Frequently Asked Questions
What is a Cyprus International Trust and how does it benefit me?
A Cyprus International Trust offers robust protection for your assets and estate, providing tax benefits and privacy while allowing you to manage and control how your wealth is distributed
What are the main parties involved in a Cyprus International Trust?
The main parties involved include the Settlor, who establishes the trust; the Trustee, who manages the trust; the Beneficiaries, who benefit from the trust; and optionally, a Protector, who oversees the trustee and ensures the trust’s terms are adhered to.
How long does it take to establish a Cyprus International Trust?
Establishing a Cyprus International Trust typically takes about 2 weeks, including the time required for registrations with the Cyprus Bar Association and the Cyprus Securities and Exchange Commission.
What assets can be included in a Cyprus International Trust?
Practically any type of asset can be included in a CIT, such as real estate, stocks, bonds, and other investment products, both within Cyprus and internationally.
Who can set up a Cyprus International Trust?
Any individual not residing in Cyprus during the year preceding the creation of the trust can establish a CIT, making it ideal for international clients seeking asset protection
What are the tax advantages of a Cyprus International Trust?
CITs enjoy a tax-exempt status on foreign-sourced income, no inheritance taxes, and no capital gains tax on asset disposal, providing a highly favorable tax environment
What are the requirements for trustees in a CIT?
At least one trustee must be a permanent resident of Cyprus, ensuring that the trust complies with local governance and maintains its international legal standing
Can the settlor also be a beneficiary in a Cyprus International Trust?
Yes, in a Cyprus International Trust, the settlor can also be named as a beneficiary, providing flexibility in how the trust is structured and allowing the settlor to benefit from the assets placed in trust.
How secure is my information with a Cyprus International Trust?
Cyprus law guarantees strict confidentiality for trust arrangements, with details only accessible to government statutory authorities under specific conditions
How long can a Cyprus International Trust last?
There are no restrictions on the duration of a CIT, which can be structured to continue indefinitely, providing lasting benefits across generations
How can I ensure compliance with international and local regulations?
Our law firm assists in ensuring that your CIT complies with all relevant local and international laws, providing peace of mind that your trust is both effective and legal