Trusts Formation & Management
Cyprus International Trust Services: Expert Formation & Management Solutions
At Next Gen Accounting Cyprus (NGACY), we bring extensive expertise in the formation and management of Cyprus International Trusts. These trusts offer an exceptional legal and financial framework for individuals looking to safeguard their wealth and reduce their tax burdens. Our dedicated team provides professional trustee services, ensuring that assets are efficiently structured and managed according to the highest standards of confidentiality and security.
Why Establish a Cyprus International Trust?
A Cyprus International Trust provides unique advantages, particularly for individuals (settlors) residing in high-tax jurisdictions. By transferring assets—ranging from movable property and shares to cash—into a Cyprus International Trust, individuals can reduce their tax liability by benefiting from Cyprus's favorable double taxation treaty network.
Additionally, the confidentiality of such trusts is unparalleled. Unlike many jurisdictions where wills are made public upon death, the Deed of Trust remains private between the involved parties, ensuring that sensitive financial information remains undisclosed.
Our Trust Formation & Management Services Include
We handle all aspects of establishing a trust, ensuring it aligns with your financial and legal objectives.
Tax Planning & Compliance
Benefit from our in-depth knowledge of Cyprus’s tax system. We ensure that your trust takes full advantage of the double taxation treaty network, minimizing liabilities.
FAQs
What is a Cyprus International Trust?
A Cyprus International Trust is a legal arrangement where assets are transferred by a settlor to a trustee, who manages them for the benefit of one or more beneficiaries. It is highly advantageous for tax planning and wealth management purposes, particularly for those residing in high-tax jurisdictions.
Are Cyprus International Trusts taxed?
No, trusts and their beneficiaries are not subject to tax in Cyprus. Furthermore, no Capital Gains Tax is paid by International Trusts, and distributions to beneficiaries are tax-exempt.
Is my trust’s information kept confidential?
Yes, one of the major advantages of a Cyprus International Trust is its confidentiality. Unlike many other jurisdictions, the Deed of Trust remains private and is not required to be registered or published, ensuring that the trust’s financial details stay confidential.
Can a Cyprus International Trust be revoked?
Yes, depending on how it is structured, a Cyprus International Trust can be either revocable or irrevocable, depending on your needs.