CYPRUS BUSINESS ENVIRONMENT AT A GLANCE INTERNATIONAL FINANCIAL REPORTING STANDARDS
Cyprus company’s should fully comply with the IFR’s
Non consolidation provisions in the local law giving parameters for small group providing exemptions from consolidation;
IFR’s giving a consistent platform of comparing financial statements for further analysis;
Providing to the financial statements an international recognition and credibility.
Requiring very good understanding from the Management and Auditors;
Formation of Cyprus IBC
Cyprus maintains and enhances its competitiveness as a reputable international financial center and distinguishes itself from the infamous tax heavens.
Advantages of Cyprus IBC
Read further advantages for the formation of International Business Companies in the island of Cyprus.