• Cyprus International Trusts Reborn
  • May 28, 2012 | Authors: Christos P. Kinanis; Vicky Petrides
  • Law Firm: Kinanis LLC Multidisciplinary law Firm. - Nicosia Office
  • In March 2012 the Cypriot House of Representatives enacted the long awaited International Trust (Amending) Law of 2012 effecting various structural changes to the International Trust Law of 1992. The amendments were necessary to adapt the Cyprus Law on Trusts, to the current needs of international investors and at the same time strengthening the role of Cyprus as a trust jurisdiction. A new favorable trust regime has been enacted ensuring that international investors, settlors and beneficiaries, enjoy the highest possible degree of protection and flexibility in a modern and attractive trust environment. This legal update summarizes the most significant amendments that may be of interest for the international investor considering to structure its business and personal affairs under a trust. This legal update along with all our other publications can also be downloaded from our website at http://www.kinanis.com/publications.html With the recent amendments in place the Cyprus International Trust Law has been reborn and at the same time Cyprus has become an important player and prime location for international trusts which deserve attention once the trust vehicle is amongst the options of international investors. Our Legal and Tax Departments are ready to assist you with any clarifications you might need and to provide relevant consultation on the future steps that need to be taken involving trusts structures.