Cyprus is a reputable and well-established international financial centre that provides attractive benefits for the establishment and operation of international Trusts. Cyprus International Trusts, (CIT's) have provided high levels of protection and flexibility for nonresidents since long and continue to attract HNWIs from around the globe.
The Cyprus International Trust Law underwent significant reform. The Cyprus Trust Law (Law 20I)/2012), which was amended in 2012, is said to have made it the most favorable Trust regime in Europe. CITs were made more practical and accessible by the amending legislation. It is based on greater certainty, clarity and stability.
HNWIs, their families and friends are quickly choosing Cyprus to be their EU Trust jurisdiction. This is due to the high quality of professional services as well as the relatively low costs. This guide provides an overview of CITs, as well the Cyprus International Trust Law. The Guide is meant to provide a basic overview of CITs and the Cyprus International Trust Law.
Professional Trustee Services CyprusThe beneficiaries' domicile and residence will determine the specific benefits of a Trust. The following are examples of the advantages of a Cyprus International Trust. 193, which follows the English Trustee Act of 2525 and the International Trusts Law No.69(I)/92 as modified (the "Law" or "CIT Law).
Both case law and the principles of equity are applicable. A Trust may appoint an outside person as a Protector. The Trust deed can grant powers of all nature to the Protector. These include the ability to veto Trustee decisions and appoint, cancel, or resign the Trustee.
Globalserve is a trusted provider of Trustee services for Cyprus. They have extensive experience in administering and establishing Cyprus International Trusts.
Our highly qualified professionals are available to advise you on the establishment of a Cyprus International Trust, tailored to your personal and business needs.