence certificates.
Management accounting includes data on the company’s activity based on financial, production and other indicators.
The majority of companies (both Russian and foreign) are required to submit books of account (information on company’s activity for a certain period in accordance with the established form) to the tax service.
For individual entrepreneurs and small business subjects working under the simplified taxation system there is no obligation to provide such documentation.
Getting tax certificate and tax number in Cyprus
Certificates indicating the taxpayer or company code are issued by tax authorities of Cyprus on the basis of the request. Obtaining of such tax certificates is possible for companies that do not have any tax debts.
What does the development of international tax strategy consist of?
The development of international tax strategy is performed in conjunction with the overall corporate strategy of the company and includes tax consulting for international business companies (IBCs), including:
1. International tax planning
2. VAT refund and preparation for filing VAT declaration
3. Issues of transfer pricing
4. Issues of double taxation
5. Tax issues during M&A transactions
How can we help you?
Registration of companies in various world jurisdictions, financial and tax planning, opening and management of bank accounts in well-known banks in Cyprus, preparation of financial and accounting reports, advising on obtaining tax residency status, preparation of VAT declarations, VAT refund, advising on double taxation, issues on M&A transactions, advising on transfer pricing issues.