The Law does not provide a comprehensive definition of ‘trusts’. Trusts law was largely developed by the courts on a case-by-case basis, and it is through the development of case law which has provided us with a better understanding of what a trust arrangement entails. The basic structure is as follows:
Our long lasting experience enables us to fully understand the needs of your business and contribute towards its success. This publication will concentrate on the business development
between Cyprus and Germany in the context of the new Double Tax Treaty signed in February 2011. A preliminary analysis of the key provisions of the new Treaty is expected to determine the cooperation potentials of the two contracting states in the upcoming years.
Cyprus has many advantages to offer as a maritime centre. It has a well established maritime infrastructure and offers substantial tax incentives for the shipping industry. Also, it is a member of the International Maritime Organisation (the “IMO”), the Council of Europe, the Commonwealth and many other international organizations. It is a signatory to many international maritime conventions and has concluded bilateral agreements of co-operation in merchant shipping and double tax treaties with a large number of countries. A significant number of Cyprus vessels are managed by ship management companies operating from fully manned offices on the island.