Tel: +357 2226 2844

Immigration Services

September 8, 2017

Fidescorp’s dedicated team, in cooperation with our global partners, provides a full range of immigration services covering the Cyprus programs, as well as the ones of other jurisdictions including Greece, Portugal, Spain, Antigua and Barbuda, St. Kitts & Nevis, Hungary, Austria, Malta, Switzerland, Hong Kong, Canada, UK and the US. Our team will navigate you through the complex procedures and requirements and will make sure that the whole process will be seamless and hassle free. Key Immigration Services: Cyprus Permanent Residency Cypriot Investment Program Greece residency Portugal residency Spain residency Antigua and Barbuda passport Kitts & Nevis passport Hungary residency Austria residency Malta passport Switzerland residency Hong Kong residency Canada, UK and US visas. Cyprus Permanent Residency Introduction Cyprus provides a very simplified scheme for 3rd country nationals that wish to obtain a Permanent Residence Permit in Cyprus. The Aliens   and   Immigration Regulations  of  1972  outline  the  Categories  under which  the  third  country  national  may  apply  for  an Immigration Permit. There are two ways to obtain a Cyprus permanent residence: Under Regulation 6(2) – via investment: usually granted within 2-3 months Category F (Regulation 5(f)): granted within 6- 12 months The Cyprus Permanent Residence permit is granted to the applicant and his/her spouse and to their minor children up until the age of 25 years old. The permit is permanent and does not expire.  The holders of this permit are not allowed to work in Cyprus, but they can own a business in Cyprus from which they will be receiving dividends. The permit is revoked when the holder is granted permanent residence in another country and/or when he/she did not visit Cyprus for a period longer than 2 years continuously. Regulatation 6(2) Procedure Under this procedure, the applicant must: Purchase one or more newresidential (or combination) property(ies) of at a value of at least €300,000 (not including VAT) At least €200,000 (not including VAT) should be paid to the Vendor Proofs of transfer of €200,000 (not including VAT) from abroad must be provided The contract of sale must be deposited at the relevant District Land Registry Maintain a bank deposit of €30,000 in a Cypriot Bank, blocked at least for 3 years. It must be proven that €30,000 was transferred to Cyprus from abroad. The applicant should be able to prove at least €30,000 of annual income for himself and an additional €5,000 for each dependent family member (such income must be sourced from abroad) The applicant, his spouse and children from 18 years old should have and provide clean criminal record from the country of their origin. The period of validity of this document is three months. Category-F Permit Under the decision of the Minister of Interior of the Republic of Cyprus, dated on 07/05/2009, when a non EU Member buys a residence in Cyprus for himself and his family worth €300.000 or more, his application for Permanent Residence, Category F will be examined favourably. This type of permit is granted to those 3rd country nationals, who possess and have fully and freely at their disposal a secured annual income of a minimum of €9,568.17 for a single applicant and €4,613.22 […]

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Corporate Finance

September 9, 2016

Corporate Finance Defining, building and maintaining Winning Strategies Fidescorp’s corporate finance experts are the pre-eminent independent advisers on finance and value creation. Our team guides you through your strategic goals by reviewing and analysing your business, competitors and industry and assist you to define, build and maintain winning business portfolios, align actions with long-term objectives and balance risks. How can we help Our team provides corporate finance services such as mergers and acquisitions, sale of businesses or identification of business partners, negotiations support, business and financial restructuring, valuations, preparation of business plans, due diligence reports, feasibility studies, strategic planning and business recovery reports. With our collaborative and integrated approach to all projects and transactions, clients benefit from our expertise in mergers and acquisitions, business and financial restructuring, strategic planning and valuations. We also undertake corporate turnaround and financial management services in order to assist the management of businesses overcome a crisis. No matter how complex the deal is, we use our experience, to deliver successful solutions. Our services include: Valuation Transaction services M&A advisory Debt advisory Valuation services Fidescorp team works across all industries and business stages, in order to assist client in valuation matters:    Financial reporting M&A transactions Strategic planning and shareholder value optimization Tax planning and compliance Restructuring Investment portfolio Transaction Services Our team of experts can support you in order to create and gain the best value from a transaction, on financial and operational matters. We can assist you effectively in providing insights on key matters and risks associated with a possible business or asset, buyer’s side as well as vendor’s side by giving greater control over the sale process. We can provide vendor assistance services on preparing a business for sale. We can review operational aspects of a company in the context of mergers and acquisitions Mergers & Acquisitions advisory Fides-Corp M&A specialists advise corporate and private equity investors through each stage of the Mergers & Acquisitions process. Our experience and skills, secure the development of customized growth strategies, capitalization of opportunities during integration or a divestiture and support clients in order to achieve their objectives. We assist in: Acquisitions of companies and businesses Sale of companies or businesses Raising finance (equity and debt) for acquisitions Buying or selling companies in financial distress Private equity advisory Debt advisory Fidescorp team advises clients on all aspects of debt financing. Particularly we undertake analysis of existing debt arrangements and suggestions on cost reduction and flexibility improvement, we prepare investment documentation to inform and facilitate discussions with potential new lenders, and we assist on designing the financial assessment of existing credit situation (tax optimization included). We evaluate proposals from lenders as well as personal guaranties required by banks

