Papantoniou & Papantoniou LLC provides innovative solutions to meet the client’s best interests by including the structuring and preparation of wills, trust deeds and agreements, international tax planning, incorporation of trusts within a corporate structure and through other legal and commercial vehicles. Our Practice can advise as to the procedure of setting up a trust, draft the Trust Deed and generally complete this procedure.
It is well established that the use of Trusts as vehicles for various activities has many legal and financial benefits. The new Law amending the Cyprus International Trusts Law (L. 20(I)/2012) has been introduced and came into force on the 23rd of March 2012. The new International Trusts Law enhances the position of Cyprus as one of the most attractive jurisdictions worldwide to set up and operate an International Trust.
The new Law maintains the existing attractive Cyprus International Trusts Law and has introduced many new features. The most important of these new features are summarised below:
Generally the Cyprus International Trusts Law (L. 20(I)/2012) enhances the position of Cyprus as one of the most attractive jurisdictions worldwide to set up and operate an International Trust.
Cyprus International Trusts and Tax Advantages:
Cyprus International Trusts enjoy very important tax advantages, providing significant tax planning possibilities to interested parties. The following are the possible tax minimizations options:
Trusts may be used by individuals for the purpose of protecting their assets, for inheritance purposes or by employers to set up employment benefit scheme trusts for their employees
Cyprus International Trust is available:
To the individual who wishes to divert his overseas income to a discretionary trust
To the individual who wishes to divert himself of personal assets
To the individual who wishes to keep the ownership of his company anonymously and confidential.