“A trust is an equitable obligation, binding a person (who is called a trustee) to deal with property over which he has control (which is called the trust property), for the benefit of persons (who are called the beneficiaries) of whom he may himself be one, and any one of whom may enforce the obligation.”
Cyprus trusts are regulated by the Cyprus International Trusts Law 1992 (as amended by 20(I)/2012 and 98(I)/2013) and the Trustees Law (CAP 193). In recent years, the Cyprus international trusts regime has been considered as one of the most popular regimes in Europe and other trust jurisdictions. Our Firm provides well-rounded legal advice in relation to the creation and administration of trusts which includes (among other) private trusts, charitable trusts, discretionary trusts and fixed trusts. Our team has been praised for providing accurate and clear personalized advice to each individual client based on their needs and requirements in relation to the creation of a trust of their choice which includes legal advice on the tax efficacy and position of a trust. Our clients range from companies seeking to create an international trust through their corporate structures to high-net-worth individuals seeking to organize their wealth within a family structure.
Our Firm’s expertise extends to the preparation and drafting of trust deeds and any other related agreements and provide legal advice in relation to inter alia: the distribution process to the beneficiaries of the trust, succession plans as well as the implementation of asset protection plans. We further provide guidance and assistance in relation to the appointment and/or removal of trustees and offer legal advice and guidance in relation to the trustees’ main duties in accordance with the law, implementation of indemnity provisions and any other legal matters that may arise. Our services further extend to the provision of corporate trustees.