Group Profile

Leaders in the Provision of
      … a FULL range of International Professional Services
            … in a number of jurisdictions 
                  …to a Global Clientele

Click Here for a Presentation of the FBS International Group as broadcasted by Fox5 New York News Channel to 25 million business viewers.

“FOCUS BUSINESS SERVICES (FBS) KOTSOMITIS” is a well-known and established international professional services group-network with over with officially licensed and regulated member / partner firms who have substantial presence in:

• the UAE – Head Office (Scroll below to see details of our Local Network Member Firms)
• Cyprus
• Malta
• The Seychelles
• Greece and
• the UK

We note that the Global Head of The FBS KOTSOMITIS Network of Companies, Mr. Aris Kotsomitis, is personally a founder and main shareholder of almost all of our member / partner firms. This unique advantage is undoubtedly a guarantee of an integrated, seamless quality of service across jurisdictions setting us apart from the competition.

Group-Network services / service lines and locations

• international tax planning and corporate structuring (Mr. Kotsomitis – our Chairman and resident in Dubai as the UAE Head Office Partner – personally attends to this service line)
• asset protection advice (Mr. Kotsomitis – our Chairman and resident in Dubai as the UAE Head Office Partner – personally attends to this service line)
• wealth management (Mr. Kotsomitis – our Chairman and resident in Dubai as the UAE Head Office Partner – personally attends to this service line)
• business consulting and advisory (the Advisory Service Line is centralised in our UAE Offices)
• company and trust formation in the UAE (Dubai and Ras Al Khaimah) – Head Office (not trusts for UAE), Cyprus, Malta, The Seychelles and the UK by our officially licensed and regulated local member / partner firms
• bank account opening and operation in the UAE (Dubai and Ras Al Khaimah) – Head Office, Cyprus, Malta by our officially licensed and regulated local member / partner firms
• management services in the UAE – Head Office (Dubai and Ras Al Khaimah) , Cyprus, Malta, The Seychelles and the UK by our officially licensed and regulated local member / partner firms
• corporate services and administration in the UAE – Head Office (Dubai and Ras Al Khaimah), Cyprus, Malta, The Seychelles and the UK by  our officially licensed and regulated local member / partner firms
• accounting, tax, audit in the UAE – Head Office (Dubai and Ras Al Khaimah – note NOT audit / tax in the UAE) , Cyprus, Malta, The Seychelles and the UK by our officially licensed and regulated local member / partner firms
• a wide-range of other business support services (including but not restricted to IT, Web, Virtual Offices, Serviced Offices) in the UAE – Head Office (Dubai and Ras Al Khaimah) , Cyprus, Malta and the UK
• Services as above … in other jurisdictions are also FULLY supported by our international professional associates in Belize, BVI, Channel Islands, Hong Kong, Switzerland, Singapore, Lichtenstein and other jurisdictions.

Global Head of the FBS KOTSOMITIS Group – Network:

Aris Kotsomitis BSc FCA CPA TEP MoID

Founder and Main Shareholder of FBS KOTSOMITIS Network Regulated Local Offices in UAE, Cyprus, Malta, Seychelles, UK and Greece.

FBS UAE – Resident Managing Director of the UAE Office and Head of Corporate, Management and Business Consulting Services in the UAE (Dubai and Ras – Al – Khaimah).

FBS INTERNATIONAL – Global Head of Advisory – International Tax, Asset Protection, Wealth Management and Business Consulting Service Lines.

Aris’s Profile

Aris is 46 years old and has close to 24 years experience in the international professional services sector. He is recognized as one of the leading international tax, asset protection and wealth management experts in the EU and is a member of a number of local and international professional bodies – associations including:

ICAEW– The Institute of Chartered Accountants of England & Wales

ICPAC – The Institute of Certified Public Accountants of Cyprus

STEP – The Society of Trust & Estate Practitioners

IFA – The International Fiscal Association

and others

Aris is a graduate of The London School of Economics (UK) and a Royal Commonwealth Scholar. Following his graduation he proceeded to complete his articles with a London Big-4 firm when he attained membership to the The Institute of Chartered Accountants of England & Wales (ICAEW).

After 7 years, he left the UK to move to Greece where after a year of service at The Bank of Cyprus in Greece as Head of Regulatory Compliance he moved on to PricewaterhouseCoopers where he served as a Senior Manager at the Corporate Finance Dept.

