Our firm offers a full range of trust services. We can undertake the setting up of local or international trusts and members of our firm can act as trustees.
Setting up an international trust provides a variety of international tax and business planning opportunities, as well as a number of advantages for regulating family affairs.
Cyprus is a common law jurisdiction that is well suited to the provision of trustee services. The Law on Cyprus International Trusts provides that such trusts must have a Cypriot resident trustee, the settlor must not be a permanent resident of Cyprus, no beneficiary other than a charitable institution can be a permanent resident of Cyprus and the trust property does not include any immovable property situated in Cyprus. The maximum perpetuity period under the law is 100 years and there is no restriction on income accumulations.
Cyprus International Trusts provide significant tax advantages including the following:
All the income, whether trading or otherwise, of a Cyprus International Tax is not taxable in Cyprus.
Dividends, interest or other income received by a Cyprus International Trust from
a Cyprus Company are neither taxable nor subject to withholding tax.
Gains on the disposal of the assets of a Cyprus International Trust are not subject
to Capital gains tax in Cyprus.
Our firm also specialises in Probate law. We can offer a full range of services including
drafting of wills, administration of estate and probate litigation.
Cyprus has abolished inheritance tax making it financially wise to have a will in Cyprus
covering all property situated in Cyprus irrespective of the domicile of the person.