Long term clients of the VFH group may claim a special 10% discount on the prices of company establishment. The same 10% discount may be applied when two companies are being established for the same client at the same time. Discounts related to establishment of more than two companies are agreed upon individually.

Many businesses, especially from western Europe take advantage of the possibilities Cyprus offers especially in the field of transportation and establish here transport companies; these require their own offices and employees to obtain the license. This company may subsequently register not only vehicles used for transportation within EU but also their employees, gaining all benefits of social and health insurance. Our team is experienced in fast obtaining of EU & ”D”  licences for all trucks. Favourable taxes connected with transportation vehicles and significantly lower personal costs caused by lower social and health insurance fees – which are 17% of the gross income – make the Cypriot transport company the most attractive business opportunity for any businessmen from that field within EU.

Cypriot claim management company

Many companies in the Czech Republic dealing with claims acquisition, management and sale frequently encounter bookkeeping issues with these claims or problems with tax deduction of loss from operations with these claims. These issues may be solved by holding and management of such claims via a company registered in Cyprus where a joint IFRS system is used both for bookkeeping and taxes which makes the whole process significantly easier. Writing-off of unpaid claims without any unnecessary restrictions does not constitute a problem as well as any operation reasonably justified to the auditor. Therefore only an existing income from these claims is subjected to a tax.

The tax exemption for received dividends, capital revenues and dividends paid abroad makes Cyprus and ideal holding company place of business. As the bookkeeping regulations are getting more strict, holding companies will have to deal with the problem of a consolidated balance which constitutes an expensive operation with no real added value, especially for private companies with shares not sold on a public market. We study deep into this problem so that we may recommend suitable solutions for our clients.

One of the most common instruments for assets management in the anglo-saxon legal system is a trust. It is a commonly used tool recognized by the EU which was formerly used to deal with a high inheritance tax. the principle of a trust is that the property which the settler has provided from their own property in favour of a third party (beneficiary) is managed by a trustee. Income from the international trust of persons not considered tax residents of Cyprus are exempt from a tax in Cyprus. (Taxation in the country of residence of such beneficiary is a separate legal question.) A trust may own business companies and in case of need it may use nominee services.