For a period of 2 years he was dealing with the tax and advisory aspects of regional cross-border transactions, heading a team of 20 professionals.

In 1998 he set up the Focus Business Services Group and Network of Companies in Cyprus and specialized in providing international tax advice and setting up tax structures for a significant number of international clients.

In 2005 he setup the Seychelles operation and in 2010 the Group’s Malta operations (fully licensed providers).

In 2013 he took up residence in Dubai to head the Group’s / Network’s UAE offices in Dubai and Ras Al Khaimah. Nowadays he spends his time mostly between the UAE (55%), Cyprus (35%) and Malta (10%).

In his high school years, Aris was awarded the first Commonwealth Scholarships by the Queen of England for outstanding academic achievement.

Aris is a professional of considerable business acumen and although primarily an international tax expert with a specialisation in European and International tax and asset protection structures and a HNWI wealth manager, he has solid “all-round” experience in a number of areas such as law, accounting, auditing, banking (including treasury), corporate finance and management consulting. Such knowledge is of paramount importance when helping clients identify key issues in complex cases and assessing the “total impact” of a given set of actions.

His interest and his expertise is in the areas of wealth management, international tax planning – structuring, corporate law and asset protection and in particular all matters relating to the structuring and operation of international holding, finance, royalty, investment, asset protection and trading structures through European, UAE and other  entities in various jurisdictions worldwide.

 FBS: Cyprus Local Member Firms

The Focus Business Services Group (actually established under this trade name in 1998) combines many years of relevant sector experience and is headed by Aris Kotsomitis, who is recognized as one of the leading tax advisors in Cyprus.

Our main activity is setting up and operating Cypriot corporate structures for international clients seeking to legally optimise their tax position.

Our group is highly responsive, competent, focused exclusively on international clients and international corporate structures with rendered professional services covering the entire spectrum needed by international clients (legal, tax, accounting, auditing, comprehensive corporate services – incl. “substance” and “management and control” services).

We are providing services covering ALL professional work required for the formation – setup stage (formation, bank account opening, tax and VAT registrations) AS WELL AS for the routine ongoing maintenance and proper operation and compliance of the company (accounting, bookeeping, tax. audit, administration, statutory books maintenance, nominee services, management services etc.).

FBS is a totally independent, recognized and well-established provider of Cyprus Tax Advice, Company Formation, Trust and Corporate Services, rendered exclusively to international clients.

We are essentially “Cyprus Tax Services – Cyprus Company Formation – Cyprus Corporate Services Specialists” [However, apart from Cyprus and via correspondents, we also fully service a select number of other jurisdictions (offshore and onshore – such as the UK, BVI, Seychelles and others) and provide specialized international tax advice].

FBS is also one of the leading Cyprus firms providing Cyprus and International Tax Advice in the Greek Market. Notably, it is a member of the Board of Directors of The Cyprus – Greece Business Association, the largest business association on the island and part of the Cyprus Chamber of Commerce & Industry.

Additionally, our Chairman and a number of our professional staff enjoy full membership status in local and international professional bodies – associations. Indicatively, our memberships include:

ICAEW– The Institute of Chartered Accountants of England & Wales, ICPAC – The Institute of Certified Public Accountants of Cyprus, CBA – The Cyprus Bar Association, STEP – The Society of Trust & Estate Practitioners, IFA – The International Fiscal Association, AOA – The Asia Offshore Association and others.

We operate mainly via an international network of professional intermediaries, but we also provide our services directly to final clients internationally – individuals, companies, multinational corporations and financial institutions.

Download here our Company Brochures:

Strategy, Focus & Core Values

FBS is focused on the International Client or Associate seeking consistently high responsiveness and quality of service.

Our Motto

“We perform serious professional work (our services), performed by serious and professional people (our professionals) for serious and professional people (our clients & associates). At the same time, we strive to balance professionalism with the promotion of long-term, friendly and informal relations between us and our clients.”

…and in order to live up to the goal of being very professional and at the same time very friendly and personable, we did not use models for our website – all photos on this site are of our real managers and staff who volunteered for the task!

Our Strategy

Focus On…
Cyprus Tax
Core Corporate Services
Client Confidentiality
Consistently High Responsiveness & Quality of Service

…To Achieve Our Strategic Goal of
Building and Maintaining a Strong Worldwide Network
Of High-Calibre Associates & Final Clients

This strategy has so far been successful. Over the years we have managed to become widely recognized as a reliable provider of the “Cyprus Element” to international tax structures recommended – set up by international tax planners and advisors, for their clients.

