The legal framework governing a Cyprus International Trust (CIT) is a combination of English Law and the International Trusts Law of Cyprus.
A CIT offers to individuals the ability to set up a trust that can suit even complex situations and advantages that cannot be matched in other trusts jurisdictions.
Cyprus International Trusts – qualification criteria
Under section 2 of the International Trusts Law, a trust qualifies for a Cyprus International Trust where:
- the settlor is not a permanent resident in Cyprus;
- at least one trustee is a permanent resident in Cyprus;
- no beneficiaries are permanent residents in Cyprus; and
- the trust property does not include any immovable property in
Advantages of a Cyprus Trust
- The Settlor has the right to reserve many powers including, to revoke or amend the trust, to instruct the Trustee, to appoint and remove trustees, the protector or the enforcer, to change the law regulating the CIT or the place of its administration and others