International Trusts

Why Cyprus

• Worldwide income, gains and profits are not taxable in Cyprus.
• Any dividends, interest or royalties that a Cyprus International Trust receives from any Cyprus company are not subject to tax.
• No inheritance tax.
• Cyprus has a wide network of double tax treaties.

Certainties

In order to establish a trust in Cyprus, the following three certainties must be present:

• Certainty of intention: There must be evidence of express intention of the settlor to establish the trust. This is verified by the trust deed.
• Certainty of subject matter: The subject matter of the trust, i.e. the trust property, must be readily identifiable. Failure to satisfy this criterion would warrant the trust void.
• Certainty of objects: The identity of all beneficiaries must be ascertained or ascertainable at the time of setting up the trust.

Further criteria apply. In order to set up a trust:

• The settlor can either be a natural or a legal person.
• The settlor must be of the right age and of sound mind.
• Neither the settlor nor the beneficiaries may be residents of Cyprus during the year preceding the creation of the Trust.
• There must be at least one trustee residing in Cyprus at all times.

What we can do for you

• We advise you regarding the creation of a CIT and we deal with the preparation of all legal documents required.
• We provide administration and trustee services.
• We maintain records regarding principal and interest
• We monitor compliance with legal requirements