Cyprus International Trusts
Maximum protection and flexibility offered by Cyprus International Trusts.
The international Trusts Law of Cyprus has created one of the most attractive trust legal frameworks in the world. It offers the opportunity to create a trust that will suit the most complex situations and demands and enjoy many advantages and protections that cannot be found concentrated in other trust jurisdictions.
Main protective features of Cyprus International Trusts (CIT)
- A CIT may be challenged only on defraud of creditor grounds with a two year limitation period.
- All matters in relation to a Cyprus International Trust are determined in accordance with Cyprus Law and the Cyprus Courts have jurisdiction.
- In the case of a CIT which is expressly governed by Cyprus Law, the provisions of the International Trusts Laws of Cyprus apply without reference to other applicable rules of conflict.
- Succession, heirship or other laws applicable in foreign jurisdictions or court judgments or orders or arbitral awards or decisions by foreign Competent Authorities do not affect the validity of a CIT or the transfer of property to the Trustee of a CIT.
- The Settlor has the right to reserve many powers including, the powers to revoke or amend the trust, to instruct the Trustee, to appoint and remove trustees, the protector or the enforcer, to change the law regulating the CIT or the place of its administration.
- A CIT may last for an indefinite period.
- The income of a CIT may be accumulated without limitations.
- A CIT may be created for charitable or for any other purpose.
- The law regulating a CIT may be changed to another foreign law.
- The trustees of a CIT are bound by confidentiality and cannot disclose information or documents unless they are ordered by a Cyprus Court or are required by law in certain defined circumstances.
We advise on the set up of appropriate trust structures tailored to meet our clients’ circumstances. We may be appointed trustees / protectors / enforcers carrying out the wishes of the settlor in accordance with the terms of the trust. We may act as trustees, protectors, enforcers through our own trust companies or through the creation of private trustee companies.
We advise on trustee powers, beneficiary rights and distributions, changes of beneficiaries, protector’s power and other trust related matters.