The document provides an overview of ICC Group, a company formation and business support services provider established in 2000. ICC Group has offices in Cyprus, Greece, and the United Arab Emirates and provides services such as company formation, accounting, banking, and advisory services to help businesses set up and operate globally. The document describes ICC Group's services and presence in key jurisdictions like Cyprus, Greece, and the UAE, highlighting advantages such as tax benefits and legal frameworks.
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ICC Group was established in 2000
in Cyprus. Over the years the Group
expandedbothlocallyandinternationally
having physical presence, apart from
Cyprus, in Greece and in United Arab
Emirates (UAE).
Despite our growth, the focus on all customers
remains at the heart of ICC business philosophy.
We managed to become big enough to deliver,
while at the same time small enough to care and
value our client relationships.
OVERVIEW With a dedicated and qualified team,we specialize
in formation, compliance, advisory and support
services for businesses, providing local and
international clients with a one-stop shop concept
of convenience and peace of mind setting up and
doing business globally.
Our aim is to build a lifetime relationship with
our customers by ensuring that they receive the
highest quality service each and every time they
interact with us.
We assist our clients comprehensively in all
stages of a business lifecycle, from the formation
of a company, to ongoing support and statutory
compliance up to the dissolution of a company.
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OUR SERVICES
ICC Group provides a wide range of services such as company formation, tax &
corporate planning, accounting, payroll and VAT, corporate advisory, provision of
corporate offices, secretarial services, bank accounts etc. It serves companies that
operate around the globe including Cyprus, Greece, United Arab Emirates, United
Kingdom, Malta, Singapore, Belize and Hong Kong.
Our services can help companies of all sizes, whether a company wants to globalize,
or whether it needs support to streamline existing operations.
Company Formation
We have more than 15 years’ experience in
company formation and company maintenance
worldwide. Formation of a Company is an
important decision and before doing so,a number
of factors need to be considered. The most
important one is how the company is planning
to be used i.e. as a Trading company, Holding
company, Property Investment Company?
Nominee Services
Nominee service is an intermediary ownership and management tool, meaning the appointment to
official positions in the company (director, secretary), or as a shareholder, nominee persons, both
physical and legal.
Other factors that need to be ascertain are:
• How the Company will be structured
• Safeguarding of assets
• Reduction of Operational costs
• Management of Risk
• Anonymity
• Double Taxation Treaties of the chosen
jurisdiction
• Political stability
• Country risk
• Level of professional services
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Nominee Director
A nominee Director is a third party, physical or
legal, who is nominated to act as a director in a
Company.A Nominee Director Service Agreement
has to be signed prior to the appointment of the
Director which will define in detail the duties
and/or limitations of the Nominee.
Nominee Shareholder
A nominee Shareholder is a third party,physical or
legal, who is holding shares and other securities
on behalf of the actual Beneficial Owner (s). The
Nominee Shareholder does not actually own
the shares and/or the securities and the actual
Beneficial Owner (s) is entitled to all income and
capital gains derived from the shares and/or
the securities. A Declaration of Trust has to be
signed between the Nominee Shareholder and
the actual Beneficial Owner(s). The Trust will be
kept in the Company’s Registered Office and will
not be public record.
Company Secretarial Services
In today’s complex environment with constant changes in regulations and greater demands for
transparency, the Company Secretary’s role became very demanding and time consuming.
The duties of a Company Secretary are different in every country due to the different regulations and
statutory requirements in place. Our local teams have detailed knowledge of the regulations and can
deliver efficient and reliable Company Secretarial Services in every jurisdiction we operate.
Bookkeeping, Accounting & Related Services
ICC Group experienced personnel ensures the understanding and the needs of each client in order to set
up the appropriate accounting structure. We have the knowledge to provide the appropriate accounting
and reporting services in every jurisdiction that we operate.
The Accounting Services Provided Include the Following
• Maintenance of proper accounting records
• Accurate and comprehensive bookkeeping
services
• Invoicing services as per clients’ instructions
• Payroll services including registration to the
relevant Government Authorities
• Preparation of management accounting
reports (monthly, quarterly, half yearly, yearly)
• Preparation of financial statements in
accordance with IFRS (International Financial
Reporting Standards)
• Preparation and submission of VAT & VIES
declarations
• Preparation of annual tax computations
• Bank account management
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Opening Bank Accounts
The opening of a bank account, personal or corporate, is sometimes tricky and time consuming. In some
jurisdictions the physical presence of the owner is mandatory whereas in some other jurisdictions
no physical presence of the account owner is required. We ensure you that we can make the whole
procedure from being tricky, extremely straight forward and efficient.
