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Favourable Legal System
The favourable legal system relating to Cyprus International Trusts makes Cyprus a particularly attractive Trust location.
No Exchange Control
Cyprus International Trusts are not subject to exchange control. The absence of exchange control restrictions and the availability of excellent telecommunications and international banking services, make Cyprus a convenient base for the remittance and transfer of funds to Cyprus International Trusts and from the Cyprus International Trusts to their beneficiaries.
Availability of Quality Trustee Services
The presence of a number of reputable international fund management companies on the island and the high standing of the legal and accounting professions ensure the availability of expert advice as well as the competent management services required for the proper operation of a Trust in Cyprus.
International Trusts Law requires trustees to maintain confidentiality of the Trust. There are no registration or reporting requirements for Trusts established in Cyprus, nor is it required to identify in the Trust Deed the names of the beneficiaries of the Trust. The Deed of the Trust is private to the parties concerned. The Settlor may also provide that the beneficiaries of the Trust should not be aware of the Trust until their entitlement vests in them. These features help to ensure confidentiality of the settlor’s intentions.
A Cyprus International Trust may be transferred to another country's jurisdiction provided such jurisdiction is able to accept it. At the same time, a trust established in another jurisdiction may be transferred to Cyprus provided the existing jurisdiction of the trust allows for it.