Focus … on the Professional

In terms of our Professional Intermediaries’ Network, we have a clear and committed strategy of:

• “Zero conflict of interest” with members of Our Network.  Ultimately, we consider clients referred to us by professional intermediaries as their clients and not ours.
• Avoiding expansion (opening own offices or offering “local services”) in countries where we maintain a network (i.e. countries outside Greece or Cyprus), again to avoid conflict of interest issues.
• Focusing mainly on Cyprus Tax Services, Cyprus Company Formation and Cyprus Corporate Services, leaving room for the intermediaries to provide all other advice (services). Essentially, in the usual case, FBS provide only the “Cyprus or Cyprus-related Element” to your international tax planning clients.
• Avoiding the provision of other “peripheral services” such as Asset Management and other Financial Services, Real Estate, Information Technology, etc., so we can maintain a “sharp focus on our core activities” and avoid conflicts of interest issues.
• Maintaining a professional attitude, focusing on “flawless execution” of our Core Services.

Chairman’s Welcome

First allow me to welcome you to the 2006 version of our website which is the fourth version since our first version was launched in 1998. In this site you will find useful information for your purposes. This site was prepared for the use of our clients, existing and potential, and members of the Focus Business Services Network of Professional Associates. It is primarily intended to highlight the uses of Cyprus Entities in order to obtain tax or non-tax benefits, Cyprus’ position as an International Business and Financial Centre (“IFBC”) and to explain why and how one should invest via Cyprus.

The present time, known as the “post – EU accession era”, is an important milestone in Cyprus’ successful 30-year history as an International Financial and Business Centre (IFBC).

Since 1 of January, 2003, with the abolition of the “offshore regime”, Cyprus has put a simplified, effective and transparent tax system in place. Its tax system is fully EU, OECD, FATF and FSF compliant. Cyprus is now an EU, “non-offshore”, low-tax jurisdiction with exciting tax planning potential for EU and non-EU clients alike.

Cyprus’ new tax system obtained “the official stamp of approval” from the above-mentioned organizations, it has been operating for over 3 years (3 amending laws, the last one in November 2004), and has become a stable and successful tax system. After all, Cyprus has been renowned for its stable tax legislation and tax practice, as well its professional and investor-friendly Tax Authorities.

The Netherlands, Luxembourg, Switzerland and other “classic” European Jurisdictions now face a new outstanding competitor. In the Post-EU Accession era, we are seeing more and more clients preferring Cyprus to other traditional jurisdictions. That is not to say that other “classic” jurisdictions have lost their appeal.

Sometimes however, depending on the facts of the particular case, best results can be achieved by combining Cyprus with other jurisdictions, such as The Netherlands or Luxembourg, rather than by substitution (the substitution of Luxembourg by Cyprus being the most frequent case).

Restrictions concerning maximum allowable percentage participation, as well as minimum monetary level of foreign investment in any enterprise (legal entity) in Cyprus, were also lifted from January, 2000 for EU citizens and from October 1, 2004 for non-EU citizens. Now, Cyprus’ Investment Policy allows 100% foreign participation in Cyprus Entities in almost all sectors of the economy not only for EU citizens, but also for investors from third countries.

Exciting tax planning opportunities are presented in the following areas (you are also encouraged to contact us directly so we can further address your specific needs):

• Cyprus’ Tax Regime in general, with its wide, expanding and extremely beneficial Network of Double Tax Treaties (especially beneficial are those with Russia, Eastern Europe, and the Middle East) and access to the European Directives (Parent-Subsidiary, Interest and Royalty, Merger Directives transposed into local tax law).  It is no exaggeration to say that there are no activities that a Cyprus Entity is not suitable for.
  
• Cyprus International Trading Structures: Used for triangular trade, receipts of commissions, joint ventures particularly in Russia & Eastern Europe, and etc. These are classic structures used for over 30 yeas by foreign investors.
  
• Cyprus Holding Company Structures – indeed Cyprus can now claim a very successful and beneficial holding company regime.
  
• Cyprus (Group) Finance Companies and Royalty Routing Company Structures
  
• Nominee / Undisclosed Agency Structures: Often involves a Cyprus Company acting as an agent of an overseas principal (e.g. a Seychelles IBC), usually for transactions outside Cyprus  – a Cyprus (EU) face with a very low tax burden, often significantly lower than 10%!
  