Virtual Office
Our Virtual Office service provides you with a local point of contact for your customers and all the
benefits of a permanent office without the need to actually be there. Our services can be customized
in order to fit each clients’ business needs and budget. The virtual office option provides significant
savings and flexibility compared to renting a traditional office space.
Our services include the provision of a Registered Office, phone forwarding, call answering, fax number
and meeting room support.
Corporate Finance
Acquisitions & Disposals - Provide assistance in all stages of acquisitions from identifying acquisition
targets to integrating the businesses successfully. Also, assistance in all stages of disposals from
identifying buyers to selling the business successfully.
Financial Restructuring - Identify the company’s financial needs and provide assistance in obtaining
finance from various sources (e.g. banks, angel investors, venture capital firms) for existing businesses
or new ventures.
Strategy Development & Implementation
Strategy Development - Deliverables include a Strategic Plan with specific goals, and a Project Plan for
monitoring progress. Strategy Implementation - Deliverables include a Project Plan, Progress Reports
on a monthly basis and implementation of the company’s strategy.
Re-organization and Performance Improvement
Performance Improvement - The areas analyzed for increasing revenue include the internet presence
of the client as well as his organization in the areas of sales and marketing. The areas for reducing costs
are focused on the operation of the supply chain. Based on the results of the diagnostic study, the areas
for improvement are assessed and prioritized. Then, with our assistance, the company implements the
changes required in order to achieve its profitability targets.
Corporate Restructuring - Based on the strategy and the objectives of our clients, we recommend
a new detailed organizational structure. Additionally, we assist our clients by participating in the
implementation of the new structure. Deliverables include a new organization chart with key positions
and job descriptions and assistance in the implementation phase.
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CYPRUS
Cyprus is located in the north east of the Mediterranean where Europe, Asia and Africa meet. Its
location has played a vital part in its development as a center for finance and tourism. Spread over
9251km², Cyprus is the third largest island in the Mediterranean, behind Sicily and Sardinia. With a
population of approximately 850.000, 80% of Cyprus’ population is Greek Cypriot, 11% are Turkish
Cypriot, 8% are foreign residents and a further 1% is comprised of other small minorities. Since
2004, Cyprus is a full member of the European Union and adopted the Euro on 1st January 2008.
Economic Structure
The economy of Cyprus can generally be characterized as small, open and dynamic, with services
constituting as its engine power. After joining the European Union in 2004, the economy has undergone
significant economic and structural reforms that have transformed the economic landscape.
Cyprus economy is dominated by the services sector where tourism and financial services accounting
for nearly 75% of the country’s’ €17.4 billion GDP.
Legal Framework
As a former British colony, Cyprus law is based on English Common Law which was amended in recent
years to meet European Union requirements
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The Cyprus legal framework is extremely strong. It provides, however, foreign business a familiar and
reliable framework to operate.
The country’s legal and regulatory system is considered to be one of the most favorable in Europe and
is fully compliant with the EU, the Financial Action Task Force on Money Laundering (FATF) and the
Organization for Economic Co-operation and Development (OECD).
Tax Framework
Cyprus can be categorized as a premium corporate tax planning jurisdiction providing a simple, effective
and transparent tax regime that is fully compliant with the EU laws and regulations.
The tax framework provides numerous advantages for both individuals and corporations.
Cyprus Corporate Tax Highlights
• Corporation Tax rate, currently at 12.5%, is one
of the lowest in European Union
• Taxable losses can be carried forward for
5 years
• Investment income from dividends is tax free (0%)
• Profit on sale of shares, bonds, debentures and
other titles is tax free (0%)
• Group relief provisions allow, subject to certain
conditions, companies of the same group to
transfer tax losses from loss-making group
companies to profitable group companies
• Extensive double tax treaties – Cyprus has
double tax treaties with over 50 countries.
