1 | O u r P h i l o s o p h y … ” C u s t o m e r ’ s S a t i s f a c t i o n ” !

2 | O u r P h i l o s o p h y … ” C u s t o m e r ’ s S a t i s f a c t i o n ” !

CYPRUS FACTS

CONTENTS

Cyprus Facts | 02

About our firm | 03

Our services | 04

Citizenship | 05

PR VISA | 06

TR VISA | 07

CY Company |08

While in Cyprus |11

3 | O u r P h i l o s o p h y … ” C u s t o m e r ’ s S a t i s f a c t i o n ” !

Overview

Cyprus is a well-developed country that enjoys a perfect geographical location. Surrounded by three

continents, Europe, Asia and Africa, it rises up the fact that business people and individuals can enjoy

travel as well as business opportunities the country is offering. The climate of Cyprus is considered to

be among the best in the world, while the life in all cities is characterized by its cosmopolitan touch

and high standard facilities.

European Cyprus, a modern destination for all people offers great business opportunities as well as

company taxation advantages. The safe environment, along with the political and economic stability

of the country create the feeling that Cyprus is a unique and ideal business and residential destination.

340 SUNNY DAYS

EURO CURRENCY

1.2 m POPULATION

EU MEMBER

1ST SAFEST COUNTRY IN <5M POPULATION

STABLE POLITICAL

ENVIRONMENT

4 | O u r P h i l o s o p h y … ” C u s t o m e r ’ s S a t i s f a c t i o n ” !

About our firm

Forsat is an international prestigious firm located in Cyprus offering a range of services to its reputable

clients. The company is registered in the Republic of Cyprus with Registration No. HE 352406.

Additionally, Forsat Advisory & Associates Ltd is a member of various Business Associations in Cyprus.

Our office is ideally located in Nicosia business centre in Makariou Avenue.

The primary services offered are citizenship by investment, residency schemes and corporate services.

The firm’s primary target is to offer the best possible solutions at the best possible price. That is why

a tailor-made package for every individual is what we recommend.

Forsat was established on the premise of delivering value to its customers, and this has been our goal

through the years. With this goal in mind, we aim to expand our business relations and associates in

various economic sectors to ensure that we can cater to our customer needs.

FACTS ABOUT US

➢ Almost 2 decades in local and international business

➢ Well worth local and international associates

➢ Fast and accurate result

➢ Trust and secrecy

➢ Large number of satisfied clients

➢ Well established brand name

➢ Most services under one roof

5 | O u r P h i l o s o p h y … ” C u s t o m e r ’ s S a t i s f a c t i o n ” !

OUR SERVICES

Our group of associates consists of experienced auditors, Cypriot lawyers, tax planning experts and

business advisors for accomplishing successfully the services below.

➢ Having a 2nd passport or obtaining permanent residency in the European part of Cyprus is

always a tricky procedure. Forsat & Associates provides the best possible solutions with

competitive fees in accordance with the client demands for citizenship and residency schemes

for Cyprus.

➢ Forsat is specializing in providing assistance on company formations in a number of

jurisdictions as well as provision of fiduciary and other relevant services. Our experienced

team of professionals can assist you through the process of registering a Company in Cyprus

or in other jurisdictions.

➢ The latest department of the firm is as we call it “While Living in Cyprus” planning department.

Our customers while are coming to Cyprus for either business reasons or for reside in the

island they do arrive with their families. They do require specialized services. As an office we

are able to simplify these types of needs and being next to our client.

OUR AREA OF EXPERTISE

➢ Citizenship by investment schemes

➢ Cyprus permanent residency

➢ Investment planning within Cyprus

➢ “While Living in Cyprus”

➢ Cyprus company incorporation

➢ Accounting and auditing

6 | O u r P h i l o s o p h y … ” C u s t o m e r ’ s S a t i s f a c t i o n ” !

Cyprus Permanent Residency scheme

The Cyprus PR program offers non-EU nationals guaranteed permanent residency within 1 to 2 months

through a real estate investment of €300,000. PR applies to the investor, spouse and dependent

children up to age 25 and the parents of the applicant and spouse. This scheme lets all the nationalities

obtain PR in Cyprus without language proficiency, education background and medical tests.

FINANCIAL CRITERIA:

➢ Purchase a new residential Property with the value of at least €300.000 (+VAT)

➢ Provide a declaration with supporting documentation of a secured annual income from a

legitimate source, driving from outside Cyprus. The minimum annual income per applicant is

€30.000 (+€5.000 for every dependent person – spouse and children – and €8.000 for every

dependent parent or parent-in-law)

➢ A statement of deposit must be provided showing a €30,000 minimum deposit in a Cypriot

bank account of the applicant, which will be locked for a period of 3 years. After the expiration

of this period the money will be released without restriction.

OVERVIEW OF THE PROGRAM

TIME TO PR

2 Months

TIME TO

CITIZENSHIP

7 Years

ELIGIBILITY

All Nationalities

RESIDENCY REQ.

