Cyprus International Trusts: Advantages And Formation Process

Cyprus International Trusts: Advantages and Formation Process

The use of trusts is established for the protection of assets, international tax planning, as a means of settling succession matters and generally as an aid in asset management. In Cyprus, being a common law jurisdiction embedding the principles of equity in its legal order, a trust is formed in accordance with the Cyprus International Trusts Law of 1992, as amended (the "Law"), which broadly follows the common law principles of equity with respect to the formation of trusts. Cyprus also maintains a high position as one of the most attractive jurisdictions for international tax planning due to the favourable provisions in the Law applicable. This article outlines the advantages of forming a Cyprus International Trust in Cyprus as well as some of the key characteristics, registration process and other useful information.