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United Arab Emirates (UAE) is a federation of seven emirates which were united on 2nd of December
1971. The Emirates are Abu Dhabi (the capital and territorially the largest), Dubai, Sharjah, Ras Al
Khaimah, Ajman, Um Al Quwain and Al Fujairah. United Arab Emirates area excluding the affiliated
isles amounts to 83.600 Square Kilometers. Despite its small size, the UAE has become an important
player in regional and international affairs. There are over 200 different nationalities residing in the
UAE making it one of the most culturally diverse countries in the world.
Economic Structure
The UAE has an open economy with a high per capita income and a sizable annual trade surplus.
Successful efforts at economic diversification have reduced the portion of GDP based on oil and gas
output to 25%. Since the discovery of oil in the UAE more than 30 years ago, the country has undergone
a profound transformation from an impoverished region of small desert principalities to a modern state
with a high standard of living. The economy of the United Arab
Emirates is the second largest in the Arab world (after Saudi Arabia), with a GDP of US$570 billion (AED
2.1 trillion) in 2014.
UNITED ARAB EMIRATES
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Legal Framework
The UAE federal constitution provides for an allocation of powers between the federal government and
the government of each emirate. Dubai is subject to the federal law of the UAE but retains the right
to administer its own internal affairs and enjoys certain other exclusive rights. Dubai’s legal system
is founded upon civil law principles (most heavily influenced by Egyptian law) and Islamic Sharia law,
the latter constituting the guiding principle and source of law. In Dubai and other civil law jurisdictions,
legislation tends to be formulated into a number of major codes providing for general principles of law
with a significant amount of subsidiary legislation. The influx of regional and international commercial
enterprises to Dubai and the UAE over the last 30 years, has resulted in an expanding and increasingly
comprehensive body of federal legislation being established in the form of federal codes of law. In 2011
the UAE Federal Cabinet has approved a new Company Law that paves the way for more relaxed foreign
ownership above the existing ceiling of 49 percent in the future. In addition, the new law allows for a
simplified process of starting a business in the UAE and strengthens protection of shareholders.
Tax Framework
There are no taxes levied by the Federal Government on income or wealth of companies and individuals.
An income tax decree has been enacted by each Emirate, but in practice, the enforcement of these
decrees is restricted to foreign banks and to oil companies. Investment laws, regulations and incentives
are continuously improving to encourage further foreign investment. This includes the introduction of
foreign ownership of land and stocks – Dubai became the first emirate within the UAE to open its
property market to foreign ownership, followed by Abu Dhabi.
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Our priority is always to putting our clients first, a fact that has always been a part of ICC’s rich history.
Our goal is to build a long-term relationship with our clients, based on commitment, professionalism
and quality.
Our client base ranges from traditional small sized business to large corporations and wealthy
individuals and their families.
Our clients come from all sectors of business and industry including pharmaceutical, property, finance,
investments, energy, consumer electronics etc.
We always do our utmost to achieve the goals of our clients through:
» Special attention and personalized support
» Exceptional service
» Experienced consultants who work closely together with our clients and can provide them
with sound and impartial advice
» The confidence that we are doing everything to protect our clients’ interests
We will be pleased to discuss with you how ICC can help you achieve your goals and expectations. We
look forward to hearing from you.
OUR CLIENTS
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We warmly invite your enquiries
We would welcome the opportunity to assist you.
Call or email us today for a no obligation
free discussion about your requirements.
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CYPRUS
Head Office
UNITED ARAB EMIRATES (UAE)
Dubai Office
ICC Investment & Consulting Services Ltd
17 Megalou Alexandrou Street
2121 Aglantzia, Nicosia, Cyprus
Correspondence address:
P.O.Box 28558, 2080 Nicosia, Cyprus
Tel: +357 22 490909
Fax: +357 22 518484
Email: info@iccgroup.com.cy
Web: www.iccgroup.com.cy
1Sovereign FZE
Amenity Center, Tower 1
Floor 3 – Office 24, Ras Al Khaimah UAE
Correspondence address:
P.O.Box 214837, Dubai, United Arab Emirates
Tel: +971 72068885
Email: 1sovereign@iccgroup.com.cy
Web: www.iccgroup.com.cy
At ICC Group we treat our clients with courtesy and integrity.
We give the same attention to all clients,
no matter how large or small they may be.
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