Redefining Cyprus’ Corporate Services Sector

The Aspen Trust Group is one of the leading pioneers of the corporate service industry in Cyprus specializing in International Tax Management solutions for Corporates and HNWIs such as Headquartering, Family Office services, IP registration, Banking and Tax compliance and management of entities globally. “We build long-term, trusted relationships with clients, aiming to add value to their businesses and be part of their success story” said Ms. Marina Zevedeou, CEO of the Group.

One of the many ways in which the Group helps its clients efficiently plan and manage their financials is through the setup and administering of Funds. “Our services include Initial Fund Advisory and Setup, licensing and reporting, bank and other administration, liaison with Investment Fund Managers and Custodian Banks as well as onboarding new Investors” highlighted Zevedeou. “Two decades of working in the corporate services industry have given us a huge tapestry of contacts, especially within the newly-founded Funds industry, with which we cooperate to ensure efficient Fund setup and growth.” Cyprus is an attractive option to foreign investors setting up funds, as it is a strategic jurisdiction which gives them access to European markets.

Moreover, Fin-Tech companies are also very attracted to Cyprus because of its ideal Headquartering and IP benefits. “Cyprus has extremely beneficial incentives within its IP Box, while remaining fully compliant with OECD and EU regulations and ensuring full protection of the IP” explained Zevedeou, adding that the Cyprus IP Box Regime offers an 80% deduction of revenue earned from the use of intangible assets, taxing the remainder at the corporate tax rate of 12.5%, while Cyprus-resident companies can see an effective tax rate as low as 2.5%. As for Headquartering opportunities, Fin-Tech startups and multinationals can meet substance requirements while enjoying the myriad of tax and other incentives that come with a Cyprus Holding Company. “Cyprus is constantly evolving to meet new market demands and make it easier for individuals to do business. For example, with the new Fast-Track Business Activation mechanism, companies can relocate to Cyprus faster than in almost any other country, as these new rules allow them to avoid unnecessary bureaucracy and delays in registration, visa-issuing and relocation permits.” 

Zevedeou was quick to point out the “unrealized” potential of Cyprus as an international film production destination, which is one of the government’s major bets. “Being at the crossroads of three continents, its proximity to diverse cultures and scenery is unparalleled. Its stable sunny weather, internal short distances, and natural beauty make it perfect for filming” said Zevedeou. “Our team can assist in the setup and management of the entity which will apply for the many financial incentives available in Cyprus for film-production companies, as well as prepare all necessary reports to qualify for them, after advising on the best option to meet unique financial needs” she added.

Zevedeou has been working closely with Israeli businesses and individuals for more than twenty years. As such, she has not only gained experience on the specific expectations and workings of the Israeli business world, but has developed a deep admiration of its steadfast, focused drive towards perfection and has herself adopted this mindset for the management of her Group. “Our Group’s core values of honesty, shrewdness and constant drive towards progress are deeply congruent with those of Israel’s business world and this is why so many Israeli corporations and individuals have remained loyal to our Group for many years.”