Services
Risk & Regulatory Compliance
Specialising in guiding businesses through the intricacies of regulatory frameworks and risk management. Our tailored solutions ensure that companies stay ahead of compliance challenges while minimising risk exposure and safeguarding their operations.
Funds
Cyprus is considered as a European and International Investment Funds Hub accommodating sophisticated fund structures as well as fund managers.
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Cyprus also offers one of the most attractive tax regimes in Europe. Foreign investors and Cyprus non-domiciled individuals enjoy no withholding tax on dividends. At the fund level, there is a uniform 12,5% corporation tax on profits, constituting one of the lowest corporation tax percentages in Europe. Fund management and administration services provided to investment funds are not subject to VAT, resulting to the value base of the investment fund not being burdened with a non-recoverable cost.
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Cyprus has also access to an extensive network of double tax treaties allowing for tax efficient structuring of investments.
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Strategic Business and Tourist HubCyprus is an established business hub & a popular tourist destination making the island a strategic location between three continents.
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Favorable Tax RegimeCyprus maintains a statutory corporate tax rate of 12.5% - several exceptions exist on foreign-sourced dividends and disposal of shares and qualifying titles, as well as no Withholding Tax on payments made abroad.
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Extensive Double Taxation AgreementsDouble taxation agreements with over 60 countries, including the UK.
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Key Economic SectorsKey sectors include shipping, tourism, hydrocarbons, and financial services.
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Attractive Investment EnvironmentCombination of professional people, business infrastructure and availability of investment opportunities continue to make it an attractive business hub in the region.
Investment Firms Licensing & Regulatory Compliance
Currently there are more than 200 investment firms regulated by the Cyprus Securities and Exchange Commission (“CySEC”).
A proactive rather than a reactive approach to regulation saves time and effort at a later stage.
We help Cyprus Investment Firms to confidently navigate regulatory changes, addressing their needs for integrated and practical solutions that cover the entire regulatory agenda and beyond. ​​
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Strategic Business and Tourist HubCyprus is an established business hub & a popular tourist destination making the island a strategic location between three continents.
-
Favorable Tax RegimeCyprus maintains a statutory corporate tax rate of 12.5% - several exceptions exist on foreign-sourced dividends and disposal of shares and qualifying titles, as well as no Withholding Tax on payments made abroad.
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Extensive Double Taxation AgreementsDouble taxation agreements with over 60 countries, including the UK.
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Key Economic SectorsKey sectors include shipping, tourism, hydrocarbons, and financial services.
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Attractive Investment EnvironmentCombination of professional people, business infrastructure and availability of investment opportunities continue to make it an attractive business hub in the region.
FATCA and CRS Compliance
Several initiatives have been undertaken, designed to combat tax evasion by ensuring greater financial transparency across borders. Such initiatives include the Foreign Account Tax Compliance Act (‘‘FATCA’’), which mandates foreign financial institutions to report information about financial accounts held by U.S. taxpayers and the OECD Common Reporting Standard (“CRS”), which serves as a global standard for the automatic exchange of financial account information between participating countries.
Both FATCA and CRS require Financial Institutions, such as banks, custodians, asset managers, certain types of funds, trusts and insurance companies to disclose information about their account holders, thereby fostering international cooperation and transparency in the global financial system. Such information is consequently reported to the tax authorities of the country(ies) of tax residence of each account holder.
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An Entity’s FATCA and CRS classifications will determine relevant compliance obligations and reporting implications for such entity. In this respect, an Entity will need to assess its own FATCA and CRS classifications using the regimes of FATCA and CRS. For instance, Entities falling under the definition of a Financial Institution for FATCA and CRS purposes, will be required to comply with various due diligence, reporting and other compliance obligations arising from FATCA and CRS as well as local legislation. Furthermore, Entities falling under the definition of Non-Financial Entities will be requested by Financial Institutions to provide them with completed Self-Certification forms, disclosing amongst others, their FATCA and CRS classifications. This will determine as to whether the Entity’s account is considered reportable for FATCA and/or CRS purposes.
Internal Audit
Every successful business is underpinned by robust governance and controls, and this includes an effective and valued Internal Audit function – one that is aligned to the strategic objectives of the organisation and able to deliver genuine insight. In today’s expanding risk landscape and ever-increasing stakeholder expectations, Internal Audit has emerged as a critical lever for change.
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At LCK, we tailor our solutions to match your individual business needs and we have the flexibility and agility to bring you the right expertise at the right time.
We can assist with the following:
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Internal Audit outsourcing: An outsourced service provided through a combination of a dedicated, core delivery service team and a virtual team comprising the broadest range of specialists
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Internal Audit co-sourcing: In our co-sourcing arrangements, we work in partnership with our clients, taking a variety of roles and responsibilities, but overall reporting to the head of Internal Audit
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Advisory services: Related to any aspect of Internal Audit including methodology and tools
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Internal Controls Optimisation: Support in utilising internal controls in a strategic manner, driven by capabilities and performance, aligning internal controls to the risks that you face, thus improving your ability to effectively and efficiently manage these risks
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External Quality Assessments/Internal Audit effectiveness reviews: Professional assessments and reviews of the entire spectrum of internal audit strategy and operations or specific to a certain area, based on your needs
Legal Services
Service offering of our team of experts and legal partners:
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Strategic Business and Tourist HubCyprus is an established business hub & a popular tourist destination making the island a strategic location between three continents.
-
Favorable Tax RegimeCyprus maintains a statutory corporate tax rate of 12.5% - several exceptions exist on foreign-sourced dividends and disposal of shares and qualifying titles, as well as no Withholding Tax on payments made abroad.
-
Extensive Double Taxation AgreementsDouble taxation agreements with over 60 countries, including the UK.
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Key Economic SectorsKey sectors include shipping, tourism, hydrocarbons, and financial services.
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Attractive Investment EnvironmentCombination of professional people, business infrastructure and availability of investment opportunities continue to make it an attractive business hub in the region.