1 Day every 2 years

FAMILY

Investor, spouse,

dependents up to

age 25 & parents

TAX CONSEQUENCES

None

7 | O u r P h i l o s o p h y … ” C u s t o m e r ’ s S a t i s f a c t i o n ” !

CITIZENSHIP BY INVESTMENT IN CYPRUS

Cyprus is a very well respected European member state in eastern Mediterranean. The country is a

major hub for international trade and Cyprus is a full EU member country. Cyprus Government has

established a number of incentives to attract foreign direct investment into the country. In 2017, the

Government of Cyprus made changes to the citizenship-by-investment program in Cyprus. One of

these is a citizenship-by-investment program that grants full Cypriot citizenship to those that invest

more than EUR 2 million in real estate and who meet certain other requirements. Successful

applicants gain the right to live, work and study in all 28 EU member countries.

PROGRAM OVERVIEW

TIME TO

CITIZENSHIP

3 Months

DUAL

CITIZENSHIP

Permitted

RESIDENCY OR

LANGUAGE REQ.

None

FAMILY

TAX

CONSEQUENCES

Investor, spouse, dependents up to

age 28 & parents of main investor

None

EXIT

STRATEGY

3 Years

ELIGIBILITY

All Nationalities

VISA-FREE

TRAVEL

152 Countries

8 | O u r P h i l o s o p h y … ” C u s t o m e r ’ s S a t i s f a c t i o n ” !

FINANCIAL CRITERIA:

Eligible persons who meet one of the following financial criteria may apply for the acquisition of the

Cypriot Citizenship:

➢ Investment in real estate, land development and infrastructure projects of at least €2m

➢ Investment in financial assets of Cypriot companies or organizations of at least €2m

➢ Investment in Alternative Investment Funds or financial assets of Cypriot companies/

organizations that are licensed by the Cyprus Securities and Exchange Commission of at least

€2m

➢ Combination of the above criteria, which can also include investment in government bonds

of up to €500.000

CYPRUS CITIZENSHIP BENEFITS

Work and Study

with NO

restrictions

Travel work

and study in all

Europe

100%

shareholder in a

company

Cyprus

Passport

ranked 14th in

the world

Visa free for

152 countries

9 | O u r P h i l o s o p h y … ” C u s t o m e r ’ s S a t i s f a c t i o n ” !

CYPRUS COMPANY

Cyprus is considered as an established, trust-worthy and reputable business and financial centre. The

Island currently presents a number of opportunities to international investors and business people.

The Republic of Cyprus became a full member of the EU on May 1st, 2004.

➢ On 1st January 2008 Cyprus joined the European Union and adopted its official currency the

Euro.

➢ Cyprus Companies are taxed at the flat rate of 12,5% on their taxable income.

➢ Wide network of Double Tax Treaties

➢ EU Directives are available

➢ Strong political and economic relations with the major economies of the World such as the

Russian Federation, China, India, USA and the UK.

➢ Excellent Accounting, Legal and Banking Services

The main structures useful to the investors who are willing to invest to Cyprus or through Cyprus are

the following:

The Cyprus Holding Company

➢ Finance Company

➢ Intellectual Property Company

➢ Trading Company

ADVANTAGES OF CYPRUS COMPANY

➢ 12,5% corporate tax on trading profits

➢ No withholding tax on outward payments(Dividends-Interest-Royalties)

➢ No participation exemption and no holding period exists.

➢ No CFC rules

➢ No thin capitalization rules

10 | O u r P h i l o s o p h y … ” C u s t o m e r ’ s S a t i s f a c t i o n ” !

➢ Capital gains from the sale of immovable property situated outside Cyprus is tax exempt

➢ Taxable losses carried forward indefinitely; from 2012, a temporary limitation of five years is

introduced in the tax

➢ system under which, losses will be allowed to be carried forward for offsetting future taxable

income, for a period of five years from the year to which the profits relate.

➢ Capital gains on sale of securities: 100% exemption unless immovable property in Cyprus is

involved

➢ Group relief availability (75% holding)

➢ Tax free re-organizations (cross border permitted)

➢ Foreign PE profits exempt

➢ Tax free corporate re-domiciliation permitted

➢ Possibility for establishing an SE (European Company)

➢ Applicability of all EU directives

➢ Extensive Double Tax Treaty network

➢ Advance ruling practice exists

➢ Easy to open bank account worldwide on the Cyprus company

➢ Secure destination for holding of investments, assets, intellectual property etc.

EU Member Pro-business

Government

English speaking

workforce

HIGHLY FAVORABLE TAX REGIME

Modern banking

& legal system

12.5%

Corporate

Tax rate

2.5%

Intellectual

Property Tax

Rate

0%

Tax on

sales or

shares

0%

Tax on

dividends to

shareholders

0%

Inheritanc

e tax

Over 50

countries DTT

11 | O u r P h i l o s o p h y … ” C u s t o m e r ’ s S a t i s f a c t i o n ” !

