WTS Cyprus as new member of WTS Alliance

Nicosia/Munich, 07 March 2011 – WTS Alliance, the global network of independent tax consulting firms, announces the admission of a new member, WTS Cyprus. The new addition is focused in the provision of tax services at national and international level.

Established in 2003, WTS Alliance was the first global network of independent tax consulting firms. The Alliance was created by the German company WTS World Tax Service with headquarters in Munich. WTS is one of the largest German tax consulting firms with more than 400 employees. The firm is represented in Germany at six locations extending from Frankfurt through Düsseldorf to Hamburg.

WTS Alliance now has about 30 members and is represented in more than 90 countries with its cooperation partners. The network is undergoing dynamic growth to meet the increasing demands for professional tax consulting from international companies and larger SMEs throughout the world.

WTS Cyprus provides clients with high quality tax and transaction support services, based on the experience and professional background of the partners. The new Alliance member is based in the country’s capital, Nicosia and its client base includes local and international companies.

Cyprus has become firmly established as a highly-regarded, dynamic hub for global business and as a financial and trading platform for international investment.
“The favourable tax system and the benefits derived from the EU membership are an attractive combination”, says Karsten Gnuschke from WTS in Munich. The legal system is also particularly important. It is based on common law, generally applicable in many Commonwealth countries such as Cyprus, with English as its lingua franca.

WTS Cyprus can draw on the experience and specialist knowledge of its management and staff as well as access to the worldwide network of WTS Alliance. The partners have a background in Big Four firms and in publicly listed companies. The firm's key skills include understanding each individual client’s goals while maximising their competitive advantages.

Nicolas Kypreos from WTS Cyprus: “Cyprus is firmly established as a reputable and dynamic international gateway for business, financial and commercial investments into or from Europe, the CIS, India, China and the Middle East. It is a low tax jurisdiction but – as it is in full compliance with the EU Directives and OECD guidelines on harmful tax practices – is not a ‘tax haven’. It is the preferred jurisdiction for a prestigious, tax efficient presence, offering unique business opportunities for investors and international businesses.”

Contact Details
WTS World Tax Service Cyprus Ltd.
14, Pireos Street, 1st Floor, CY-2023
P.O.Box 28887, CY-2083, Nicosia, Cyprus
T: +357-22028700, F: +357-22028709
E: nicolas.kypreos@wtscyprus.com
W: www.wtscyprus.com

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Press contact

Florian Kestler
Business Development & Marketing
Thomas-Wimmer-Ring 1
80539 Munich
Phone: +49 (0)89 286 46-1565
Fax: +49 (0)89 286 46-2323
Email: presse@wts.de

Information on WTS Alliance
WTS Alliance is a global network of selected tax consulting firms and is represented in more than 90 countries with its cooperation partners. Since its foundation in 2003 WTS Alliance is regarded as a trendsetter in cross-border tax cooperation. WTS Alliance is coordinated by the German WTS AG Steuerberatungsgesellschaft, which created this network seven years ago. For the acceptance of new members WTS Alliance has imposed strict selection criteria. In autumn 2010 the members improved their uniform market presence by founding the WTS Alliance Association.
For further information: wts-alliance.com

Information about WTS
WTS is an international consulting company with the divisions “Tax” and “Consulting”. The focus of the tax division lies on tax consulting for multinational corporations, national and international medium-sized companies as well as private individuals and non-profit organizations. In the business fields Investment Tax Law, M&A, Private Clients and Non-Profit Organizations, WTS has recently been able to expand the range of our services significantly. With regard to the consulting division, WTS specializes particularly in financial advisory as well as national and international accounting services. Employing more than 400 people and having representations in over 90 countries, WTS ranks among the major international tax consulting companies. WTS solely offers tax and business services consulting without auditing services in order to avoid any conflict of interest between consultancy and audit.