The Cyprus International Trust Law underwent significant reform. The Cyprus Trust Law was transformed by the amendment law, Law 20(I)/2012, which was passed in early 2012. CITs will be easier to access and more effective because they are based on greater clarity, stability, and certainty.
HNWIs in Cyprus are rapidly becoming the preferred EU Trust jurisdiction because of its professional services, low costs and high standards. This guide is meant to give an overview of CITs in Cyprus and the Cyprus International Trust Law. This Guide is designed to give you a general overview of the benefits and issues.
The Beneficiaries' residence and domicile will affect the benefits of Trusts. The following are examples of benefits from putting assets into a Cyprus International Trust. 193, which largely follows both the English Trustee Act of 1955 and the International Trusts Law No.69/92, as recently amended (the “Law” and “CIT Law”).
It is also possible to apply the principles of equity as well as case law. A Trust can appoint an additional person to its authority, the Protector.
Globalserve is a top provider of Trustee Services in Cyprus. They have extensive experience administering and setting up Cyprus International Trusts.
Our highly-skilled professionals will be able to advise you on how to set up a Cyprus International Trust, tailored to your particular business and personal requirements.