1) Country targeting; developed, high-tax countries
First of all, we identify countries where we think there could be demand for our international tax advisory services. These are typically well-developed, high-tax countries, where it seems to make sense to move operations abroad to low-tax jurisdictions such as Cyprus, or to set up a foreign holding company in order to obtain tax reduction, tax deferral etc.
 
2) Tax research; access to the most important tax databases in the world
We have access to the world’s most reputable and trustworthy tax databases, from which we retrieve all the relevant information on the tax systems of the target countries in question. Besides, we are on a regular basis updated on relevant global tax developments by affiliated service providers all over the world. By means of these research tools, we investigate the various target countries’ tax systems.
 
3) Preliminary conclusion; in most of the cases we conclude that the use of Cyprus companies can bring significant tax savings to tax-payers in the country in question.  Obviously, we do not want to waste our time, and we certainly do not want to waste your time. If it appears that, for whatever reason, it is not opportune (yet) to approach the country in question, because of identified adverse tax consequences that could arise locally (at high-tax level) from the use of Cypriot companies (e.g. because of the “blacklisting” of Cyprus in the countries in question), we decide not to approach this market. However, in many cases we come to the conclusion that the use of Cypriot companies can entail significant tax savings to tax-payers in the target country.
 
4) Report; tax models
If our conclusion is positive, we prepare a report in which we include tax-planning schemes, involving the use of Cypriot companies, which we believe would be advisable for the business community in the target country in question or for investors from abroad investing into this country.
 
5) Identification; “can we provide better references?”
As mentioned before, we do not want to waste our time, and we certainly do not want to waste your time. Once the report is ready, our marketing specialists start gathering relevant information about law firms in the respective country, preferably those with a strong focus on international tax planning services. The reason why we prefer to work with law firms is twofold. First of all, we are an independent organization, with no financial ties to the big 4- or any other global network. Therefore, law firms are our main sources of referrals, whereby it is beneficial for these firms to work with us as well, since, by working with us, they can avoid exposing themselves to their local (big 4) competitors. Secondly, law firms can in general be considered as reliable partners when it comes to client screening, application of KYC rules etc., one of the areas where we happen to conduct a very strict policy as well.
 
After careful screening, we make a selection of law firms we want to approach and of which we are confident that Consulco’s services can be useful for their clients (in certain cases, our tax planning services have even appeared to be useful for the approached lawyers in question; can we provide better references?).
 
6) Approach; “we are in this business because we like to be in this business”
Once we have decided when we want to visit the target country in question, our dedicated marketing professionals start approaching the selected lawyers by sending them the tax report and making follow up calls, after having provided them a reasonable time frame to digest the submitted information. We are always pleasantly surprised by the positive responses we receive in general, not in the last place because of the thoroughness of our approach, our professionalism and enthusiasm. We are in this business, because we like to be in this business.
 
7) Meeting; “when we say it works you can be confident that it works”
We believe that the best way of doing business is with persons we have met face to face. Our meetings always take place in an atmosphere of humor, sportsmanship, but most of all professionalism. We are often “bombarded” with series of detailed questions about the Cypriot fiscal and legal system and practice. We deal with them adequately, but without making promises we cannot meet. When things are not possible, we tell this in all honesty. However, when we say it works, you can be confident that it works.
 
8) Follow up; our adequacy reflects positively on the referent
Once back in Cyprus, we make two things sure. First of all, answers to any questions that had remained unanswered during the meetings will be provided to the respective service provider quickly, after liaisons with other departments in our firm. Secondly, if our visits have turned out in specific assignments, we make sure that the service provider’s client in question receives service of the highest level of quality and adequateness. We always make sure that our adequacy reflects positively on the referring service provider in question.
 
9) Updates; quarterly newsletters
Once back in Cyprus, we continue to provide our business associates with updates on relevant tax developments within the jurisdictions we are active in (amongst others by sending them our quarterly newsletters).
 
10) Follow up; mutual referrals
Once we notice that there is a high demand from a specific market for our services, we are capable of identifying at what level of demand, what necessary action needs to be taken in order to continue to guarantee the required service level. It may be that follow up visits are necessary, but in certain cases, like in Sweden and The Netherlands recently, the demand is so high that we decide to open up representative offices in the countries in question. These offices are fully-fledged and full-time manned and the people of our head-office visit these offices on a regular basis, in order for us to remain in close contact with our clients and sources of referrals. Finally, wherever we see a chance within our large network of relations and clients to refer business back to our sources of referrals, we will do so.