Tax and accounting regulations
Summary of Requirements for an S.r.o Limited Liability Company:
|Type of Company||S.r.o – Limited Liability Company|
|Timescale to incorporate||2 weeks|
|Double Tax Treaty Access:||Yes|
|Minimum No. Required||1|
|Local Director Required||No|
|Publicly accessible information||Yes, the names of the directors do appear on public record|
|Location of Meetings||Anywhere|
|Minimum No. Required||1, can be a corporate shareholder|
|Publicly accessible information||No, the names of shareholders do not appear on public record|
|Location of Meetings||Anywhere|
|Local Secretary Required||N/A|
|Registered Office Required||Yes|
|Additional Information||A Statutory Representative is required to represent the company. This must be a natural person. Must be appointed in a General Meeting of the company|
|Standard Currency||Czech Crown (CZK)|
|Standard Authorised||CZK 200,000 / €7,500.00|
|Minimum Paid Up Capital||CZK 100,000 / Approx. €3,500.00.|
|Additional Information||The company is required to have a reserve fund (this is principally a bookkeeping entry):
|Accounting & Compliance|
|Requirements to prepare Accounts||Yes|
|Requirement for Audit||Audit is required if at least two of the following criteria are met:
|Local Auditor Required||Yes, if Audit is required|
|Requirement to File Accounts||Yes|
|Requirement to file Annual Return||Yes|
|Bank Account Opening||A bank account can be opened without the need for presence|
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The overseas banking industry is a billion-dollar business. Its no surprise that during the last decade, criminals have discovered ways to circumvent and exploit the system, ultimately giving the offshore world a bad reputation. This article looks at the many benefits associated with overseas banking; and how this has left the industry open to abuse.
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Information on the Payment of Cyprus Taxes for Pensions & Rental Income
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Cyprus Regulatory Update: Shell Company Definition & Exceptions
The Central Bank of Cyprus has released new guidance for all credit institutions on the island, refining the definition for shell companies and subsidiary entities; coming into effect from November 2018, which are detailed as follows:
Singapore Variable Capital Company VCC: New Features & Benefits
The introduction of the VCC is a significant positive for the Singapore funds industry. Its aim is to retain Singapore as an attractive business destination and to keep investors wishing to domicile locally.