ARTICLE · 30 JANUARY 2024

Cyprus International Trusts

McMillan Woods

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Cyprus International Trusts are governed by the International Trusts Law of 1992 which regulates establishment and administration of Trusts.

CyprusTax

Cyprus International Trusts are governed by the International Trusts Law of 1992 which regulates establishment and administration of Trusts. It has been completed by new amendments in March 2012.

A Cyprus International Trust is characterized by the following:

The Settler and beneficiaries can relocate to Cyprus and become tax residents of Cyprus on the condition that both of them were not residents of Cyprus during the calendar year which proceeds the year of the establishment of the trust.
At least one of the Trustees of the Trust must be a permanent resident in Cyprus during the duration of the Trust.
The Trust property can include any movable and immovable property in Cyprus and/or abroad as well as shares of companies registered in Cyprus.

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