Establishing Foundations In Cyprus – A New Step In Asset Protection

Introduction

According to Dr. Johanna Niegel, the functionality, ease of use and real-time purpose of Purposeful Trusts and Foundations , is the following:

The legislation process presently taking place in the various common law jurisdictions is driven by the needs of today's international client who simply wants to have multiple estate and tax planning tools available in various international jurisdictions, be it common or civil law jurisdictions. Foundation concepts have been stretched, sometimes close to their limits, and there has also been a reception of trust law into private foundations, in particular, also with a view to foundation purposes and 'purpose foundations'. The enactment of new foundation laws worldwide has now reached a stage where one can go so far as to speak of foundations of the first and the second generation.