We set out with a vision turned it into our goal and. this is Abacus. the leading International Business Advisors in Cyprus

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3 We set out with a vision turned it into our goal and m a d e i t o u r wa y of li fe this is Abacus the leading International Business Advisors in Cyprus

4 Discover the Abacus difference We started with a vision to do things differently! We wanted to be independent and conflict-free, and constantly question, challenge and transform outdated business models. We are not, and do not strive to be, the largest professional services firm measured by number of offices or professionals. Our goal is to be the firm of choice for clients with respect to their most challenging compliance issues, most significant international business transactions and most critical tax planning and corporate structuring needs. We are an amazing crowd of visionaries and doers, striving to systematically create value for our clients, our employees and our society. We are Abacus! Our present Just over 10 years after the spin-off from PwC, Abacus is today a prominent professional services firm in Cyprus and the leading provider of International Business Services in the fields of corporate structuring, business advisory, accountancy, fiduciary, and corporate administration to clients worldwide. With headquarters in Nicosia and over 150 exceptional employees from 20+ countries, we serve an impressive roster of multinational private, public and listed corporations and high net-worth individuals from over 40 countries, including several Fortune 100 companies and some of the world s most recognizable names. Our clients, for which we are extremely proud, represent a broad range of industries including financial services and investments, oil and gas, aerospace & defence, engineering, construction & real estate development, telecommunications, metals and mining, energy, pharmaceutical research and production, manufacturing, banking, media & entertainment, marketing and retailing. Our slogan What do we mean by World Class Player? Enter the world of Abacus Our story The story began in April 2001, when a team of 26 partners, managers and staff from PwC set out to create an independent, conflict-free firm with a different, very unique service proposition. We started with a strong ambition to bring more to the table for our clients and employees. Forged and rooted in the fundamentals, we took accounting and international business services to a new level and went about things a little differently. We mean being the standard of excellence in our market, our industry, in every single thing that we do. To be the standard of excellence is a vision and a journey for Abacus, not a destination. It is and will continue to be our engine for success and catalyst for positive change In times of increased regulatory pressure, heightened compliance risks and complex industry dynamics, we did not lose sight of what matters most. To stay on top of these broad and expanding challenges, Abacus chose to be agile, offering customised solutions as unique as each client. When you start with edge-of-your-seat listening and maintain a watchful eye on the horizon, you can t help but be a professional services firm that s forward thinking and fully engaged with its clients. The result is a whole-business approach that really works. You'll find that your expectations from Abacus are only limited by the scope of your imagination. 2 3

5 For us, World Class Service means The service you need the way you need it. It means that we constantly delight our clients and exceed their expectations. It is our ultimate, overriding goal in everything we do and will always be the heart of our relationship with our clients. We define World Class Service as an on-going journey toward service excellence. World Class Service challenges us to consistently reset the high bar of our performance levels to meet or exceed the expectations of an ever-morecompetitive marketplace. For the selected clients we accept, we engage work teams to provide high quality and immediate service with highest confidentiality and protection of client assets being the top objectives in our work. To achieve these objectives, our work teams undergo an on-going professional training program and are structured in a way to facilitate immediate response to any client request under a strict internal control system. At the same time, our work approach is such as to add value to our clients best interests by advising as necessary on day to day matters arising from a client s business or requests relating to local legislation, local compliance, legal and tax planning matters. world class service We do more than talk theory So you can do more with your ideas And your business can do more than you thought possible 4 5

