Languages: English, Greek
Currency: Euro
Time Zones: GMT + 2 hours
International Airports in Larnaca and Paphos
Cyprus Quick Facts
Why Cyprus Trust?
- Total Tax Exemption
- High level of confidentiality
- No obligation to register
- Competitive price
Requirements
- Bank Reference
- Proof of Residence
- Notarised Passport Copies
For corporate entities: Notarised and apostilled corporate documents
Bank Account
Our firm will assist you with the opening of a Bank Account for your Trust with
Laiki Bank, Cyprus
FBME, Cyprus
VP Bank, Luxembourg
BGG, Switzerland
Laiki Bank, Cyprus
FBME, Cyprus
VP Bank, Luxembourg
BGG, Switzerland
NEWS
- November 16, Dubai: Emirates will invest Dh400 million to establish a flight training centre at the Dubai World Central development in Jebel Ali to train local pilots. (Gulf News).
- October 5, Ras Al Khaimah: The Ras Al Khaimah Tourism Investment and Development Authority (RAK TIDA) aims to double visitor numbers to the emirate in the next two years. (Hotelier Middle East).
- September 23, Ras Al Khaimah: RAK FTZ was ranked nr. 4 out of more than 115 international free zones in Middle East (Khaleej Times).
- September 20, Ras Al Khaimah: Ras Al Khaimah registered 800 new licences in the last eight months, a 31% increase over the same period last year, according to the RAK Investment Authority (Rakia).
- September 5, Dubai:
The UAE banks are well capitalised and banking sector in the country will remain on its road to recovery heading into next year (Khaleej Times).
- July 27, Dubai: Dubai International Financial Centre (DIFC) Authority, the firm running the emirate's tax-free business park, said that 64 companies joined the free zone in the first half of the year (Arabian Business).
- June 15, Dubai: Tax-free returns on property income are enticing an increasing number of Indian investors into Dubai's property market (India Infoline).
- May 20, Dubai: DMCC recently announced it had crossed the 3,000 mark in the number of companies that have registered in the free-zone. Since the beginning of 2011, DMCC grew at an average of over 100 companies a month (Gulf News).
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CYPRUS INTERNATIONAL TRUST
Cyprus Trust Law is based on English Common Law, the Trustee Law Cap
193 which is virtually identical to the English Trustee Act 1925, and
the International Trust Law 1992. In the early 1990’s the Cyprus
Government in an effort to promote Cyprus Trusts enacted the
International Trust Law.
An International Trust is defined as a Trust in respect of which:
(a) The settlor is not a permanent resident in Cyprus,
(b) At least one of the trustees is permanent resident in Cyprus,
(c) The beneficiaries, other than a charitable institution, are not permanent residents in Cyprus,
(d) The trust property does not include any immovable property situated in Cyprus.
It is possible to form the following types of trusts:
Discretionary trust
Fixed trust
Combined (discretionary and fixed) trust
Trading trust
Purpose trust
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