Trust & Trustees (Vol.20, NO.5),The Cyprus Trust Regime A Trusted Friend
The trust structure is increasingly becoming one of the most valued asset management tools. Accordingly, choosing the appropriate location for the creation of a trust proves vital for appropriate organization of business affairs and ultimately for effective tax optimization. Cyprus is a renowned financial centre, offering multiple opportunities for the setting up and operation of trusts. Trust Law in Cyprus is based on the well-established English principles of equity and trust. Further, our lawmakers have ensured that applicable laws are business-oriented but also ideal for ‘family situations’, modern and easy to comprehend but at the same time can effectively cater for complex needs. Ultimately, the Cyprus trust vehicle ensures the highest degree of asset protection, both nationally and internationally, and offers unrivalled tax advantages, thus achieving wealth optimization for its users. The analysis of the Cyprus Trust Regime that will follow exhibits this reality.