• UK Companies that are Tax Resident in Cyprus (via their management and control effected by a Cyprus Registered Branch and the employment of the appropriate provisions of the UK – Cyprus Double Tax Treaty and UK and Cyprus Tax Legislation) and taxed on their worldwide income in Cyprus – a UK face with a low Cyprus tax burden (10% corporation tax on worldwide taxable income, which with proper tax structuring could effectively be significantly reduced further).
  
• Cyprus Non-Resident Companies: Cyprus Companies not managed & controlled in Cyprus and not taxed for their non-Cyprus income in Cyprus (i.e. effectively with 0% Cyprus tax) but, as non-residents, cannot enjoy the benefits of the Double Taxation Treaties of Cyprus.

Included in this site are also a summary of Cyprus’ tax and other incentives, a review of the types of activities that can beneficially be carried out through Cyprus Legal Entities, detailed tax information sections, comprehensive details of the legal forms available to conduct business and their registration process, as well instructions for the formation of a Cyprus Limited Company.

Information about our Group, our Services, the Jurisdictions we specialize in, popular tax structures used by clients and fee schedules; as well as an invitation to a confidential meeting at our offices or in your country/city and an invitation to join our Professional Intermediaries Network (if you are a professional) are to be found in this site.

The information contained herein is based on information and tax practice available as of April 2005.

This site is aimed for general guidance only and cannot substitute proper professional advice. Focus Business Services and its affiliated companies cannot be held liable for any action or business decision taken solely on the basis of the information of this site.

My colleagues and I will be happy to provide you with any further information you may require.

Aris Kotsomitis
Chairman – Focus Business Services (Cyprus) Ltd.

Services & Approach

We are essentially “Cyprus Tax Services – Cyprus Company Registration- Cyprus Corporate Services Specialists”.

Cyprus Tax Services includes both tax advice and compliance, as well international tax advice related to the use of Cyprus Companies and other Cyprus Entities in international tax structures, on their own or combined with entities resident in other offshore and/or onshore jurisdictions.

Cyprus Corporate Services includes Representation and Trustee Services, Company Secretarial and Legal Services, Administration and Professional Services, Accounting; Tax & Audit Services and Banking Support Services.

However, apart from Cyprus, we also fully service a select number of other jurisdictions (offshore and onshore – such as the UK, BVI, Seychelles and others) and provide specialized international tax advice.

In addition, as official introducers of major banks, we offer bank introduction – bank account opening services in Cyprus, Luxembourg and Switzerland for individuals, companies and other legal persons of any nationality or jurisdiction.

Please note that proper due diligence and “know-your-client” procedures are followed by our firm in providing its services, as provided by Cyprus and EU Law.

Summary List of Services:

Detailed lists of our services are to be found in the section named “Services”. Please feel free to contact us if you have any questions relating to any of our services.

Become an Intermediary

The majority of our clients have been referred to us by our worldwide network of high-calibre professional intermediaries such as specialized lawyers, tax consultants, accountants and other professionals.

Typically, FBS is the provider of the “Cyprus Element” to international tax structures recommended – set up by international tax planners and advisors – for their clients.

For more information about our professional intermediary network please visit the dedicated part of the site named “Become an Intermediary”.

Membership Application.pdf

Client Profiles

Broadly, Our Services are aimed at the following types of clients:

• International Trading (import, export, commissions receipts) & Marketing and Distribution Companies
• Companies effecting Real or Financial Investments Internationally
• Holding Companies
• Royalty, Patent & trademark companies
• (Group) Finance Companies
• Real Estate Companies, Engineering & Construction Companies
• Banks & Insurance Companies
• Shipping Companies, Ship Management & Maritime Operations
• Internet & E-commerce Companies
• Leasing Companies
• Printing & Publishing Companies
• Headquarter Companies
• Administration & Treasury Management Units
• Employment Companies & Executive Recruitment Companies
• Financial Services Companies
• Expatriates orking, living or retired overseas
• Professional Services Companies
• High-Net Worth Individuals
• Many other types of clients with an intention to legally mitigate their tax liabilities
  and / or protect their assets.

Contact one of our officers to initiate the incorporation of a Cyprus registered company and start reaping the full benefits of an onshore, low-tax, EU jurisdiction. Simply fill in the contact box below or contact us by email on enquiries@fbscyprus.com

• Founder’s Profile
• Our Offices
• Memberships & Partnerships