Protection against high tax
In high tax jurisdictions it is possible to minimize tax on income/wealth by transferring property to a Cyprus International Trust. With a proper tax structure and the beneficial double taxation treaty network Cyprus has with many countries, tax benefits are significant.
Holding property that cannot personally be held
Under some laws a minor who is not of legal age may not be able to have property registered in his own name but the property can be held in a trust for the minor’s benefit.
Protection against profligate future generations
A trust is a useful tool which can protect the assets of a family for future generations to avoid profligate future generations from carelessly wasting the assets of the family.
Charities
A Cyprus international Trust can be set up to provide for a charity or other not for profit organization or simply to promote a worthy cause.
Protection of assets
Assets can be placed in a Cyprus International Trust to protect the assets and the interests of the beneficiary from law suits, negative economic conditions such as high inflation rates, weak currencies or unstable political factors.
Transferring of personal assets
For tax or other reasons personal assets may be transferred to a Cyprus Trust.
Investing in business overseas
For an individual who wishes to invest overseas, a Cyprus Trust can be set up and the profits and dividends received from the overseas business may be not remitted to the country of his residence.
Estate planning
A trust is a useful tool which can be used for transferring assets to a beneficiary who would otherwise not be allowed any inheritance due to the laws of the country i.e laws which state that only surviving family members are entitled to the estate of the deceased and there is a limit on the amounts which can be given to non-family members. It is important to note that all matters which relate to a Cyprus International Trust are determined in accordance with the laws of the Republic of Cyprus and the Cyprus Courts have jurisdiction.