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Audit & Assurance

September 9, 2016

Audit & Assurance Your guide through statutory and regulatory complexity Fidescorp team operates as your navigator and helps you walk through the mazy statutory and regulatory content, by auditing and issuing an audit opinion on the financial statements of your company, in accordance with International Standards of Auditing (ISAs), by preparing Financial Statements in accordance with International Financial Reporting Standards (IFRSs), by consulting on the application of IFRSs and other generally accepted accounting practices and other assurance services such as processes and by controlling assessment, forensic audit services and management reports reviews. Our goal is to improve the information or the context of information so that you can make more informed, and presumably better, decisions. Fidescorp specialized department can offer to our clients the following services in this area: Statutory and regulatory audit of financial statements for companies (capital markets transactions, information systems review, accounting and regulatory issues) Audit of financial statements prepared in accordance with International Financial Reporting Standards (IFRS) and consulting on the application of IFRSs or other generally accepted accounting practices Internal Audit as an objective assurance. Our goal is to add value and optimize your company’s or business operations.  Why choose Fidescorp Our team’s experience and expertise ensure effective and smart solutions throughout an audit process We keep an open door of communication with our clients, creating a strong, trustful and reliable relationship, which ensures the proper plan and implementation of the audit process. We maximize delivery of value to the business and provide added value through related services that arise during the process. A well informed and updated client is closer to success and avoids risks. Fidescorp values highly the importance of updating on time, accurately and continuously the clients on changes in financial reporting or revisions of legislative content. Accounting & Payroll Minimise risks and maximise profits. Bookkeeping and accounting can be extremely time consuming and cost intensive, for a company or a business, particularly when you are unfamiliar with local rules and practices. Fidescorp has extensive experience of working alongside client companies by providing them with outsourced accounting facilities. Outsourcing can reduce internal operational costs, save time. It can also eliminate delays, administrative errors as well as potential fines or penalties. Our accounting services include the maintenance of up to date accounting statements to a wide range of multinational entities, payroll and cash management services, cash flow statement preparations and accounts reconciliations. Our experienced team will ensure that with proper financial reporting you will be able to plan and foresee problems or issues before they happen and comply with tax and VAT laws and regulations. Our accounting department consists of highly trained professionals who undertake the maintenance and update of accounting records and prepare the payroll for our clients. An effective accounting system can have a significant impact on a company’s productivity as well as its profitability. Payroll Fidescorp’s payroll expertise, ensure that you maximise the efficiency of your operations and remain in compliance with all local legislation and regulations. By outsourcing your payroll you can free up your valuable time and resources to concentrate on the important business of running your company […]

