Company Formation

Incorporation and administration of Cyprus and international companies is our firm’s core service line.

Cyprus is widely considered as one of the most attractive international business jurisdictions in the world mainly due to its highly favourable tax regime, complimented by a vast network of Double Tax Treaties with close to 45 countries worldwide.

Cyprus enjoys a flat corporate rate of 12.5%, which is one of the lowest in Europe, offers dividends and capital gains tax exemption mechanisms and no withholding taxes on payments to non-Cyprus residents.

The island’s attractive tax elements are complimented by a plethora of non-tax elements, such as its political and geographical position, telecommunications, qualified work force, standard of living, safety and especially for Russians, cultural and religious ties.

In order to facilitate the proper utilisation of the Cyprus tax system and even further complement it with an international jurisdiction, Chelco Management offers the following services:

Cyprus Jurisdiction

  • Cyprus Company Formation and Administration
  • Company restructuring
  • Company redomiciliations
  • Pre-registered companies (Shelf)
  • Directorships
  • Trustee Shareholders
  • Registered Office Address
  • Company Secretary

International Jurisdictions

  • International Company Formation and Administration (United Kingdom, Luxembourg, Austria, Malta, BVI, Seychelles, Belize, Panama and more)
  • Company restructuring
  • Company redomiciliations
  • Pre-registered companies (Shelf)
  • Directorships
  • Trustee Shareholders
  • Registered Office Address
  • Company Secretary

Trusts

Trusts are everywhere around us. Whenever the person that legally owns property is different from the person who in some capacity beneficially owns that property, there one finds a trust.

A trust is created when assets are transferred from the instigator of the trust, called the settlor, to a trustee. The trustee then becomes the legal owner and is responsible for managing the assets for the benefit of the beneficiaries of the trust in accordance with the terms of the trust deed. The trustees are the legal owners, whilst the beneficiaries are the equitable owners.

Trusts and in particular the Cyprus International Trust (CIT), have a wide-scope of uses that include tax and inheritance planning, or to protect the ownership of assets. Assets may be comprised of any kind of property including bank deposits, immovable or movable property, jewellery, works of art and of course, shares.

Cyprus recently further modernised its Trust law making Cyprus trusts even more advantageous and competitive. Now, CITs may hold immovable property in Cyprus, while both settlors and beneficiaries may become Cyprus residents the year after the trust is created.

Also recently, Cyprus passed a much-welcomed new legislation regulating companies that provide administrative and trust services, ensuring the legitimacy, professionalism, accountability and regulatory compliance of the company directors and trustees.

SERVICES INCLUDE:

  • Setting up of Cyprus and International Jurisdictions Trusts
  • Setting up of Foundations in a variety of Jurisdictions
  • Trust Structuring
  • Trustee Services
  • Protector Services
    * Trust and trustee services are provided by Chelco Trustees Ltd

International Banking

Chelco has direct access to local and international banking institutions and may assist with the opening, management and administration of bank accounts and other financial vehicles.

BANKING SERVICES INCLUDE:

  • Opening of personal and corporate accounts in Cyprus and worldwide
  • Processing, executing and tracking money transfers
  • Provision of bank signatories
  • Assistance with internet banking facilities
  • Administration and maintenance
  • Escrow services
  • Custodian services

Management and Administration

Managing and controlling a company and at the same time handling tax, office logistics, bookkeeping, communication, IT and HR issues, can be a daunting task.

Chelco can help.

Ranging from setting up your offices, to promoting your business, to hiring or relocating employees or simply keeping your accounts in order, Chelco utilises varied resources and expertise to handle a wide range of tasks.

SERVICES INCLUDE:
Accounting

  • Accounting and Financial Reporting
  • Preparation of consolidated financial statements
  • Payroll
  • Registration with Social Insurance
  • Preparation of VAT returns and VIES forms
  • Set up of accounting systems
  • Production of periodic reports and management accounts
    * VAT services are provided by Chelco VAT Ltd

Managed Offices (CT Business Center)

  • Cyprus permanent business establishment services
    • Virtual Offices
    • Serviced Offices
    • Dedicated or shared office space
    • Dedicated or shared reception and secretarial services
    • Conference room facilities
    • Instant occupancy
    • Parking facilities
    • IT Infrastructure
    • Business telephone, fax and email facilities

Immigration and Relocation

  • Permanent Residence Permits and naturalisations
  • Employment Permits for Europeans and non-Europeans
  • Purchase of Real Estate advisory and support

Marketing Communications

  • Strategic Marketing Consulting
  • Full Corporate ID creation and implementation
  • Website design and development

Information Technology

  • Domain name registration
  • Website Hosting
  • Computer network services
  • Maintenance and support
  • Mail server support
  • Secure e-mail communications
  • Encrypted Environments / Secure Server Transactions