Services
- Audit and assurance
- VAT related services
- Taxation and international tax planning
- Accounting
- Management consulting
- International Trusts
- International Business company services
Cyprus for Commercial reasons
- Membership of European Union as from 1 st May 2004
- Anonymity of the beneficial owners of a company
- High standard of banking system
- Freedom from exchange control
Cyprus for tax reasons
- The lowest tax system in the European Union at 10 % on taxable profits
- One of the most favorable Holding company jurisdiction(even a small holding of 1 % in foreign companies entitles the Cyprus Holding company to enjoy substantial tax benefits)
- Availability of Group losses relief without any time restrictions, under certain conditions
Audit and assurance
Based on the Companies Law in Cyprus, every incorporated company at the Republic of Cyprus is obliged to submit annually to the Inland Revenue its audited financial statements, which must be prepared by licensed auditors eligible to perform statutory audits. Audit/accountancy licenses are granted, monitored and regulated under the Companies Law and the assigned Regulated Bodies.FRS Audit Services Ltd maintains a flexible audit approach enabling it to respond promptly and effectively to the individual needs and requirements of its clients.
Our audit methodology is not limited to the provision of our final audit report, as an in depth evaluation of the client's internal control systems, regulatory framework and financial reporting systems, forms an integrated part of our work to be done in this field of offered services.
Thus we see ourselves not just as auditors providing our opinion on the financial statements of our clients, but also as independent external advisors offering our advice on a wide spectrum of matters and issues with the aim to assist our clients to enhance and improve their business within a well-controlled business environment.
Specifically our auditing service may provide to the client the following:
- Statutory audit of the Financial statements
- Specific purpose audit
- Internal audit
- Constructive advice and recommendations on the systems of internal control & operations