Over the past twenty years, Cyprus has developed into one of the most favourable places for international business. The Cyprus low tax regime, its ability to offer sophisticated planning structures, its ability to set up and manage collective investments schemes, the enactment of the Cyprus Trusts Law which provided for the formation and administration of Cyprus international trusts combined with its excellent geographical position and infrastructure where the key factors for its success.
Trusts are usually used by wealthy individuals for the purpose of protecting their estate form inheritance or capital gain taxes in their home country. They can also be used by expatriates settling into a trust before repatriating assets acquired while working abroad, to protect such assets from the tax net of their home country.
Book a Free ConsultationSeeking competent planning advice is key when choosing the best structure for a trust, as well as managing and administrating it, in accordance with the International Trusts Law of 1992 to 2013.
When structuring a trust, both asset wealth protection and estate planning options should be considered. Cyprus trusts also offer unique tax advantages, and there is a wide network of double taxation treaties between Cyprus and other countries that clients can benefit from.