Substance and Control in Cyprus

Περιγραφή

This seminar equips participants with vital tools to optimize tax planning, ensure compliance, strengthen corporate governance, and foster valuable business relationships across borders. Acquiring this knowledge opens doors to a world of possibilities and empowers Greek entrepreneurs to navigate the intricacies of conducting successful business in Cyprus and beyond.

Aims of the seminar:

1. regarding the importance of substance, management, and control in Cyprus Companies.

2. regarding the contents of the substance, management and control test

3. regarding the Cypriot regulatory provisions

4. regarding the case law relating to management, substance and control.

5. regarding the substance risk factors.

6. regarding inland revenue approaches in Cyprus and abroad.

7. regarding the new European approaches to substance and control.

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Why this seminar is important for you?

1. to apply the substance, management and control test – both in theory and in practice.

2. to analyse the management and corporate governance of client companies and identify any risk factors.

3. to implement policies and procedures and to better advise clients in relation to challenges relating to substance, management and control.

4. to identify the problems relating to dual residency of clients.

5. to better advise and protect clients from the challenges ahead relating to the ATAD-3.

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Attending a course on substance and control in Cyprus can provide individuals with several valuable benefits and insights. Here are some reasons why someone might consider attending such a course:

Understanding Substance Requirements: Many jurisdictions, including Cyprus, have introduced substance requirements to combat harmful tax practices and ensure that companies have a genuine presence and economic activity within their jurisdiction. A course on substance and control in Cyprus can help individuals understand these requirements and the criteria for demonstrating substance in the context of their business operations.

Compliance with International Standards: International bodies such as the OECD and the European Union have been emphasizing the importance of substance and control in the context of tax planning and cross-border transactions. Attending a course on substance and control in Cyprus can provide individuals with insights into the evolving international standards and guidelines, enabling them to ensure compliance and mitigate risks.

Navigating Regulatory and Compliance Challenges: Substance requirements often involve understanding complex legal and regulatory frameworks. By attending a course, individuals can gain a comprehensive understanding of the regulatory environment in Cyprus, including the relevant laws, regulations, and guidelines related to substance and control. This knowledge can assist them in navigating compliance challenges and avoiding potential pitfalls.

Optimizing Business Operations: Substance requirements are not only about compliance; they can also provide an opportunity to optimize business operations. By attending a course on substance and control in Cyprus, individuals can gain insights into how to structure and organize their business activities to meet substance requirements effectively. This can help enhance operational efficiency and contribute to the overall success of their business.

Professional Advancement: Professionals working in fields such as tax consulting, corporate law, accounting, or compliance may find attending a course on substance and control in Cyprus beneficial for their professional development. It can enhance their expertise, expand their knowledge base, and provide them with a competitive edge in advising clients or managing corporate affairs in relation to substance requirements.

Mitigating Risks and Penalties: Non-compliance with substance requirements can result in penalties, reputational damage, or other legal consequences. Attending a course can help individuals identify potential risks, understand the implications of non-compliance, and develop strategies to mitigate those risks effectively.

Ενότητες

COURSE CONTENT:

UNIT 1

The importance of the substance of a company
The Substance Management and control test
Cyprus Substance Rules.
Important Substance Risk factors
The case of De Beers Consolidated Mines Ltd – establishing substance.
Management and control of the business of the company vs. Shareholders Control of the company
Management and control of the business vs. Place of business (trading and business operations)

UNIT 2

Management and control vs. Nominee Directors
Management and control vs. appointment of directors outside of Cyprus
The real exercise of management and control
The issue of dual residency
The Cyprus Inland Revenue approach vs. Foreign Inland Revenue approach
ATAD-3– The challenges ahead.

Πληροφορίες

This course is suitable for:

Lawyers
Advocates
Trainee Lawyers
Corporate Administrators
Paralegals
Accountants
Auditors
Individuals considering, establishing tax residency in Cyprus
Business owners and entrepreneurs
Tax professionals and advisors
Financial professionals
Bankers
Investment advisors
Wealth managers
Other Professionals