Profel Ltd. – financial advice from a team of professionals
"Whatever the reason for purchasing property, buyers should always seek sound financial and legal advice to ensure their purchase goes as smoothly as possible," explains Andreas Koumenides, the managing director of Profel Ltd., a Cyprus-based advisory firm which provides legal and financial advice to anyone buying property in Cyprus; and tax optimisation services to anyone purchasing property in any of the countries with which Cyprus has a double tax treaty agreement as given in the table below:
| Armenia | India | South Africa |
| Austria | Ireland | Sweden |
| Belarus | Italy | Syria |
| Belgium | Kuwait | Tajikistan |
| Bulgaria | Kyrgyzstan | Turkmenistan |
| Canada | Malta | Thailand |
| China P.R | Mauritius | United Kingdom |
| Czech Republic | Moldova | United States |
| Denmark | Norway | Uzbekistan |
| Egypt | Poland | Yugoslavia |
| France | Romania | Germany |
| Russia | Greece | Slovak Republic |
| Hungary | Singapore | |
Please note that management and control in Cyprus is a prerequisite for obtaining advantages under Cyprus double tax treaties because, only in such cases is the company treated as resident of Cyprus for treaty purposes.
Profel Ltd. is comprised of a team of UK and US trained solicitors and accountants based in Nicosia, Cyprus, licensed to practise in their respective professions in Cyprus, the UK and the US. The company specialises in the provision of services to international clients in the areas of tax optimisation and asset protection.
"We pride ourselves on providing excellent professional services," says Mr. Koumenides. "Our main objective is to provide a high level of service to all of our clients, whether they are private individuals, established companies, or new businesses. In this way, we work hard to help them meet their goals and achieve any business objectives they may have."
Profel Ltd. offers a wide range of services including assistance with obtaining a mortgage from a local bank for up to 70% of the value of the property (in some countries, including Cyprus, Greece, the UK and Russia) and help with opening a bank account and obtaining credit cards from Cyprus-based banks.
"We appreciate the fact that one of the main financial concerns of those looking to purchase property overseas is to do with the issue of tax. That’s why we offer assistance with tax optimisation, to ensure that when the time comes for buyers to sell their property, we can work together to minimise the capital gains tax they have to pay," explains Mr. Koumenides.
As a way towards ensuring asset protection, Profel Ltd. offers trustee services. Trusts have been used for centuries for a wide range of purposes, including estate planning and the tax-efficient holding of assets.
"Establishing a trust has many potential benefits for private individuals and families, including the protection of assets from appropriation in politically unstable countries; avoidance of forced heir-ship provisions; the consolidation of widely-dispersed assets; legitimate tax mitigation; and taxation deferral," says Mr. Koumenides.
"Our trustee services are in place to assist anyone thinking of purchasing property because we want to offer our clients all the assistance we can in order to help them make sound, well-informed decisions in relation to their property purchase."
Click here to contact Profel Ltd.
Click here to read more about the business.
© PropertyIndex.com 2007 | Last Updated: 28 November 2007