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Cyprus is a jurisdiction known for its favorable tax regime and its wide network of double tax treaties. Furthermore, it provides attractive opportunities to set up a Cyprus International Trust, which can be used for a variety of tax planning purposes.
Who may be interested in setting up a Cyprus International Trust?
Investors and businessmen
- interested in investing overseas and wishing to redirect their income to a CIT. They can also set up a CIT which can own an Investment Holding Company located in another country, maximizing thereby protection for all the involved parties.
- interested in divesting their personal assets.
- using CIT as part of commercial agreements in order to maximize protection.
Families and other high-net-worth individuals
- A family interested in providing for minors and/or its successive generations (for inheritance purposes).
- A couple interested in providing for their marriage while protecting their property in case the marriage falls apart.
- For charity purposes.
- Families and Individuals moving to a country with a high tax regime can set up a CIT in order to minimize the potential tax burden that may occur after their installation in the new country.
Anybody interested in protecting their assets while ensuring their anonymity (confidentiality)
By setting a discretionary trust, an individual can keep his/her identity secret, while ensuring the protection of their personal assets. They may be able thereby to protect their assets from domestic inflation rates, possible expropriation laws and other restricting regulations.
For more information on Cyprus International Trusts, you can check out our related articles. For tailor made advice, please get in touch with our team.
