Doing Business in Cyprus

GPC Network Consulting Co. Ltd

Who we are

• GPC Network Consulting Co. Ltd is a cost effective Network of expert professionals offering a complete bundle of services for establishing and managing companies in the tax friendly

environment of Cyprus.

Our Mission

• To provide international companies, a comprehensive package of business solutions, by utilizing the expert knowledge of our associates in different fields.

• To help our clients establish and / or manage their companies in Cyprus in the most tax effective way and with the best possible information at hand.

Advisory Board

• GPC Network Consulting Co. Ltd relies on the expert opinion, contacts and knowledge of its Advisory Board, a body of immense cumulative wisdom which is the heart of the network.

Cyprus as a Business Center

• Cyprus is an ideal base for international companies. It is ranked 37th in the world, in the Doing Business Report of the World Bank. In short Cyprus is:– A politically stable presidential democracy – A member of the EU and the Euro Zone – A member of the commonwealth– A developed business center with a broad network of legal, accounting and banking services– A well structured corporate environment with a legal system based on the British corporate

law and fully harmonized with EU Laws.– A developed financial center with an excellent banking system supervised by an independent

Central Bank of Cyprus– Offers a superb accounting framework based on the Internationally Accepted Accounting

Standards (IFRS)

Cyprus as Tax Heaven

• Establishing a business in Cyprus is a tax efficient way to conduct business in the European Union

– The lowest corporate tax rate in the EU at 10%.– Double Taxation Treaties with 45 countries, including countries such as Russia, China, India and the

United States, with significant tax advantages– Special tax rates of 5% on pension plans– One of the lowest personal tax rates in the EU – Favorable and reliable legal framework for International Trusts and Funds:

• No tax on all income and gains derived from sources outside Cyprus

Cyprus as a Base

• Cyprus offers excellent infrastructure for establishing a business base including:– Highly educated, qualified and multilingual workforce– Excellent telecommunication systems– Superb road network– English speaking schools– Excellent quality of life– Low crime rate

Using Cyprus Companies

Cyprus registered companies achieve many objectives with significant tax advantages deriving either from Cyprus legislation or from double taxation treaties. The competitive advantages of Cyprus based company are many and unique:

• Holding Companies• Intermediaries between EU and non EU jurisdictions with significant tax benefits:

• No tax from disposal of shares• No withholding of tax on dividends

• Finance Companies• Received Interest income suffers little or no withholding tax at source• Paid Interest without deduction of withholding tax

• Investment Trading Companies• No Tax on profits from disposal of securities irrespective of whether profits are from trading or

capital in nature • Intellectual Property Holding Companies

• Royalty income suffers little or no withholding tax at source • Ship Owning and Managing Companies

• Special tax exceptions apply to companies owning Cyprus flagged ships • Oil and Gas Exploration Companies

• Special tax exceptions apply to such companies

Services Offered

• Corporate Services • Consulting Services• Financial Services• Other Business Services

Corporate Services

• Corporate Formation – Identify the most tax efficient company jurisdiction and decide the

type and legal structure of the company to register, based on client’s business and tax needs.

• "Shelf" companies, – Companies which are ready for immediate use, to satisfy situations

where speed is crucial for achieving clients objectives. • Directorships

– A network of credible and well respected business people who are willing to serve in the board of directors of the client’s company.

Corporate Services

• Company Secretary– Secretarial services for managing all statutory books and records

required from having a company registered in Cyprus. • Registered office

– Offer an address as the registered office of the company in Cyprus – Offer physical office with full supporting services (Details in are found

in “Other Business Services”)• Organization of Annual General Meetings

– Services include: invitation preparation, mailing, attendance records, minutes of the AGM and space preparation.

Corporate Services

• Minutes of Board of Directors' meetings – Sending invitations to Board Members, taking minutes, keeping

minute logs and filing records for company BOD meetings. • Trustee shareholders

– Nominee services for clients who require discretion. • Supporting Services

– Offer all auxiliary services such as translation, notarization, filing of documents etc

Corporate Services

• Inbound and outbound structuring for the operation and repatriation of funds in order to minimize the overall tax burden

• Creation and administration of trusts in Cyprus under the "International Trusts Law '92"

Consulting Services

• Market Entry – Entering the Euro Zone market through a

subsidiary in tax friendly Cyprus is an excellent option for many international companies.

