Cyprus trust law is mainly regulated by the Trustee Law, Chapter 193 and the International Trusts Law of 1992, and is essentially based on the English system. Under the Cyprus International Trusts Law, an international trust is described as a trust created by a non-resident settlor for the benefit of non-resident beneficiaries. The settlor of the international trust, being any person who is of full age and of sound mind, must not be a resident of Cyprus in the year preceding the year of the creation of the international trust; No beneficiary, other than a charity, should be a resident of Cyprus in the year preceding the year of the creation of the international trust; and There must be at least one trustee resident in Cyprus at all times.

Key Features

Cyprus International Trust

Corporate Details

General

  • Type of entity

International Trust

  • Type of law

Follow English law/As per Trust Deed

  • Legal Framework

Cyprus International Trusts Act

  • Our time to establish a Trust

2 weeks

  • Taxation of trust assets

None (Besides income and gains of an international trust from sources within Cyprus)

  • Change of Domicile permitted

Yes

  • Duration

No Limit

  • Restriction on Investment of Trust asset

No

  • Succession

As per Trust Deed

Settlor

  • Requirements

Should not be a resident of Cyprus

  • Qualifications

A trustee, a beneficiary or a protector of the trust.

Beneficiary

  • Requirements

Should not be a resident of Cyprus

  • Qualifications

A trustee, a beneficiary or a protector of the trust.

  • Property

Should not include immovable property situated in Cyprus

  • Jurisdiction

Cyprus Supreme Court

  • Forced heirship applicable

No

 Trustee   

  • Minimum number

1 if corporate and 2 or more if not corporate

  • Qualification

No domestic trustee is required

Accounts

  • Requirement to file

Yes

  • Publicly accessible

No