Services

Corporate Administration

LSTS has a highly experienced and qualified team to support its clients with incorporation of Cyprus companies/formation of Cyprus local and international trusts as well as their day-to-day administration and management.

LSTS can also assist its clients in the administration of Cyprus Alternative Investment Funds.

Our corporate & administrative services include, but are not limited to:

• Incorporation of Cyprus companies
• Formation of Cyprus International and Cyprus Local Trusts
• Management and Administrative services for Cyprus entities
• Provision of Professional Directors, Trustees, Protectors
• Corporate Secretarial services
• Support in the opening of accounts with financial institutions
• Registration to Income Tax, VAT & Social Insurance Departments
• Preparation of legal documents
• Fund Administration Services

LSTS tax team is highly experienced and possesses in-depth technical knowledge of both direct and indirect taxes in Cyprus and on international level. Our tax team can assist our clients with a wide range of taxation matters starting from technical matters on local taxation to international tax planning and corporate structures.

LSTS tax team is dedicated to gain thorough understanding of our clients’ business and objectives and develop personalized tax strategies that work for them.

International tax advisory and compliance

LSTS team can advise and assist in implementation of the following international direct and indirect tax matters:

• Cross border transactions
• Cross-border mergers and acquisitions and re-domiciliations
• Group reorganizations
• Income and capital gains tax
• Tax due diligence
• International VAT advice

Direct Tax advisory and compliance

• Obtaining of individual and corporate tax residency certificates
• Obtaining of non-domicile certificates for individuals
• Personal tax computation and tax returns (including capital statements)
• Preparation of tax computations and company tax returns
• Assistance in preparing tax calculations for financial statements
• Registration with Income Tax Authorities (TIN number)
• Special defense contribution calculations and exemption certificates
• Capital Gains tax
• Immovable Property tax
• Stamp duty
• Land transfer fees
• Communication with Tax Authorities, support in dispute resolutions
• Preparation and submission of tax ruling requests

Indirect Tax (VAT) advisory and compliance

• Registration with VAT authorities (VAT number)
• Completion of quarterly returns
• VAT review
• Communications with VAT Authorities, preparation and submission of VAT ruling requests, support in dispute resolutions

Transfer pricing reports

LSTS team has relevant knowledge and experience to prepare transfer pricing and benchmarking reports for intra-group financial transactions per requirements set by Cyprus Tax Authorities in the Interpretive Circular 3 dated 30 June 2017 and Circular 2017-4 22 March 2017.

LSTS can offer their clients a full range of legal services. LSTS legal team includes qualified internal legal advisers with profound experience in corporate law, wealth management and other matters as well as well-respected associate legal firms.

Our legal services include:

• Reorganization of holding structures, establishing and amendment of trusts
• Shareholders agreements and corporate law matters
• Employees Stock-option plans
• M&A transaction support – from Terms Sheet to completion
• Legal Due Dilligence
• Corporate financing, secured and usecured loans
• Pledges and registration of charges
• Legal Opinions
• General legal advice
• Drafting of various legal documents

LSTS audit team ensures that company’s financial statements provide accurate financial information to the shareholders and other stakeholders and that they companies’ financial risks are managed effectively.

Our audit methodology is in line with the International Financial Reporting Standards (IFRSs), International Auditing and Assurance Standards as well as Cyprus Companies Law, Cap. 113.

LSTS Audit Services Ltd is registered with ICPAC with registration number E294/A/2013.

Our audit and assurance services include:

• Consulting services related to the proper application of IFRS and other generally accepted accounting principles.
• Preparation of Financial Statements in accordance with International Financial Reporting Standards (IFRSs).
• Audit (statutory and regulatory) and issuance of an Audit opinion on the financial statements of a company/trust/fund in accordance with International Standards of Auditing (ISAs).
• Due diligence assignments and other management reports review, budget reviews etc.

LSTS has a team of professionally qualified accountants to provide extensive and customized accounting and payroll services as follows:

Accounting services:

• Preparation and keeping of automated accounting records in multiple currencies
• Preparation of management accounts (on a monthly, quarterly and yearly basis)
• Preparation of Cash Flows
• Preparation of Consolidated Financial Statements
• Preparation of Statutory Financial Statements
• Bank reconciliations

Payroll services:

• Drafting of employment agreements
• Assistance in registering employees in Social Insurance and Tax departments
• Calculation of monthly payroll
• Issue of standard payslips, IR63 forms
• Preparation and submission of IR7 reports
• Liaison with local tax authorities
• Calculation and execution of payments to the Income tax (PAYE) and social insurance authorities
• Execution of the payments of salaries to employees' bank accounts
• Other payroll related tasks

There are many situations where a valuation of a business, its shares, and its assets will be required . LSTS valuation team helps clients to successfully measure and understand the value of their assets in today’s rigorous regulatory environment by providing independent and well-supported valuations.

LSTS can provide their clients with enterprise and asset valuations in the framework of:

• Mergers and acquisitions
• Corporate restructuring
• Issuance of new shares
• Liquidation
• Goodwill computations
• Transferring of intangible assets within the group (software/games/applications)
• Fairness opinion reports
• Stock exchange listings 
• Dispute resolution reports

LSTS has a dedicated team experienced in immigration matters. Our specialists advise the clients on their residency permit requirements and provide full assistance in the collection of documents and application process until the issuance of the requested residency permit.

We can provide support on the following:

• Employment Permits (both temporary and permanent)
• Temporary Residence Permit
• Permanent Residency Permit (via Investment route or otherwise)

LSTS team provides one stop shop for the companies wishing to establish their place of business in Cyprus and/or employ Non-EU nationals.

We can assist our clients with:

• Establishing Cyprus entity
• Opening bank accounts
• Registering the entity as Foreign Interest in the Ministry of Commerce
• Preparing employment contracts
• Full assistance in collection of the necessary documents, medical checks, bank guarantees, completion of forms required for application Employment Permits
• Application Employment permits for Management and Personnel
• Any other assistance that may be required by the clients

Our team can also assist the clients upon request in the following matters:

• Finding and arranging (rent/purchase) suitable premises for the office
• Finding apartments for rent/purchase for the employees

Permanent Residency Permit via Investment Scheme

Non-EU nationals can receive Immigration Permit (without right to work) with the expedited procedure provided certain investment criteria are met (i.e. purchase of a new house/apartment from a development company for at least EUR300,000)

LSTS team will:

• Prepare a portfolio of suitable investments
• Negotiate and review the terms of agreement
• Collect all necessary documents and fill in all required applications for the application of the Immigration Permit

FATCA and CRS

To improve global cross border tax compliance various reporting regimes relating to the exchange of taxpayer information have been undertaken by governments. Such regimes include the Foreign Account Tax Compliance Act (‘‘FATCA’’), which focuses on the reporting of financial account information with respect to U.S. taxpayers, and the OECD Common Reporting Standard (“CRS”), a global standard for the automatic exchange of financial account information.

LSTS team can assist our clients with the following:

• Initial entity analysis so as to determine the classification of an entity and identify the relevant implications arising from such classification
• Completion of FATCA and CRS self-certification forms

DAC 6

On 18 March 2021 the Cyprus Parliament voted into law the provisions of the EU Council Directive 2018/822 (“the Directive”), known as “DAC6”.

DAC6 imposes mandatory reporting of cross-border arrangements affecting at least one EU member state that fall within at least one of the “hallmarks”.

LSTS DAC6 team can assist you to understand and comply with the requirements of DAC6.