6 Advisory Services tax planning corporate structuring local regulations and legal compliance liaison with local regulators services Trust Services Our specialist trust services group will undertake with complete confidentiality the formation and administration of a Cyprus International Trust which includes: Provision of corporate Trustee Provision of Protectors Advising on family asset protection and inheritance issues Administering trusts involved in employee bonus schemes Opening, administering and monitoring all bank accounts Liaising with fund managers for the operation of investment accounts Maintaining good title of real property Making distributions to the beneficiaries Maintaining Trust s accounting records Accounting Services Our team of professionally qualified accountants will undertake accounting and specialised financial management work whether it be day to day support in the preparation of accounts or company compliance with regulatory reporting obligations. Our services include: Maintenance of the general ledger Maintenance of proper books and records Reconciliation and analysis of bank accounts Preparation of management accounts Conversion of accounts in accordance to IFRS Preparation of annual financial statements Preparation of consolidated financial statements for groups of companies Preparation of annual tax computations Preparation and submission of provisional tax declarations and payment of taxes Company Formation Our specialists in the Corporate Secretarial department will undertake the incorporation of a company, complying with the applicable legislation and best corporate practice to suit our clients needs and requirements, in jurisdictions all around the world, including: Cyprus British Virgin Islands Cayman Islands Channel Islands Seychelles Mauritius United Kingdom Netherlands Austria Company Administration We provide a complete range of administration services for our clients day to day operations. Our experienced staff are trained to respond immediately to client requests and provide flexible, prompt and professional solutions to all issues. Our services include: Opening and monitoring bank accounts Provision of bank signatories and processing and execution of bank instructions Preparation, review and execution of agreements Handling correspondence with third parties and various authorities Monitoring local compliance with statutory requirements and filings Issue of sales invoices and collection of receivables Arranging for legal opinions or other legal work where necessary Attending meetings and carrying out negotiations on behalf of clients Coordination of business processes such as audit, tax advice and VAT work Assistance in listing companies to a recognised stock exchange Assistance in applying for and obtaining business licences such as investment licence from the Cyprus Securities and Exchange Commission Arranging for registration of trademarks or trade names Arranging for bank credit cards or applications for bank financing Assistance for setting up a fully-fledged office in Cyprus Assistance in obtaining work permits for expatriate Employees 6 7

7 Establishment and Administration of Private Cyprus ICIS (International Collective Investment Schemes) and Foreign Funds. Incorporation of the entity Assistance with the preparation of the M&A Completion of Application documents Review of agreements Assistance with the Information Memorandum Follow up the processing of the application Administration of the Fund Secretarial support Accounting work Arranging for legal support and external audit Corporate Secretarial Our highly qualified and technically experienced team will provide ongoing corporate secretarial support and compliance services such as: Maintaining and safekeeping the statutory records and registers of the company Maintaining in safe custody the common seal of the company Preparing the minutes of the directors and shareholders meetings Preparing the Annual General Meeting of the Company Preparing the Annual Directors Report to accompany the financial statements Preparing and filing the company s annual return Issuing and safekeeping of share certificates Arranging for legalisation and certification of documents Arranging for the increase or decrease of the company s share capital Assisting in the compliance of the company s Memorandum and Articles of Association with relevant shareholder agreements and legislation Registering company pledges Undertaking company searches and due diligence Issuing of powers of attorney Communicating with the Registrar of Companies for all necessary submissions of forms and requests for certificates Providing full support to clients during acquisitions, take-overs or mergers and company disposals Fiduciary The Fiduciary part of our work is by definition our strictest controlled service area with extremely tight internal controls and defined authorisation processes to ensure the full protection of our clients interests and assets at all times. Our firm offers the following Fiduciary Services: Appointment of Corporate Directors Appointment of Company Secretary Provision of Registered Office Provision of Nominee Shareholders Appointment of Bank Signatories Members Voluntary Liquidation A members voluntary liquidation is the legal procedure where the members of a company decide to dissolve it. Abacus will undertake the appointment of the liquidator on behalf of the shareholders and will carry out the entire liquidation process including: Informing the Registrar of Companies that the company has been placed into members voluntary liquidation Advertising in an international newspaper for possible claims against the company Settling all company creditors including any taxes due Preparation of statement of dealings during the liquidation period Distribution of surplus assets to shareholders IT Support Services In a fast changing technological world, we believe that the support of our clients with regard to PC, networking, infrastructure and software issues is essential. The highly skilled staff in our IT group will provide support in the handling of the following issues: Solutions to generic problems both in hardware and software Installation of hardware and/or software Solutions to networking problems Solutions to web related problems Active directory Backup Consultancy Servers environment Microsoft critical security upgrades for workstations and servers Payroll Services For our clients that maintain their own offices with staff in Cyprus, our specialist payroll group will undertake with complete confidentiality the entire payroll function which includes: Registration of company and staff with the Income Tax Office and Social Insurance Department Processing the company s monthly payroll Ensuring monthly payment of salaries, taxes and social insurance contributions Submission of relevant reports to necessary recipients Preparation and submission of monthly and annual tax returns Escrow Agents Abacus may act in the position of escrow agent between third parties which require such trustworthy agent as part of a legitimate asset exchange transaction. With our independent and fully professional status, Abacus can offer 100% reliability and trustworthiness for such a sensitive position, taking absolute care of the parties assets and ensuring crystal-clear procedures during the discharge of our responsibility as escrow agent. Our rates for such service are extremely competitive and we have so far acted as escrow agents in several transactions with assets ranging in value from 10 million to 400 million. Banking Services opening and monitoring bank accounts provision of bank signatories processing and execution of bank instructions arranging for bank credit cards or applications for bank financing Shipping Registration and deletion of Ships under the Cyprus flag Maintaining statutory compliance of Ships with the Department of Merchant Shipping in Cyprus Renewal of Ship s Radio Licence Obtain exemption certificates where applicable Assist in the registration / deletion of mortgages on vessels Handling the issue of seafarers books and endorsements of COC of officers, serving on Cyprus Ships by the Cyprus Authorities Acting as agents of non-cyprus resident Ship Owners for the registration of vessels under the Cyprus flag Concierge Services A part of our comprehensive client support service, Abacus can provide concierge assistance to existing clients on a complimentary basis. Some of the services we can offer are: Hotel Bookings Car and Limousine Rental Boat and Yacht Chartering Airport Transportation Sightseeing Tours Bookings for Restaurants and/or Events Translations Visa Support It is our pleasure to offer any other assistance or support to any of our clients visiting Cyprus, either on business or pleasure, alone or with their families, so as to make their stay on our island as easy and enjoyable as possible. 8 9