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Investment Services

September 9, 2016

Investment Services Invest in Cyprus? Be smart and click on Fidescorp as your navigator Cyprus as a destination has lately been offering a one stop shop services for the Cyprus Investment Firms. The provision of investment and ancillary services in Cyprus is governed by the Investment Services and Activities and Regulated Markets Law 144(I)/2007, which implements the relevant EU Directive in the field of Investment Services. Investment firms are regulated by the Cyprus Securities and Exchange Commission (CySEC), under the CIFs and Investments Firms Law. Fidescorp team can effectively navigate you throughout the whole process of investing in Cyprus. Our team can provide: Αdvisory support towards authorisation and registration of a Cyprus Investment Firm (CIF), an Alternative Investment Fund (AIF) or an Alternative Investment Fund Manager (AIFM) regulated by the Cyprus Securities and Exchange Commission (CySEC). Our Team can prepare: Τhe application file in accordance with current regulatory requirements and follow up the application to approval. Thereafter, we are able to provide: Full HR, legal, compliance, accounting and internal/external audit support of the regulated entity. FIDESCORP INVESTMENT SERVICES in connection to the incorporation of an investment firm in Cyprus Preparation of the application for obtaining the authorisation from the Cyprus Securities and Exchange Commission; Locating qualified staff, directors, internal and external auditors Assist in setting up a fully fledged office with the necessary facilities Review the relevant questionnaires to be completed by the shareholders and directors Assist in completion of the necessary checklists, documentations, justifications requested by the authorities Assist and provide guidance  in preparation of the operational Manual and Anti – Money Laundering Manual where applicable Development of an appropriate corporate and organisational structure; Preparation of the business plan; Full HR, legal, compliance, accounting and internal/external audit support of the regulated entity Advantages Favourable tax treatment; Passport for operations in Europe; Full support throughout the whole procedure and operation Conditions and procedures for granting CIF authorization Under the 144(I)/2007 of 26 October 2007 and 106(I)/2009 Law which provides for the provision of Investment Services, the exercise of investment activities, the operation of regulated markets and other related matters, a company licensed to provide investment services (a Cyprus Investment Firm “CIF”) must comply (among other) with the below listed requirements: CIF Initial Capital Requirements The initial capital requirement for granting a license to a CIF depends on the investment services that the CIF offers. There are four different types of CIF (Cypriot Investment Firm) that require different initial capital in order to fulfil the conditions for approval to operate. (1)  A CIF that provides one or more of the following investment services and holds clients’ money or/and client’s financial instruments must have an initial capital of at least two hundred thousand euro (€200.000): The reception and transmission of orders in relation to financial instruments the execution of orders on behalf of clients  Portfolio management;  Provision of investment advice (2)  A CIF that provides the investment services stated in subsection 1(a) or/and (d)  and does not hold clients’ money or/and clients’ financial instruments, and which for that reason may not at any time place themselves in debt with their clients, may have an initial capital […]

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Tax Advisory & Compliance

September 9, 2016

Tax Advisory & Compliance Be a winner, in a demanding environment Fidescorp helps a business or individuals, minimise their tax leakage while being compliant with tax laws and regulations in various jurisdictions. Our team meets successfully the needs of each client, by planning and establishing a customized strategy. Our specialized and experience team undertakes and performs: Τax optimisation reviews on complex corporate structures; Τax reviews of financial statements and reports; Τax advice on proposed transactions involving several jurisdictions; Evaluation of potential tax consequences of various business and personal wealth decisions; Tax advisory on changes in the tax and economic environment. The Fidescorp team also provides assistance on resolving disputes with tax authorities. For individuals: We assess their tax position; We provide meaningful insights on potential ways of allocating their income-generating assets or even opting for alternative tax residency. For Cyprus tax resident corporate and physical persons: We assist to ensure tax compliance by administering the required tax returns and other tax obligations. INTERNATIONAL TAX ADVISORY Tax structures for international clients to ensure maximization of tax savings; Double tax treaties in international tax planning; Beneficial models for the companies; Cross border mergers and acquisitions; Update for the forthcoming changes in the tax legislation of Cyprus and the network CORPORATE TAX ADVISORY Fidescorp provides consulting, planning services and information, relating to tax issues faced by Cyprus and international companies. Tax Consultancy Strategic Tax planning International taxation Preparation of tax provisions Preparation and filing of corporate tax returns Advise on the amount and timing of tax payments PRIVATE CLIENT TAX ADVISORY Fidescorp provides assistance and consulting to individuals relating to any personal taxation issues, from planning to compliance. Tax Returns & computations Capital Statements Tax Consultancy & tax planning, personal compliance and business tax planning services Assistance with enquiries from tax authorities Handling international taxes Wealth preservation VAT and Indirect taxes Registration of businesses for direct and indirect tax purposes where this is legally required, VAT registration, deregistration, completion and submission of quarterly VAT returns Acting as a fiscal representative for businesses Negotiations with a country’s tax authorities to secure rulings and resolve disputes Advising on the VAT treatment of specific transactions and VAT refunds Negotiations with TAX-VAT Authorities The Attractive Tax System of Cyprus Cyprus has a simple and transparent tax system with one of the lowest corporate tax rates in the EU and multiple exemptions for both corporate and individuals. The main characteristics of the Cyprus tax system are outlined below: Low corporate income tax rate of 12.5% EU & OECD Compliant Access to EU directives Extensive double tax treaty network with over 60 countries Dividend participation exemption (subject to conditions) Exemption from tax on gains from the disposal of securities (e.g. shares, bonds) Notional interest deduction on equity applies to all taxpayers and all business activities No withholding taxes on interest and dividends No taxation of capital gains (except for disposal of real estate in Cyprus or shares of company holding real estate in Cyprus) No succession taxes No Controlled Foreign Company (CFC) rules Tax neutrality on foreign exchange differences unless they arise from trading in currencies or currency derivatives […]

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