• Trust Formation: we assist our clients to form Cyprus International Trusts, guiding them to all legal and practical aspects of drafting the Trust Deed. Our experience lawyers will help you to ensure that your trust is both legally valid and that the intentions you express as the Settlor in the Trust Deed are enforceable.

• Trustee Services: our associates have considerable experience in acting as trustees for number of Cyprus International Trusts. They will advise the best way to structure the trustee services for your Trust depending on your intentions.

General information about Trust:

Structure of Trust:

Settlor: under Cyprus International Trust Law the Settlor of Cyprus International Trust may be an individual or legal entity but may not be a permanent resident.

Beneficiary may be individual or legal entity but may not be permanent residents in Cyprus.

Trustee: must be permanent resident in Cyprus. As rule Cyprus companies operate as trustees of Cyprus International Trusts.

Property: may be any property other than immovable property in Cyprus.

Protector: if settlor so wishes may appoint a protector in the Cyprus International Trust who would have a power to veto certain decisions of the Trustees.


Advantages of Cyprus International Trust:

• Favourable legal system: relating to Cyprus International Trusts makes Cyprus a particularly attractive Trust location.
• No exchange control: Cyprus International Trusts are not subject to exchange control. The absence of exchange control restrictions and availability of excellent telecommunications and international banking services make Cyprus a convenient base for the remittance and transfer of funds to Cyprus International Trusts to their beneficiaries.

Versatility: a Cyprus International Trust may be transferred to another country jurisdiction provided such jurisdiction is able to accept it. A trust established in another jurisdiction may be transferred to Cyprus.

Tax information: Cyprus International Trusts enjoy important tax advantages. Although taxation considerations relating to Trusts are fairly complicated, the following are indicative advantages.

Double Tax Treaties: Cyprus has a wide network of double tax treaties and many of these treaties are drafted in such way that trusts are eligible for their for their benefits making in attractive choice of jurisdiction from the fiscal point of view when considering a settlement of assets into a trust.

Income: any income of Cyprus International Trust whether trading or otherwise is not taxable in Cyprus.

Dividends: dividends, interest or other income received by Cyprus International Trust from Cyprus International business company are not subject to tax.

Capital Gains: gains on the disposal of the asset of Cyprus International Trust are not subject to tax in Cyprus.

Estate Duty: a Cyprus International Trust would not be subject to estate duty in Cyprus

Individuals retired in Cyprus: a foreign individual who create an International Trust in Cyprus and retires in Cyprus would be exempt from tax in Cyprus if all property settled and the income earned is abroad, even if he is a beneficiary.