Get unparalleled asset protection, flexibility and peace of Mind
Thanks to its robust legal framework and significant tax incentives, Cyprus stands out as one of the most prime, competitive jurisdictions where you can establish a trust following the extensive amendments in 2012 to the International Trusts Law 69(I)/92.
One of the most renowned Trust structures that you can benefit from in Cyprus is the International Trust, which is a key feature of Cyprus International Trust law.
With a Cyprus International Trust, you can govern or manage all types of property imaginable. This includes real estate, money, bank accounts, stocks, bonds, brokerage accounts, business interests in specific companies, life insurance, annuities, cars, yachts, airplanes, jewellery, antiques, precious stones, art, interests in oil and gas, timeshares, livestock, trademarks, copyrights, and plenty more.
With Meridian Trust, you can take a step toward financial security today. Let us handle the complexities while you define your vision!
Ready to safeguard your assets and secure your wealth effortlessly?
Here are some considerations you'll need to make to get the ball rolling:
- Identify Your Assets: Decide which assets you want to include and estimate their value.
- Choose a Trustee: Select a knowledgeable, trustworthy individual to manage your assets exactly as you wish.
- Determine Beneficiaries: Outline who will benefit from your trust and how the assets should be distributed among them.
- Define Your Objectives: Think about your trust's primary goals, and rest easy knowing you can fine-tune the details with your solicitor as needed.
Need more info? Get in touch!
Photo by SevenStorm JUHASZIMRUS
Why Set Up a Cyprus International Trust?
Setting up an International Trust in Cyprus offers numerous unique advantages, designed to protect and manage your wealth more effectively.
Some of the benefits you'll enjoy from a Cyprus International Trust are:
Protected assets with an unparalleled Solution
By transferring your assets into a Cyprus International Trust, you create a formidable barrier that makes it incredibly difficult for government bodies, creditors, or even an estranged spouse to lay claim to your wealth. This move not only shields your assets from lawsuits and future claims but also preserves your family's wealth, preventing the dilution of value through inheritance splits.
A favorable tax regime
Cyprus international trust law is globally recognized for its highly favorable tax conditions.
Some of the tax benefits you'll enjoy by setting up a Cyprus International Trust are:
- No taxation on dividends, interest, or royalties received by the trust from a Cypriot company.
- No withholding tax on the income distributed to beneficiaries.
- No capital gains tax on the sale or disposal of assets within the International Trust in Cyprus.
- No estate duty or inheritance tax if your trust is set up for estate planning. Only Local International trusts will have to pay VAT and stamp duty on their activities on the island and will be taxed on income made in Cyprus.
Confidentiality and Privacy
With a Cyprus International Trust, you are ensured of unparalleled confidentiality and privacy for both the settlors and beneficiaries. Unlike drafting a will, which is a public affair, a trust allows you to keep your assets and wealth confidential.
Strict confidentiality clauses bind your trustees and cannot disclose any trust-related information unless mandated by a court order. Although the trust must be registered, sensitive details such as the trust deed and beneficiary identities are kept private and accessible only to competent authorities.
Long-term continuity and perpetuity
A Cyprus International Trust offers unmatched longevity, enduring for a lifetime plus 21 years or 21 years if no natural person is involved. Unlike other jurisdictions, these trusts can also continue indefinitely. This ensures your family wealth is preserved across generations, safeguarding your legacy and providing seamless business continuity.
Control with reserved powers
You can stay in control by retaining powers to modify your trust terms, revoke the trust, or appoint and remove trustees and beneficiaries as you desire. With the flexibility of a Cyprus International Trust, you can adapt to changing circumstances while keeping a firm grip on your assets.
Strategic family and inheritance planning
Suppose you have complex family arrangements and estate planning. In this case, Cyprus International Trusts will offer you a strategic solution for ensuring your assets are distributed according to your wishes, minimizing legal disputes and maximizing financial efficiency. That way, you can simultaneously save on potential inheritance taxes and meticulously plan how your wealth is shared with your loved ones.
Safeguard your family business
An International Trust in Cyprus is a great way to protect the family business you've worked so hard to build. It will help you prevent unwanted sale and ensure profits are distributed to family members who might not wish to run the business, thereby securing the legacy of your enterprise.
Bypass forced heirship laws
In jurisdictions with forced heirship laws, a Cyprus International Trust allows you to bypass these restrictions and distribute your wealth according to your true intentions, ensuring your assets end up exactly where you want them.
Need more info? Get in touch!
Partner with Meridian Trust for your International Trust needs
Cyprus international trust law requires all trustees to register their trusts with appropriate supervisory bodies. The Cyprus Securities and Exchange Commission (CySEC), the Cyprus Bar Association, and the Institute of Certified Public Accountants of Cyprus (ICPAC) oversee the system.
The regulatory framework ensures that all settlors are confident that their trust is protected and will function as intended for the long term.
Setting and managing a Cyprus international trust can only be done by a licensed and legal entity approved by the Cyprus Stock Exchange or fiduciaries who are members of either the Cyprus Bar Association or ICPAC.
To properly set up Cyprus International Trust, you must submit the following details to a relevant regulatory or supervisory body:
- The trust's name.
- The trustees' first names, last names, and addresses.
- The date the trust was set up.
- The date the trust's proper law was modified.
- The date the trust will be terminated.
And this is where we come in.
As a licensed and regulated service provider, we will help you set up and manage your Cyprus International Trust. We have the expertise, qualifications and experience to guide you through every step of the process.
Here is what our Cyprus International Trust package covers:
- Expert guidance: Our team will provide clear advice on the best trust funds for your needs, helping you design a trust structure that perfectly aligns with your goals.
- Drafting Customized Trust Deed: We don't believe in a one-fit size one-size-fits-all strategy. That's why we will work closely with you to understand your specific objectives and help you draft a trust that reflects your unique desires.
- Seamless registration process: Leave all the paperwork to us! We will handle the application process, fill out the trust form, and register your structure with relevant regulatory or supervisory bodies.
- Provide comprehensive trust administration services: Our team will work closely with you to alleviate any stress related to international trusts. We offer a full suite of administrative services, including tax planning, accounting, asset distribution, and ongoing estate management.
Want to learn more about Cyprus International Trust? Schedule a free consultation today.
Schedule a free consultation for your Cyprus International trust needs
At Meridian Trust, we understand all the complexities and headaches involved in successfully setting up and managing an International tax. Our team is here to guide you every step of the way and make sure your assets are protected and managed according to Cyprus International law.
As you take the step towards securing your financial future, let us be part of the journey. We will help you maximize the benefits of Cyprus International Trust.
Schedule a free consultation with our experts today, and let us guide you through the complexities of international trust.
Need more info? Schedule a free consultation today.