What is a Cyprus International Trust?
Cyprus International Trusts are governed by the International Trusts Law, 1992 which regulates the establishment and administration of International Trusts. Under this law, Cyprus International Trusts are defined as those where:
- The settlor is not a permanent resident in the Republic of Cyprus;
- At least one of the trustees during the whole duration of the trust is a permanent resident in the Republic of Cyprus;
- No beneficiary other than a charitable institution is a permanent resident of the Republic of Cyprus; and
- The trust property does not include any immovable property situated in the Republic of Cyprus