company formation in cyprus

Globalserve Consultants, a company based in Cyprus, is offering payroll and social insurance services to companies that have employees in Cyprus. And through its vast network of partners, it can also provide professional and quality corporate tax and accounting services across Europe, the countries of Eastern Mediterranean and the Gulf region, and in the CIS countries. The payroll processing services they can provide include: social insurance and income tax registration of the company; preparation of employment contract; monthly calculation of social insurance and payment as well as tax contributions to the authorities; social insurance and income tax registration for the new staff; payslips preparation for each person; obtaining a yellow slip for foreigners if required; monthly calculation and payment of salaries to the personal accounts of staff through e-banking; and preparation and distribution of annual payroll forms (IR63) to employees. There are a number of Cypriot laws with regards to payroll that clients need to know about. First of all, social insurance is mandatory and covers all individuals who are gainfully employed in Cyprus. And the social insurance contributions are paid by the employee, the employer, and the state. Second, each worker is legally entitled to an yearly leave of 20 days. Third, social pension is a government pension that is available for women over the age of 63 and men over the age of 65. And the paid-out pension is based on the total contributions made by the individual. The Pay as You Earn (PAYE) system is followed and it is applicable to all wages, salaries, directors’ emolument, fringe benefits, and pensions. PAYE is applicable to all resident and non-resident workers in Cyprus. The difference is that resident employees are taxed on their worldwide income while non-resident workers are taxed on the income they are able to generate in Cyprus. The employee is obligated to pay such tax and the employer deducts it at the source each month. The company provides tax planning and consultancy services in Cyprus to help businesses with their tax compliance, including tax advisory services, resolution of tax issues, preparation of tax returns, payment of tax, auditing of tax returns, and more. In addition, they are offering their services to businessmen and investors who are establishing international business companies as capital movements are becoming mobile and barriers to foreign investments are disappearing due to the globalization of the economy and the growth of trade activity and investments. Globalserve Consultants also offers company formation services in Cyprus. This includes company incorporation, company registration, and management of international companies as well as tax, legal, financial, and banking support, for the purpose of helping offshore clients set up substance, meet their targets, and successfully resolve business challenges. Cyprus is becoming popular as a major business centre in Europe, which has resulted in a recent increase in investments and company formations on the island. There are many factors that make Cyprus an attractive place for establishing a company. For those who come from English speaking countries, English is widely spoken in Cyprus and English is used within legal documentation. Also, Russian can also be found in the professional and retail industries, including in the financial and tourist industries. Cyprus also has high tax incentives for those who establish their business ventures in the country, including the very low rate of corporation tax of only 12.5 percent, including the tax exemptions to the capital gains and dividends received. Founded in 1994, Globalserve Consultants is a licensed corporate and accounting company, regulated by ICPAC in Cyprus. They offer a holistic range of accounting, tax, legal, banking, corporate and financial advisory services for international companies, international investors, and businesses operating worldwide. Their headquarters are located in the island of Cyprus but they are also able to serve various countries around the world through their partners. They are a member of the ICPAC, CCCI, STEP, IFA, and often take part in international conferences in financial management and international taxation. When in need of services for accounting and payroll Cyprus companies and those in other countries can check out the Globalserve Consultants website or contact them on the phone or through email.

Limassol, Cyprus based Globalserve Consultants Ltd is reaching out to share information about their Cyprus accounting service. Globalserve Consultants Ltd has proven itself as a provider of holistic consultancy services to local companies as well as international companies in over 30 jurisdictions. A representative for Globalserve Consultants Ltd says, “There are many reasons why Cyprus can provide a number of significant benefits to the investors, and this has made the country a very attractive business destination for business owners all over the world. Whether you are a local Cypriot company or an international business owner planning on starting a business in Cypress, however, there is much you need to know about VAT and tax liabilities in Cyprus. This also extends to their associated services.” The company is one of Limassol's leading multidisciplinary accounting firms. They boast a team of professional and qualified accountants who are able to offer business accounting services, bookkeeping services, accounting tax, preparation of financial statements, accounting financial management, VAT, company audit, accounting payroll and any other kind of tax planning and consultancy services to Cyprus companies and individuals as well as international clients. In coordination with auditors and tax advisors, the experienced team of accountants at Globalserve Consultants Ltd can advise and assist business owners in their accounting, financial, VAT, and tax obligations, providing professional support for Cyprus, UK and other international business companies (British Virgin Islands, Belize, United Arab Emirates, Seychelles, Panama, Malta, Hong Kong and so on). The company says that the exact nature of the services that are necessary for a business in Cyprus can depend on whether the business is based locally or otherwise. They can also depend on which country the business originates from. No matter the nature of services needed, Globalserve Consultants Ltd assures that they can provide. The company’s representative says, “When you work with us, you will be working with a dedicated and dynamic team of high caliber, multilingual, accountants, lawyers, business and tax consultants who are committed to provide prompt, competent and high quality service, driven by our customer oriented strategy. Their skills, knowledge and long experience in a wide range of businesses and regions, combined with their commitment and dedication and their immediate response are the key factors which are appreciated by our clients. Our clients are a critical part of our success, and our team is here to help you with whatever service you might need. It is our pleasure to ensure that you walk away completely satisfied.” The quality of services provided by Globalserve Consultants has made them a popular company, with many reviews praising their excellent work and dedication. M. Miller writes in a 5-Star Google review, “Our company has been working with them for many years. They are one of the best in this country.” Another review from I. Avdeeva says that the company provides a, “Quick and professional service! Having worked with Globalserve for more than 10 years and can confirm that this company is the best in Cyprus. I would recommend it to everyone. Mrs. Phani and her team are going to find the best solutions for your business!” Globalserve Consultants Ltd is a licensed accounting and corporate provider firm, regulated by ICPAC in Cyprus with license number E495/F/2013. It is one of the leading firms in this sector in Cyprus and has been in business since 1994. They engage in international tax advisory services, formation and management of international business companies (including Cyprus, UAE, UK, Maltese, Dutch, Hong Kong, Singapore, Swiss, Luxemburg, Bulgarian the classical offshore and other International Business Companies), and they are incorporated in more than 30 international business centers. Those who want to learn more about Globalserve Consultants Ltd and wide their range of services or are simply looking for VAT and accounting services in Cyprus and other international businesses should visit their official website for more information. Globalserve Consultants Ltd encourages interested parties to get in touch with their office via phone or email for any questions, concerns or clarifications. Globalserve Consultants Ltd also maintains a social media presence on Facebook and LinkedIn.