First Resident Ambassador of the Republic of Cyprus in China
His Excellency Ambassador Sotos Zackheos has had a distinguished diplomatic career serving, amongst other, in Moscow, asFirst Resident Ambassador to China, as well as Permanent Representative to the U.N. in Geneva and New York. Until his early voluntary retirement in 2007, he served as Permanent Secretary of the Cyprus Foreign Ministry (i.e. Deputy Foreign Minister).
During his service in China (1989 – 1993), Mr. Zackheos played an important role in upgrading Cyprus – China relations, both in the political sphere as well as in the promotion of economic and trade relations. He had a special role in enhancing relations in the maritime field, through the constructionof a large number of Cypriot flagged vessels in the Shanghai Shipyards as well as the registration of Chinese-interest vessels under the Cypriot flag. Furthermore, through his assistance and encouragement, he helped Cosco and Sinotrans to establish and operate resident offices in Cyprus.
He is currently the Special Envoy (pro bono) of the President of Cyprus on Russia.He is also an Executive Director of RCB Bank, one of the largest systemic banks of Cyprus in terms of assets. He is also the Vice President of the Cyprus-GCC Countries Business Association and Co Vice President of the Cyprus-Qatar Business Association.
He was honored by the Greek Republic with the Grand Cross of the Phoenix and by the Government of Slovenia with the Golden Order for Services in the Diplomatic and International Field. He also received the Man of the Year Award by the Cyprus Hotel Association in 2007. In 2014, Mr. Zackheos was awarded the Honorary Lifetime Achievement Award of the 3rd CIPA (Cyprus Investment Promotion Agency)International Investment Awards.
Local Partner in international business
Through our office S.Zackheos Consultancy Ltd, our goal is to help our clients protect their businesses and minimise the costs, time and effort associated with setting up and operating through Cyprus - thus allowing them to focus on their core business and take advantage of the Double Taxation Agreement between Cyprus and China.
Our Firm focuses on providing company formation and administration services, as well as banking administration services to medium and large companies as well as high net worth individuals operating cross-border.
Structuring through Cyprus, to take advantage of the Cyprus favourable tax regime, provides significant advantages including a corporate tax rate of 12.5%, no tax on disposal of securities, fully exempt profits from permanent establishment abroad (subject to conditions), tax exempt dividend income (subject to conditions), low profit margin for financing companies, no withholding taxes on royalties payable to non-residents, as well as no withholding taxes on payments of dividends, interest and royalties outside Cyprus.
S.Zackheos Consultancy Ltd is licensed and regulated by the Cyprus Securities and Exchange Commission ("CySEC") under registration no. 48/196 to offer company administration and trust services.
Cyprus Citizenship and Permanent Residency
S.Zackheos& Associates Ltd, specializes, inter alia, in immigration services for non-EU citizens. We assist eligible persons who are interested in the various available schemes of receiving Cypriot Citizenship or Permanent Residency by investment. We maintain excellent working relations with government authorities as well as real estate companies, which are key components to the citizenship and residency programs.
We can help interested investors to take advantage of the various new incentives introduced by the Cyprus Government in order to attract investments in real estate. These incentives include exemption from capital gains tax on any capital gain arising upon the future disposal of real estate assets which include buildings, purchased until 31 December 2016. They also include 50% reduced Land Registry transfer fees for properties transferred until 31 December 2016.
Building strategic relationships
Individuals and organisations doing business in Cyprus, as well as abroad, increasingly need to interact with administrative authorities at the local and international level.
Mr Zackheos has a vast experience and maintains a wide network of relationships both in Cyprus and abroad, due to his career of over 40 years in the Cyprus Foreign Ministry and his involvement with the financial sector. Ambassador Zackheos assists individuals and organisations build and maintain the necessary strategic relationships with government authorities, regulatory bodies and business leaders, for the effective implementation of their business plans.
