Creating substance in Cyprus has become a definitive solution for overseas companies seeking to solidify their tax status in Cyprus and to resolve any taxation discrepancies to meet the criteria for Controlled Foreign Corporation (CFC) rules, the OECD model tax convention, double tax treaties (DTA's) and the framework on Base Erosion and Profit Shifting (BEPS) measures.
The industry is ever-changing due to these continuous reforms and tougher requirements for transparency and reporting so businesses are increasingly looking to Cyprus to build real economic substance and settle their activities here due to the well know attractive tax system.
Consequently, Cyprus banks who also are required to follow EU and OECD guidelines have become more and more stringent with tighter regulation due to strict monitoring by the Central Bank and the EU, creating and maintaining business substance has become a key factor (though not the only factor) to determining whether banks will accept to open and maintain accounts for both Cyprus and International companies.
Cyprus Substance provides the services you need to set up your business substance here, whether it be a start-up enterprise or an existing business that needs to transition and settle its activities in Cyprus.
By offering a full scope of services, from advising and suggesting the property for your office needs, assisting with brokering the deals with the real estate agents, fully equipping your office with state of the art furniture and fixings, IT set up and support, hiring and training of well-informed specialized employees for management and support roles, full payroll services and any other services needed to set up your business substance.