Cypriot Trust Law has been built on the basis of the English model and the Cyprus Trustee Law Cap.193 patterns the English Trustee Act 1925. The International Trusts Law No. 69 (1) of 1992 and 2012 opened the way for the establishment of International Trusts in Cyprus. It was based on the existing Trust Law, but its purpose was to provide an opportunity for non-residents to create a Trust on the island with peculiar properties, previously unavailable to them.
Our firm provides administrative and management services of Estates and Trusts. It is a common knowledge that establishment of Trust structures brings both financial and legal advantages.
Legal possibilities are reflected in the following:
- Protection of assets – transferred property is free from claims of third parties,
- Security – instructions set out in the moment of the trust establishment allow to secure the estate in full and apply them in case of unexpected death of the founder
- Additional guaranties in case of political instability (determination of assets outside the country of residence of the Trustor)
- Confidentiality (non-disclosure of information about the Trustor and Beneficiaries)
Financial opportunities are related to International Tax Planning – established Trust in Cyprus allows to use full advantage of agreements on double taxation and as well as assets protection, whenever is necessary, furthermore it allows cost reductions, as in the case of the unexpected Trustor’s death is no need to re-register the shares and other assets, as the trust already owns the property. Therefore, our Firm provides our clients with many creative solutions for a wide variety of problems associated with Еstate planning, by creating of a Cyprus International Trust. Our services include structuring and preparation of corresponded documents such as wills, letter of wishes, deeds of settlement, agreements and trust deeds along with the incorporation processes of trusts, international tax planning, family partnerships and further services. By establishing a Living Trust we can assure our clients with the safe distribution of property in the future upon decease, like a will. It can also provide an instrument for managing property throughout lifetime.
Moreover, we consult on all aspects of property law as well as mortgage finance and deal with both commercial and residential real property transactions. Furthermore, our goal is to keep up with the high requirements and expectations of our clientele, therefore our specialists provide additional services offering drafting and preparation of all kind of agreements and contracts related to the building developments, constructions, lease and further accurate translation.