This isn't unique to Cyprus. Deloitte Global is specifically structured this way:

"The member firms are primarily organised on an individual country or regional basis and each operates within the legal and regulatory framework of its particular jurisdiction(s). They are separate and independent firms that have come together to practise under a common brand and shared methodologies, client service standards and other professional protocols and guidelines."

https://www.deloitte.com/ce/en/about/governance/network-bran...

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DownGoat a day ago | parent [-]

I think they would have done this type of structuring anyway just because of what the parent comments have mentioned. But this is probably required by local laws just to be allowed to operate in the jurisdiction(s).

	▲	nkozyra a day ago \| parent [-]
		I'd be shocked if many EU nations required domestic incorporation just to do legal/regulatory/consulting business there. Plenty of other multinational corps operate under their primary company. But it could be the case! What I suspect happened with Deloitte specifically is they found a way to appear to expand globally without taking on a lot of the risk. More like brand franchising. Which is all to say that I wouldn't doubt Deloitte Cyprus (or other branches) have shady stuff going on, but that this structure wasn't designed specifically for that purpose.