A business seminar organised by BKR member firms, namely Euroglobal S.E.E. Audit Limited (Nicosia) and Fucik & partneri (Prague), entitled “Investment Projects Using Cyprus Companies”, was held at the President Hotel in Prague on Thursday, 17th June, 2010.
Mr. Jiri Sebek, the Chairman of the Czech-Cypriot Chamber of Commerce, opened the event by welcoming the participants, mainly businessmen from the local community, and providing a general overview of the Czech Republic.
The first topic “Cyprus Companies – Legal Framework” was presented by Mr. Angelos Theodorou from Euroglobal. He focused on the procedure for incorporating companies, the tax regime for corporations and individuals and the accounting and audit requirements which companies are obliged to follow.
A guest speaker from Eurofast Taxand Ltd., Ms.Phani Tillirou, presented the second topic, “Investments in and out of the Czech Republic”. Ms. Tillirou discussed the avoidance of double taxation and the favourable tax regime in Cyprus which offers tremendous possibilities for tax planning. After the coffee break Ms. Tillirou continued with a number of case analyses on cross border transactions via Cyprus, emphasizing the use of Cyprus companies in international structures.
The final presentation was given by Mr. Ivan Fucik from Fucik & partneri, who gave practical recommendations on creating business structures from a Czech perspective.
After a Questions and Answers session, which concluded the event, the participants attended a delicious lunch, where they had the chance to discuss the various topics presented during the seminar with the speakers.
The seminar was a great success and was enjoyable and useful for all the participants. It was also a wonderful opportunity for BKR members to work together and promote BKR International as well as their individual firms.