We have considerable experience in forming and providing trustee services to Cyprus International Trusts.
For settlors residing in high taxation jurisdictions, it is possible to minimize their taxation on income or wealth by transferring property (assets include, inter alia, movable and immovable property, shares or cash) anywhere in the world to a Cyprus International Trust, as under a proper tax structure they will be able to take advantage of the beneficial double taxation treaty network of Cyprus.
Furthermore, confidentiality is achieved, as there is no requirement to register or publish the financial results of an International Trust. The Deed of Trust is private to the parties concerned whereas in many overseas jurisdictions, when a person dies his will becomes open to public inspection.
Benefits for establishing a Cyprus International Trust :
1. trusts and beneficiaries of trusts are not taxed in Cyprus;
2. No Capital Gains tax is paid by the International Trusts;
3. Distributions to beneficiaries are not subject to tax in Cyprus;
4. Assets can be added to the trust at any time
5. The trust can be a shareholder in a Cyprus Company or a foreign company;
If the Cyprus Trust is a shareholder in a Cyprus Company it will enjoy the tax and other benefits of the Cyprus international company;
Trust assets are permanently separated from the Settlor’s personally owned assets
The trust can be revocable or irrevocable;