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Trusts
The Trust is a concept developed originally by English Common Law and as Cypriot Law is modeled on the English Legal System, and the principles of Equity, Trusts are fully recognized and protected.

The legal framework governing the establishment and operation of Trusts in Cyprus has until recently been wholly based on the English Trustee Act of 1925. In 1992 the new International Trust Law was added to the statutes and works in tandem to the existing laws. This new law governs the establishment and the operation of Trusts created by non-residents for the benefit of non-residents spanning more than one legal jurisdiction.

Within this legal framework all the normal Trusts can be set up such as Discretionary, Fixed, Protective, Trade and Charitable Trusts. An International Trust enjoys important tax advantages and provides significant tax planning possibilities.

The main benefits are:

  • The income of an International Trust is non taxable.
  • Dividends or interest are non taxable and are not subject to withholding tax.
  • Gains on the disposal of assets are non taxable.
  • An International Trust created for Estate Duty Planning will not attract tax.
  • Flexibility in the removal of Trusts from its jurisdiction.

Copyright © 2003-2006 «Joseph Kokkinos & Co.»
22 Aiantos Street, Ayioi Omoloyitai 1082, P.O. Box 23336, 1681 Nicosia, Cyprus
Telephones: (00 357) 22 31-79-90 (6 lines)