Launch of Grant Thornton Cyprus China Desk

With the booming Chinese economy, Chinese enterprises and individuals are gradually going outward, looking for expansion internationally. Europe remains an extremely attractive market for such an expansion. The uniquely strategic geographical location of Cyprus, its favourable tax regime, excellent business environment and its EU-harmonized legislation rightly make it the golden gateway to Europe for Chinese investors. Grant Thornton Cyprus, one of the leading accounting and advisory firms on the island, has formed a service focused on helping Cypriot and Chinese companies tap into each others markets. The service provides assistance to Cypriot businessmen looking to launch or to enhance their activities in China, as well as to Chinese companies and individuals looking to take advantage of the many advantages offered by Cyprus as a stepping stone to Europe and further afield. As explained by Stavros Ioannou, Managing Director of Grant Thornton Cyprus, China will soon overcome the US as the worlds biggest economy. There are tremendous opportunities for Cypriot businesses looking to source or export to China or to seek investors. Similarly, as outbound investment by Chinese companies and individuals is growing, we need to put Cyprus on their map for international tax planning. Through its Chinese staff, the China Desk can offer insights into working with the Chinese and has developed in-depth understanding not only of doing business but also of the business culture in modern China. In a close cooperation with the Chinese member firm of Grant Thornton International, it can assist in such matters as: market and feasibility studies cross-border acquisition services assistance with joint ventures and strategic alliances due diligence and public reporting accountant services assurance and business risk management services assistance and advice on obtaining residence permits in Cyprus tax planning and transfer pricing studies and IPO-related services.

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Please also refer to the relevant publications on our website for more details. For further consultation or a request for a meeting, please contact our nearest office:

NICOSIA Stephen Michaelides & Zhe Qiu 41-49 Agiou Nicolaou Street Nimeli Court Block C 2408 Engomi, Nicosia P.O Box 23907, 1687 Nicosia Cyprus T + 357 22 600000 F + 357 22 600001 E stephen.michaelides@cy.gt.com E zhe.qiu@cy.gt.com

LIMASSOL Augoustinos Papathomas 10 Filiou Zanettou Street 3021 Limassol P.O.Box 55299, 3820 Limassol Cyprus T + 357 25 878855 F + 357 25 344425 E august.papathomas@cy.gt.com W www.gtcyprus.com

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