– Selecting the market, the strategy, the timing and the resources required for such an entry is a specialized job in each case.

– GPC Consulting gathers and coordinates a team of experts in different fields, from our network of associates, in order to achieve our clients objectives. The combined knowledge of our network is our strength.

Consulting Services

• Market Research– GPC Consulting organizes and coordinates market

research studies on behalf of the client using its network of specialized associates.

– GPC Consulting analyzes and interprets the market research results on behalf of the client and uses them for strategy formulation

Consulting Services

• Strategic Planning– GPC Consulting assists clients to identify market

opportunities and to formulate the appropriate strategy for exploiting those opportunities using their competitive advantage.

– Depending on the case GPC prepares a complete strategic planning report or specific reports such as:• SWAT report• Feasibility report • Market survey report• Competitor analysis report• Cost Benefit analysis report• Buy or lease report

Consulting Services

• Business Plan Preparation– The vast, cumulative knowledge offered by our

network of experts, puts GPC Consulting in an excellent position to prepare, present and help implement a complete business plan for our client.• In this case, all of the network’s resources are

utilized in order to cover all aspects of business and achieve superb results for the client including:– Legal and tax issues, strategy formulation,

market research, financial planning, financing, marketing, distribution, human resource recruitment, government regulations etc

Consulting Services

• Partner Search or Acquisition Targets– Where necessary GPC can assist its clients in

finding, evaluating and selecting the right strategic partner or acquisition target for achieving the client’s business objectives.• This includes credit report, reputation report,

SWOT report, legal and financial due diligence report.

Financial Services• GPC Network Consulting has significant expertise in the financial

services sector in Cyprus and can assist clients to realize their objectives.

Banking Advisory• Cyprus induction in the EU has brought major changes in

regulation for banks. GPC offer services from the establishment and activation of a bank in Cyprus to its continues compliance with the rules and regulations.

Insurance Advisory• A new insurance law enacted in 2003 is in full

compliance with the EU Directives. An insurance company registered in Cyprus may offer its services free in the EU via its Single Passport. GPC offers services that can help clients obtain a license and get established in Cyprus or establish a branch or a subsidiary:

Payment Services Advisory • The provision of Payment Services in Cyprus and the EU is regulated by the Payment Services

Directive of the European Union (PSD). The PSD provides the legal foundation for the creation of an EU-wide single market for payments and aims at establishing a modern and comprehensive set of rules applicable to all payment services in the European Union. This makes cross-border payments easy, efficient and secure. PSD provides the legal platform for the Single Euro Payments Area. GPC offers set-up and authorization services for a Payment Institution (PI) license and post-license compliance support. With this license a PI may offer its services in the entire European Union.

EU Investment Firms (IF) and Cyprus Bank Registration• GPC can assist its clients obtain an EU Banking license in

Cyprus, a Cyprus Investment Firm License from CySEC.

Consulting For IF• GPC acts as an external consultant for Investment Firms on:

» Establishing Branches» Establishing Representative Offices» Changing shareholders» Structuring/restructuring units and departments» Evaluation and analysis of systems and controls» Adjustments and changes of organizational structure» General strategic advice (related to regulatory matters)

Other Services• GPC Network Consulting Ltd offers other auxiliary

services through associates such as:– Office space which provides fully furnished, private offices with shared reception

area, conference rooms, answering and secretarial services – Risk assessment, health and safety compliance and materials management

services– Human resource training programs – Insurance and Reinsurance services – Shipping insurance

Cyprus as a Business Center• Cyprus as business center has many advantages besides its

favorable tax system. Its human capital and their professionalism have always been the spearhead of its development. GPC Network Consulting Co. Ltd in particular is the easy efficient and cost effective way in doing business in Cyprus.