Services
FLANECON LIMITED is a corporate services provider to individuals or corporations wishing to register offshore companies, trusts and foundations. We are specialists in advising and co-ordinating the complete process. The range of services that we provide is listed below:
CRYPTO ASSET SERVICES PROVIDERS (CASP)
On the 23rd of February 2021 L.13(I)/2021 was published on the official Gazette of the Government of Cyprus, which revises the Cyprus AML Law bringing it in line with the EU’s AMLD5 Directive.
As regards crypto-asset service providers, the activity brought into scope of the revised Cyprus AML Law covers the following:
- Cryptocurrency exchanges (crypto-to-crypto and fiat-to-crypto and vice versa).
- Management, administration, transmission, transfer, retention, custodianship and safekeeping of crypto-assets or cryptographic keys or means which allow for the exercise control in crypto-assets.
- Offering and/or sale of crypto-assets, including the initial offering.
- Participation and/or provision of financial services related to the distribution, offering and/or sale of crypto-assets, including the initial offering.
In Cyprus, CySEC is the authority assigned to regulate Providers of Services related to crypto-assets as well as to maintain a register of such providers.
Our services in this regard include:
- Advisory support towards the authorisation and registration of a Crypto asset services providers;
- Preparation of the Application File in accordance with current regulatory requirements to include the following activities;
- Day-to-day operational issues and support on various regulatory topics such as AML etc.;
- Changing shareholders and directors;
- Structuring and restructuring units and departments;
- Procedures, Manuals and policies drafting, updating and/or redrafting;
- Compliance Monitoring Programme drafting and/or review;
- Evaluation and analysis of systems and controls;
- Adjustments and changes to the organisational structure;
- Reporting to and dealing with the Regulator;
- Assistance and guidance with the preparation of annual/quarterly/monthly reports;
- General strategic advice (related to regulatory matters);
- Onsite inspections;
- Regulatory update notifications;
- Website and marketing material compliance reviews;
- Assistance with updating regulatory Electronic Records;
- Compliance Health Checks and other services.
Legal and Fiduciary Services
We will deal with all the legal aspects of the formation of a company in all jurisdictions offered. These include:
- Incorporation of offshore companies
- Submission of all documents to Registrar of companies and tax authorities where applicable
- Notarization, apostile and legalization of statutory documents
- Provision of nominee shareholders and directors
- Provision of registered office - Preparation of minutes
Secretarial & Administrative Services
The full range of secretarial services is available:
- Day to day company administration
- Preparation and follow up of transfer instructions
- Virtual Office/telephone handling
- Management of all correspondence (handling and writing of)
- P.O. Box Facility
- Fax Service
Virtual office
We are in a position to offer a customized virtual office service which gives the opportunity to an offshore company to minimize costs. This service includes the following:
- Corporate Business Office address
- Business Phone number
- Business Fax service
- Call forwarding
- Voicemail
- Mail collection and forwarding
- Office and conference room facilities
- I.T. services
Accounting & Auditing Services
We take care of all aspects of accounting and auditing including;
- Statutory audit of annual financial statements for submission to authorities
- Preparation of accounting reports to suit your particular requirements
- Preparation and submission of VAT return
- Preparation of financial statements in accordance with international finance reporting standards
- Bookkeeping
International Tax Planning
We advise on the utilisation and benefits of double tax treaties, international trusts, inheritance and estate planning.
We provide assistance to clients with the setting-up process in order to form the right company or trust structure. We can provide a full management service to meet the statutory requirements of that company or structure. We also undertake the administration of the structure on an ongoing basis.
Banking Services
We have formed close relationships with major banking institutions in the jurisdictions offered. The banking services that we offer include the opening of :
- corporate and individual accounts
- deposit and notice accounts
Offshore Trusts and Trustee Services
What is a trust? It is an arrangement by which property is transferred from one person (the Settlor) to another person (the Trustee) who holds the property for the benefit of specific people (the Beneficiaries). The terms and conditions under which the Trustees hold the trust assets are set out in a Trust Deed which also outlines the rights of the Beneficiaries.
Before deciding to set up an offshore trust it is important that you obtain advice and guidance from an experienced consultancy firm to ensure that you create the most suitable trust in the most appropriate jurisdiction to meet your requirements.
Advantages of an Offshore Trust:
-Wealth protection
An effective way to protect ones assets is by creating a Trust., since any assets transferred to a trust are normally no longer considered to be part of the Settlor’s property.
By creating an offshore trust the burden of property ownership is shifted onto the trustee. At the same time the benefit of the property, remains with the beneficiaries.
When a trust is registered in an offshore jurisdiction where the residents of that jurisdiction are excluded from receiving benefit from the offshore trust, then no local taxes are applicable to the assets and income of that trust.
The assets which can be placed into a trust can include anything which can be legally transferred, like:
- Bank deposits
- Securities
- Property (real or intellectual)
- Antiques
- Life assurance policies issued on the life of the Settlor
- Companies
-Tax planning
An offshore trust that is set up and managed in the right way could lead to savings in taxes (income tax, capital gains tax and inheritance tax) .
- Recognised in all common law jurisdictions
- Can be tailored to specific needs.
-Services offered
- Advice and guidance
- Establishment and administration of an offshore trust
- Provision of Trustees and related services
- Accounting and maintenance of asset ledgers
- Reporting and filing required
Permanent Residence Permits
- Cyprus
- Greece
- Hungary