Substance Solutions
As a consequence to the latest doctrine of “Substance over Legal Form”, which essentially allows Authorities, including Tax Authorities, to look at the actual arrangements in place of a Company’s operations to prevent artificial structures being used for tax avoidance purposes, it is now becoming imperative that for a Company, to be able to enjoy the beneficial tax regime granted to Cyprus companies, that it provides with certain substance requirements.
To avoid any implications by having lack of substance and be threatened by higher tax rates and additional fines, companies need to demonstrate an economic purpose and relevant infrastructure to achieve substance. Emerald Group can provide a wide range of bespoke substance solutions to assist international clients establishing business presence in Cyprus, setting up Cypriot structures and achieve economic substance.
Substance Solutions:
In-depth review of the current level of substance of already established companies in Cyprus and advise on appropriate measures based on best practises.
Consulting regarding appropriate level of substance prior to the setting up of Cypriot structures.
Hiring local personnel, drafting employment agreements, migration permits and formalities.
Identify suitable office space and office rental agreement.
Insurance policy coverage such as Employers Liability Insurance to cover against liability for any injury incurred to the employees of your Cyprus company as well as Directors and Officers Liability Insurance for the employees appointed as directors of your Cyprus company.
Creation of corporate website, corporate email address, dedicated phone and fax lines.
Tax and legal support regarding the redomiciling of companies to Cyprus.
Services provided via our business associates:
with respect to ongoing administrative functions of the companies (accounting, payroll and HR solutions).
Audit and Advisory services.
Tax services: corporate, personal and indirect tax compliance and advisory.
Interested to get a personalized consultation for your specific business needs?
If you have more questions and would like more specific information to your unique business needs, our team of experts is available for a no-commitment first meeting or virtual call to answer all your questions and if you choose to do business with us - to accommodate you at all the stages of your business cycle. Simply fill out the form on the right and we will get in touch with you within 24 hours.