At CYP inTRUST we have the experience to assist clients with the formation of Cyprus International Trusts as well as to guide them with regards to any legal matters related to trusts.
A Cyprus International Trust to be able to enjoy the benefits provided by Cyprus law has to comply with the following pre-conditions:
At least one trustee must be a permanent resident in Cyprus
The beneficiaries may be individuals or entities who may not be permanent residents in Cyprus
The settlor may be an individual or entity who may not be a permanent residence in Cyprus
A protector may be appointed by the settlor with the power to direct or restrain the trustees in relation to their management of the trust
Cyprus International Trusts enjoy certain tax advantages some of which are outlined below:
Capital gains on the disposal of the assets of a Cyprus International Trust are not subject to tax in Cyprus.
Any income such as dividends or interest received by a Cyprus International Trust from a Cyprus business company is not subject to tax.
No estate duty is imposed on a Cyprus International Trust
On many occasions Cyprus International Trusts are eligible to enjoy the benefits of the double tax treaties which Cyprus has concluded with various countries.
Our legal team will be happy to assist you with any questions you may have in relation to Cyprus International Trusts and offer you their advice as to the best way to structure the trustee services for your Trust.