ADVANTAGES OF CYPRUS TRUSTS
Cyprus International Trusts benefit from important tax advantages, providing significant tax planning possibilities. Income and gains of an international trust derived from sources which are outside of Cyprus are exempt from all kinds of tax in Cyprus and no Cyprus estate duty is chargeable in respect of assets belonging to an international trust created in Cyprus.
Protection against high tax
In high tax jurisdictions it is possible to minimize tax on income/wealth by transferring property to a Cyprus International Trust. With a proper tax structure and the beneficial double taxation treaty network Cyprus has with many countries, the tax benefits of a Cyprus International Trust are significant.
Holding property that cannot personally be held
Under some laws a minor who is not of legal age may not be able to have property registered in his own name but the property can be held in a trust for the minor’s benefit.
Charities
A Cyprus international Trust can be set up to provide for a charity or other not for profit organization or simply to promote a worthy cause.
Protection of assets
Assets can be placed in a Cyprus International Trust to protect the assets and the interests of the beneficiary
Transferring of personal assets
For tax or other reasons personal assets may be transferred to a Cyprus Trust.
Investing in business overseas
For an individual who wishes to invest overseas a Cyprus Trust can be set up and the profits and dividends received from the overseas business may be not remitted to the country of his residence.
Confidentiality
An individual who does not want to disclose ownership of a company for confidentiality purposes can do this by setting up a discretionary Cypriot trust to own the shares in the company
Estate planning
A trust is a useful tool which can be used for transfer assets to a beneficiary who would otherwise not be allowed any inheritance due to the laws of the country
It is important to note that all matters which relate to a Cyprus International Trust are determined in accordance with the laws of the Republic of Cyprus and the Cyprus Courts have jurisdiction.
FastCo provides you with specialized tailored solutions. Our team is comprised of professionals who are fully qualified in their field of expertise, ranging from company formation to provision of fiduciary services. Through our affiliate firms we also provide tax, accounting, audit and general administration services.
