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A trust is a fiduciary relationship in which one party, known as a settlor (or trustor or grantor in the U.S.), gives another party, the trustee, the right to hold title to property or assets...

In this article we would like to analyze several key parameters related to the Chabra injunction.

When it comes to safeguarding your wealth and ensuring long-term financial security, choosing the right jurisdiction for establishing a trust is critical.

More often, parents are willing and determined to start saving money for their children as soon as their baby is born (sometimes, even before the baby's "arrival").

An FIC is a private company that invests rather than trades. In particular, an FIC holds the family's long-term investments (eg, share portfolios or property) and the shareholders and directors...

Cyprus has established itself as a leading jurisdiction for the creation and administration of trusts, offering a robust legal framework, modern legislation, and an attractive tax environment.

The Prevention and Suppression of Money Laundering and Terrorist Financing Law 13(1)/2018 governs the establishment of the Ultimate Beneficial Owners Register and the obligations of Cyprus companies and other legal entities ...

Despite the ongoing fluctuations in the global economic environment, Trusts continue to be extensively employed by many Administrative Service providers worldwide.

Cyprus has established itself as a leading jurisdiction for wealth management and asset protection, particularly for ultra-high-net-worth individuals (UHNWIs).

On 9 March 2012 the House of Representatives passed an amendment to the 1992 Cyprus International Trusts Law (the "Law") modernising the legal framework for the set up and operation of Cyprus International Trusts ("CITs").

In this study we shall try to identify how the income of trusts is taxed in Cyprus, having in mind its idiomorphic concept as to the dual separation of the ownership of the trust property, to legal and beneficial.

The period of perestroika in Russia coincided with the introduction of the Cyprus International Trusts Law 1992, which gave Cyprus a 'state of the art' international trusts regime, with excellent tax mitigation and asset protection features, and the additional benefit of circumventing any forced heirship restrictions.

The confirmation is required every year, whether or not anything has changed. Depending on the entity, it covers the beneficial owners, the senior management officials recorded where no beneficial owner can be identified, or the due diligence applied. The notice states that the confirmation is made only once during the period.

In practice, we are increasingly seeing clients approach us not only with tax or succession questions...

Trust law is built on confidence. Trustees hold immense discretionary powers that can shape the lives of beneficiaries for generations.

Cyprus incorporated in its domestic legislation the provisions of the 5th Anti-Money Laundering EU Directive 2018/843 on the 23rd of February 2021.

Whether due to a breach of duties, loss of capacity, or a need for new expertise, trustees may be removed or replaced under conditions outlined in the trust deed or relevant legislation.