Directors of a Cyprus Company - Review of Audited Financial Statements

MANAGEMENT & CONTROL OF CYPRUS ENTITIES

Following a review of a very small audit client I have noticed that the management of the Company comprises of non-Cyprus directors.

First thing that comes to mind is the management and control of the Company as if not by Cypriots / Tax Residents then its Taxable Jurisdiction could be challenged, not by Cyprus, but by the overseas authorities.

Below are review points I have raise to our junior auditor:

Management and Control of the Company

- do the directors reside in Cyprus?

- are they Cyprus Tax Residents?

- are they non domiciled persons?

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