8 our secret is our people Many businesses say the key to their success is their people. At Abacus, the key to our success is our satisfied people. We don t just promise to offer worklife balance, bigger challenges and opportunities to grow. We deliver it. We ve worked hard to put plans into action that allow for our team to enjoy healthy work parameters in an inclusive, progressive and flexible environment that values individual and collective contributions of all of our people. We are tireless over-achievers. We embrace the rigors of problem solving. We are smart and intuitive and always curious. We are enthusiastic fans of ambition and passionate about helping people realize their personal and professional aspirations. We are invested in those who help us achieve our goals and always strive to demonstrate our appreciation. We are a family of people with diverse interests. Among us are musicians, philanthropists, fishermen, equestrians, pet devotees, amateur bowlers, cricket lovers, military history and poetry enthusiasts. We have colleagues from over 20 countries, including South Africa, UK, US, Poland, Russia, Ukraine, Albania, Germany, Australia, Malta, Romania, Bulgaria, Ireland and Greece. Together we are Abacus! We are extremely selective about the kind of people we want to join our team. We are looking for the right fit. Service-minded. Savvy. Driven. We want forward thinkers who are able to look beyond textbook accounting rules and standards and creatively apply them to a client s unique business situation. Our collaborative culture means we work together... to support you Every year, we invest more than ever in our people to raise service quality levels even higher. The industryleading levels of client and employee retention prove that we are realising the desired return on our investment. Abacus is also one of the very few independent organisations in Cyprus who have been awarded with the Platinum Employer accreditation from ACCA

9 our clients relationship of trust Abacus services clients from all over the world, covering business activities across all sectors. Our clients comprise a range from high-net worth individuals to the largest multinational heavyweights. Our client service philosophy is that every client counts in its own right. There are no small and big clients for us. For every single client there is a dedicated team of people structured so as to pay maximum attention to all requirements and to respond immediately to any request. Our business objectives are long-term geared. As such, we focus on supporting our existing clients and growing with them. We do not seek uncontrolled expansion or growth for its own sake. We prefer to maintain continuous client service and quality at the highest level. We do more to customise our solutions to your needs So you can do more to develop your business And your business can do more to be the best 12 13

10 corporate citizenship Abacus does not consider corporate social responsibility as a mere philanthropic gesture or a marketing necessity. Being a good corporate citizen is part of our identity and is mirrored in the way we manage our business. Not only do we acknowledge and respect the values of social responsibility but also find practical ways to act upon it by contributing time and money to relevant pursuits. 2009/2010 Gold Sponsors and long-time supporters of APOEL FC, the most prominent football club in Cyprus and the country s top ambassador in European football. In seasons 2009/2010 and 2011/2012, the team played in the group stages and round of 16 of UEFA Champions League. APOEL played against teams like FC Porto, Atletico Madrid, Chelsea FC, FC Zenit, FC Shakhtar and FC Lyon coming away with a number of wins and other remarkable results. sponsorship Abacus community efforts also extend to sponsorships of sporting, cultural, and thought leadership activities through both financial and partnership support. Abacus has always supported local sports and will continue doing so. Sponsorship is all about passion, collaboration and commitment, that s why it fits so perfectly with the Abacus values

11 truly international truly professional truly world class Offices Nicosia - Headquarters Elenion Building, 5th Floor, 5 Th. Dervis Street, CY-1066 Nicosia, P O Box 25549, CY-1310 Nicosia, T Limassol Arianthi Court, 2nd Floor, 50 Agias Zonis Street, CY-3090 Limassol, P O Box 56183, CY-3305 Limassol, T