Accounting, Audit & Assurance, Taxation

Our experienced accounting, Auditing and technical staff along with associates can perform day to day

support in the preparation of accounting records in accordance with the relevant regulatory body

requirements as well as international finical reporting standards. Our services include:

ACCOUNTING

➢ Maintenance of the general ledger

➢ Reconciliation and analysis of bank accounts

➢ Preparation of management accounts and other reports

➢ Conversion of overseas GAAP accounting records to IFRS accounting records

AUDIT & ASSURANCE

➢ Assistance in the preparation of Financial Statements in accordance with international

Financial Reporting

➢ Standards (IFRSs)

➢ Issuance of Audit reports in accordance with International Standards on Auditing (ISA)

➢ Assistance in the preparation of Consolidated Financial Statements in accordance with IFRSs

➢ Evaluation of internal controls and procedures and reporting on any deficiencies

TAXATION

➢ Personal & Corporate Tax Services

➢ Registration with the Cyprus Tax Authorities

➢ Preparation and submission of tax computations and returns

➢ Obtain Tax Residency Certificates and Double Tax Treaty Certificates

➢ Liaise with the Cyprus Tax Authorities on any matters or disputes which may arise.

INTERNATIONAL TAX PLANNING

➢ Use of Cypriot and other jurisdictions’ companies in multinational tax structures

➢ Use of Double Tax Treaty provisions on capital movement, fees collection, royalties, interest

and dividends.

➢ Obtain tax rulings from the Commissioner of Income Tax to ensure the effective use of

companies within group structures.

12 | O u r P h i l o s o p h y … ” C u s t o m e r ’ s S a t i s f a c t i o n ” !

‘While living in

Cyprus’

‘Create a friendly environment

for the client’

It is a customer-oriented

department introduced by our

office. We tried to develop a

personal approach towards

our clients through the daily

routine while we manage their

basic technical services.

Working with international clients for many years and gaining experience, we concluded that, clients

mostly need help in small details for the everyday living. For instance, how they will get along during

their stay in Cyprus, rather than provide to them information that are too technical and not been very

useful ‘while living in Cyprus’.

Customer satisfaction is a matter of foremost importance to us. Our target is, the client to be happy

even after we finish our engagements and the technical assistance.

With the goal of maximizing customer satisfaction in mind our firm established a professional network

based on accommodation, educational institutions (schools, colleges, Universities) for children and

adults, guidance and providing information for the basic needs of the clients and also for medical

insurance policies. For more information, you can visit our website www.forsatadvisory.com and as

well as www.edu.forsatadvisory.com and read in detail about these customer-oriented services in 4

different languages Greek, English Farsi and Arabic.

Our services

Find a suitable accommodation for rent or purchase (Not from specific developer).

Home for each and every individual is a matter of great importance. Facilities of the house should

match the client’s needs. Our experience justifies the fact that the location of a house or business,

plays a major role for the everyday satisfaction of the client. It should match with the ideal for the

clients’ location.

Medical insurance assistance

Basic medical insurance is required by the migration. However, clients might need extra medical

insurance in order to cover fully their needs and feel secure for their own medical issues. Our office is

working with the reputable insurance providers in Cyprus and France.

13 | O u r P h i l o s o p h y … ” C u s t o m e r ’ s S a t i s f a c t i o n ” !

Assisting in Transportation.

In Cyprus the main transportation is a private car with the option to hire or buy. For both options we

can provide solutions through well-established associates in the island.

Assist in bank issues and explain how banking system works.

Banking system is an important factor for both investors and business people. Apart from the fact that

our company can assist in bank account opening, we remain at your disposal to assist you in safe

everyday interaction with your bank to avoid making costly mistakes in both time and money.

Educational services

There are numbers of well-established educational institution from Primary school to universities and

medium to luxury facilities, which give the chance to everyone from all over the world to apply and

continue their education in a safe and disciplined country.

Education is the number one matter that troubles families going abroad. Our office manages to

become an official representative for almost 90% of the educational institutions in Cyprus in order to

be able to provide these services to clients.

➢ Assisting clients to choose the right education center based on their needs

➢ Assisting in documents preparation before or after arrival

➢ Assisting in accommodation (dormitory or private accommodation)

➢ After arrival services for the students including Airport pickup, Medical tests, Bank account,

Utility procedures (Electricity or water authorities) varies from country to country. We can

make necessary arrangements on behalf of the client prior to their arrival to avoid any

inconvenience. (if applicable)

➢ Assisting in registration and long-term student visa

➢ Information about supermarkets, shops, restaurants based on the clients’ certain

requirements, places of interest are some of the information given before or after arrival.

Moreover, our team can consult and assist in medical and life insurance which are required

from the migration.