Whitmill further extends jurisdictional reach by establishing a presence in Limassol, Cyprus
27 June 2018
Whitmill has this week announced the formation of a joint venture arrangement with Fidelius Management Services Limited, resulting in the establishment of Whitmill’s presence in Cyprus.
The agreement reached between the business founders Don Wijsmuller and Demos Demou, will allow Whitmill to add a seventh jurisdiction to their international offering, extending their services to include this European financial services centre.
As a member of the EEC and with a wide network of international double tax treaties and low corporate tax rates, Cyprus offers a range of benefits to international businesses. Furthermore, the jurisdiction offers a strong modern infrastructure, as well as high professional standards.
Cyprus has become an ideal gateway and platform for conducting business and investments with Europe as well as its neighbouring markets in the Middle East and North Africa.
Whitmill was established in Jersey in 1992, since then the business has developed and expanded to provide additional service offerings in Dubai, Gibraltar, Switzerland, Malta and the Netherlands.
Whitmill’s independent and flexible approach, combined with its extensive network allows the organisation to provide wealth management solutions to a wide range of clients, located throughout the world.
Similarly to Whitmill, Fidelius Management Services Limited is an independently owned company offering expertise in a range of corporate and trust services. The new agreement sees both businesses join together to incorporate Whitmill Trust (Cyprus) Limited, which will provide an experienced team of professionals dedicated to delivering quality corporate administration services from Limassol.
Prior to establishing this joint venture, Whitmill and Fidelius have closely cooperated in relation to mutual clients for over 10 years. Discussing the partnership Don Wijsmuller said, “At Whitmill we pride ourselves on our commitment to tailoring services to meet the needs of our clients. Throughout the past ten year we have informally collaborated with Demos, viewing Fidelius as a preferred partner in Cyprus.
The establishment of this joint venture and the registration of Whitmill Trust (Cyprus) Limited now puts our relationship on a formal footing and will create synergies which will benefit our clients, professional contacts and associates.