We have always had an international focus.

Our client list comprises of many international clients and spans the entire range of enterprises from prestigious groups to the young enterpreneur just starting out in business; from small professional firms to multi-million management buyouts.Together with our BDO colleagues in their countries we offer them a range of services - throughout Europe and around the world - which matches that provided by any of the largest professional firms.

An ever-increasing number of western companies are expanding their activities across their borders. Their success depends on obtaining timely and relevant information regarding the market in which they wish to expand. On the other hand, organisations operating in countries which are relatively less stable and with limited resource capital markets (such as Eastern Europe and the Balkans) experience difficulties in realising their growth potential. They are not in a position to expand their activities or create optimal structures as they lack access to cross-border markets and international finance.

During the past twenty years, Cyprus has established itself as a major financial centre for inward investments in central and eastern Europe. This is due to an excellent infrastructure, geographic location, strong cultural links and last but certainly not least a comprehensive treaty network with all the major countries in the region. It is no wonder that Cyprus tops the country lists for inward investments in Russia, the Ukraine and other central and eastern European countries.

Few treaties in the world have lower withholding tax rates for dividends and interest than the Cyprus treaties. In the case of Russia, for example, none of its other treaties provide for lower rates when taking into account the Cyprus corporate tax rate. Royalties, interest and payments to Cyprus entities would ensure minimum overall taxes – both withholding and at Cyprus level. Further, the profits can either be accumulated in Cyprus or be reinvested within the group or be paid as dividends without any additional tax.

The exemption from tax of trading and capital gains made by a Cypriot holding company from the sale of securities and shares in foreign subsidiaries creates a clear advantage over traditional European holding company regimes. It is an additional bonus and opportunity for many international investors.

We at BDO Ltd assist businesses moving in all directions. This is in fact a significant portion of what we do in Russia and the CIS. We have been performing work in east and central Europe for more than fifteen years. We have advised businesses entering east European markets and in many instances east Europeans on their expansion plans into Europe and the USA, Canada etc. We consult companies to re-organise their business, create tax efficient structures, perform audits, business plans and bring to them our knowledge of different business environments.

The Balkans have traditionally been characterised by turbulence and political uncertainty. Tied to this, the development of economies in the region has remained stagnant for some time. The political changes which we witnessed in the last twenty years have improved the business environment and recently there are clear signs of development and growth. They are opening their doors to foreign investment, introducing reforms and tax incentives for local and foreign businesses, are eager to participate in international forum and eventually obtain EU accession.

Our aim is to provide clear, concise and practical advice with tangible benefits for our clients. Our partners take a hands-on approach ensuring that the key business issues, concerns and objectives are properly addressed. To achieve this we have developed a number of specialisations specifically for these markets and draw heavily upon the expertise of local BDO colleagues.