Eltoma Corporate Services was established in 2004 by highly qualified finance and corporate management professionals. Our head office is located in Limassol, Cyprus and our three other offices are located in Moscow, Singapore and Hong Kong. We aim to provide all our valued clients a personal, cost effective and efficient service.
Although Eltoma Corporate Services has significantly grown over the years we still retain our core values of professionalism, cost efficiency and personal service.
Our company philosophy is simple:
Eltoma creates practical solutions to ensure that our client’s requirements are satisfied.
By understanding our clients financial and business requirements Eltoma Corporate Services can provide the correct advice and foundations on which to build their company. We help our clients create and develop their business in a cost effective manner ensuring the best return on their capital. We are fully committed to our clients and provide a personal service with dedicated resources to help every step of the way.
Eltoma Corporate Services treat each client as an individual, taking time to understand the business of our clients and their aims and objectives in order to provide long term security by providing the right solutions from the outset.
Interview with Dmitry Kucheryuk:
1. What are your medium and long term goals?
It is quite difficult to make long term plans right now, due to markets becoming increasingly volatile, and many changes happening in corporate tax and AML legislation creating an additional burden on the industry and changing the industry’s landscape.
At Eltoma Corporate Services we are making medium term plans in order to ensure a sustainable development of the business during a very turbulent time.
We see Eltoma Corporate Services as a well-balanced business offering a wide range of corporate services at consistent prices which are calculated using a standardised benchmarked performance. In order to achieve this, we are expanding our product portfolio and market presence with our clients in mind in order to identify and satisfy their needs in an enriched way. Eltoma Corporate Services is directly present in Cyprus, Russia, Singapore and the UK. Further expansion will be in Ukraine, Hong Kong and Dubai. It allows covering the major jurisdictions actively used in international tax planning and business structuring. Our product range covers incorporation and maintenance of a legal entity, non-aggressive tax planning and structuring, bank account opening & maintenance, bookkeeping in accordance with IFRS standards, management consultancy, HR services, IT services and implementation of business packages, etc. There are plans to add Trustees and other business lines in the not so distant future.
2. How have you reacted to market changes in the last few years?
Eltoma Corporate Services consider market challenges to be new opportunities which allow the company to grow and expand against all odds of deterioration in market conditions. The cost of business has risen due to the increased cost of compliance which the company has had to partially absorb. In order to balance rising costs, ECS is tightening control over operation costs and services supplied by overseas services providers.
An overall drop in industry size was balanced out by paying more attention to existing clients allowing us to retain the same level of business as in previous prosperous years.
We are an extremely dynamic and flexible organisation which is constantly monitoring changes in the market and making steps to adjust its operations in order to catch and follow the market trend. Our management system is based on managing business via Key Performance Indicators (KPIs). This helps to keep the team motivated and delivering results. The use of KPIs gives flexibility for choosing and readjusting to a direction with the best mobilisation and application of available resources.
3. How do you hope to stand out from competition throughout 2015?
Eltoma Corporate Services believes in providing personalised customer care, diversifications in product portfolios and geographical presence; cost control, team work and continuous professional development; having a strong and committed management team, a focused marketing approach and orientation towards delivering results. A combination of the specified points allows us to stand out from our competitors.
4. What is your management structure and how do you consider it to add value to your output?
Eltoma Corporate Services is practicing an open management style. Our management structure is horizontal, for example our Managers don’t have individual offices and share an open office space with team members. Managers are considered as team leaders providing support and coaching to junior team members. An open office space is encouraging and facilitates communication between members of a team.
During the preparation of annual budgets, Managers contribute their market estimations and make expectations. Budgets are created on a departmental level with the department and its Manager being evaluated on a six month basis. Special attention is paid to Management Information System (MIS) reporting. Managers receive their departmental profit & loss accounts in order to prepare their analysis on actual results rather than budgeted performance.
Bi-annual KPI performance reviews and appraisals are one of the fundamental parts of the Eltoma Corporate Services management system. This allows for the establishment of formal and informal communication between management and subordinates on all levels. Feedback received during the appraisal process is used to make necessary changes and adjustments to all planning, evaluation and operations to ensure quality of service, as well as effective and efficient operations.
5. Why do you think your company has the edge of over others?
Eltoma Corporate Services has made pleasing progress over last few years. We started from a small office based in the Old Town of Limassol and expanded to Singapore, Russia and the UK. Our staff members are capable of handling complex tasks and delivering results according to clients’ expectations. Eltoma Corporate Services is adhering to the ethical code of business conduct in every jurisdiction of operation. Our management team is confident in the future of the company, as it was built and developed using a balanced approach as well as the right business fundamentals.