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Trusts & Asset Protection

Michalaki, Pitsillidou Law Firm > Trusts & Asset Protection

Asset Protection

 

Trusts & Asset Protection

Our team advises on the creation and administration of trusts in Cyprus. In this area, our clients include individuals wishing to set up trusts, beneficiaries and trustees. We advise on the choice of trustees/protectors, the tax position of trusts and the exercise of trust powers and indemnities. Review, analysis and development of estate plans for high-net-worth individuals, and the preparation of documents necessary to implement such plans. Wealthy individuals and their families are advised on how to structure their global wealth in order to protect it from antagonistic third parties, personal or family issues and preserve confidentiality for present and future generations. The team advises on the use of a variety of entities including onshore trusts, companies, foundations and private trust companies throughout the world.

 

The following benefits relate to Cyprus International Trusts:

  • trusts-law Cyprus Dividends, interest or royalties received by an International Trust from abroad are not taxable.
  • No reporting requirements in Cyprus for the International Trusts.
  • contribution or any other taxes in Cyprus
  • trusts-law Cyprus Income, gains and profits are exempted from income tax, capital gains tax, special
  • trusts-law Cyprus An International Trust may carry in business in Cyprus subject of course to the laws of the country which are imposed on the beneficiaries and not on the trust itself
  • trusts-law Cyprus Trust capital received in Cyprus by a foreigner resident or retired in Cyprus from trusts not resident in Cyprus is not taxable on the trustee
  • trusts-law Cyprus No exchange control regulations
  • trusts-law Cyprus No estate duty or inheritance tax in Cyprus

 

Our services:

  • trusts-law Cyprus Review, analysis, development and implementation of succession plans for owners of closely held businesses
  • trusts-law Cyprus Preparation and implementation of complex asset protection plans to minimize risks and transfer wealth and minimize taxes
  • trusts-law Cyprus Formation and administration of Cyprus International trusts or other off-shore trusts
  • trusts-law Cyprus Formation of charitable-contribution vehicles, including family foundations, donor-advised funds and direct gifts
  • inheritance issues
  • trusts-law Cyprus Making distributions to the beneficiaries
  • trusts-law Cyprus Provision of corporate trustees and other officers
  • trusts-law Cyprus Providing advice on family asset protection

 

 

 

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