Welcome to Corpera Partners

We offer a full range of accounting services for local and foreign clients, ensuring precise financial records and reporting that are crucial for business success. Our expertise extends to specialized accounting services for clients based in the UAE (Dubai), underscoring our commitment to supporting businesses in this vibrant economic hub.

As the financial landscape evolves, our services expand to include accounting for forex and cryptocurrency markets. Guided by our expert Christos, we navigate the complexities of digital currency transactions, ensuring compliance and clarity in your financial operations.

Our taxation services are designed to optimize your financial strategy through meticulous tax planning and compliance. Whether it’s routine corporate tax management or intricate cross-border tax implications, our team is equipped to handle all your taxation needs.

Understanding and managing VAT is crucial for businesses operating within VAT-implemented regions like the UAE. Our VAT services ensure that your business complies with VAT regulations, helping you manage submissions, refunds, and related financial activities effectively.

We provide full payroll services to ensure that your payroll obligations are met with precision and efficiency. From routine calculations to complex payroll management for diverse teams, we handle every aspect with the utmost confidentiality and accuracy.

Our audit and assurance services are designed to provide credibility to your financial statements, facilitating stakeholders’ trust and statutory compliance. Our approach is thorough, ensuring that all financial statements accurately reflect the true financial position of your business.

To support your business comprehensively, we offer a range of compliance services that cater to local regulations and international standards, ensuring that your business operations are seamless and secure.

Recognizing the importance of local support in global operations, we have established an associate office in Dubai. This presence enhances our capability to serve our clients with localized knowledge and tailored services that align with the unique business environment of the UAE.

1. Legal Compliance and Regulatory Advice

• Overview: Ensuring compliance with local, regional, and international laws is fundamental for any business. Corporate services include navigating through the complexities of legal requirements to ensure that your business remains compliant with all necessary regulations.
• Benefits: It reduces the risk of legal penalties and enhances business reputation by maintaining high standards of compliance.

2. Entity Formation and Structuring

• Overview: From the initial setup of a company to its operational structuring, corporate services manage all aspects of business formation and framework development.
• Benefits: Ensures optimal structure for tax efficiency, legal compliance, and operational effectiveness, tailored to the specific needs of the business.

3. Secretarial Services

• Overview: Corporate secretarial services handle essential administrative tasks, including the preparation of minutes, resolutions, and managing corporate records.
• Benefits: Guarantees adherence to statutory obligations while providing organizational support, allowing management to focus on core business activities.

4. Financial Management

●     Overview: Includes services like bookkeeping, financial reporting, and the management of accounts, tailored to support the specific financial operations of the corporation.

●     Benefits: Enhances decision-making through timely and accurate financial information, improving financial health and operational insight.

It is often said that businesses thrive in environments with a high degree of certainty, stability, and predictability. However, tax laws are not always clear and straightforward.

Taxpayers (whether companies or physical persons) often seek certainty before they commit to paying their taxes in a specific tax jurisdiction.

For example, before an individual sells an asset, he wants to make sure of how he will be taxed on the disposal of the asset. And before a company invests capital to develop a patent, they often seek assurance that the tax department will accept the investment as a patent.

A common problem is that the application of tax laws in such future transactions is often a gray area, and the decisions of the Cyprus tax department cannot be guaranteed in advance, just by reading the relevant tax laws.

To assist the decision making of taxpayers, the Cyprus tax department offers tax rulings in advance, on any tax question.

2. WHAT EXACTLY IS A TAX RULING? 

A tax ruling is a formal response from the Cyprus tax authorities to a tax-related question. Essentially it is clarification of how the tax laws will be applied in the specific (future) circumstances of a taxpayer.

The response is in the form of a letter, signed by a senior official of the Ministry of Finance (tax department), which clarifies what will be the application of tax laws, based on the facts described by the taxpayer.

3. IS A TAX RULING BINDING?

Yes, a ruling is binding for the taxpayer who requested it, on the conditions that:

• The facts and circumstances were accurately and honestly provided to the tax department.
• There is no subsequent change in the tax laws which renders the ruling inapplicable.

The purpose of tax rulings is to enhance the transparency of the Cyprus tax system.

4. WHO CAN APPLY FOR A RULING? 

Both companies and natural persons are free to request a tax ruling on any tax subject.

5. WHAT ARE THE TIMEFRAMES AND COSTS?

• A tax ruling costs €1.000 (tax department fees). Response time is usually 3-5 months.
• An expediated tax ruling (guaranteed response from the tax authorities within 21 business days) costs €2.000 (tax department fees).

Our firm’s fees for handling a tax-ruling application: quoted on a case-by-case basis, subject to complexity.

6. WHAT ARE SOME EXAMPLES OF RULINGS?

• Client A (a physical person) wanted to be taxed in Cyprus for a specific tax year, and he was ready to spend 183 days in Cyprus during the next 12 months. Before taking the decision to relocate himself and his family, Client A wanted to be exactly sure of how the tax department would tax his worldwide income, so for his peace of mind he requested a tax ruling.

• Client B (a company) wanted to sell an asset and expected to make a profit from the sale. However, it was not clear if the profit would be classified as a capital gain, or as trading income. Taxation is very different in each case. Client B wanted to be 100% certain of how the tax department will treat the transaction, so before selling the asset, a tax ruling was requested to clarify the future tax position.

• Client C (a company) was going to execute a significant cross-border transaction with a company in another EU country. There was disagreement between our (CBU) interpretation of a relevant tax law, and the Client’s legal department’s interpretation of the tax law. Client C decided to request a tax ruling. The facts of a hypothetical scenario involving the cross-border transaction were presented to the tax department, which issued a ruling clarifying how the law should be applied in the specific circumstances of the client.

1. Strategic Planning and Implementation

●     Overview: Advisory services help businesses define their strategic goals and develop actionable plans to achieve them. This includes market analysis, scenario planning, and strategy execution guidance.

●     Benefits: It provides a clear roadmap for growth and adaptation, helping businesses navigate changing markets and stay competitive.

2. Operational Efficiency and Process Optimization

●     Overview: Focuses on streamlining operations, improving productivity, and optimizing business processes through innovative solutions and technology integration.

●     Benefits: It increases operational efficiency, reduces costs, and improves service delivery, directly impacting the bottom line.

3. Risk Management and Mitigation

●     Overview: Identifies potential risks in business operations and strategic decisions. Advisory services develop risk management frameworks and strategies to mitigate these risks.

●     Benefits: It protects the company from unforeseen events, ensuring sustainability and stability in operations.

4. Change Management and Organizational Development

●     Overview: Supports businesses in managing change processes, from organizational restructuring to technology adoption, ensuring smooth transitions and alignment with overall business objectives.

●     Benefits: It enhances organizational agility and employee adaptation to change, critical for maintaining operational effectiveness in a dynamic business environment.

5. Leadership and Talent Development

●     Overview: Provides coaching and development programs for senior management and key personnel, aiming to enhance leadership skills and organizational culture.

●     Benefits: It builds a strong leadership pipeline and fosters a culture that supports continuous improvement and innovation.