Creation Benefits Cyprus International Trust: Our Firm has since 1979 been offering legal and corporate services and especially Trust and Asset protection services, to our international clients with great success. We will be thrilled to have you too as one of our valued clients. A well-known fact among the international financial community is that the Cyprus International Trust is a one of a kind legal vehicle for absolute secrecy, zero taxes and a 100% asset protection from third party claims even from foreign and local courts! For more information and advice on the creation of a Cyprus International Trust just follow this link.
Technical information about the Cyprus International Trust
- ZERO TAXES: A Cyprus International Trust (C.I.T.) is a powerful tool for cross-border tax optimization schemes. A C.I.T. can invest in any kind of assets such as real estate, securities, gold, Forex etc. and it will pay 0% Taxes on the profits of all or any of these commodities. Provided that they are made outside of Cyprus.
- FULL SECRECY: A Cyprus International Trust offers full secrecy to the Settlor as no one can force the Trustee to disclose any details of the Trust Property, the Beneficiaries, The Settlor, or any of the terms and provisions of the Trust. That is so even as against any order of any foreign court. Only a Cyprus Court has the power to order such disclosures and only on the application of an interested party, such as a Beneficiary or the Protector.
- ABSOLUTE PROTECTION OF ASSETTS: A Cyprus International Trust offers absolute protection to the Trust Property by raising a firewall of protection against any claims by third party against any Trust Property, even if that claim is represented by a valid Court Judgement of a foreign Court.
- VERSATILE TOOL: It is a versatile instrument which allows for fluent and practicable structuring without creating an iron restraint on the investor (settlor). On the contrary it allows manipulation and resettlement of goals and targets.
- LEGAL ENTITY NOT BEING A COMPANY: It is basically a legal entity without being a “company”, so the Cyprus Government does not have to report the Trust’s economic activity or Banking operations on the strength of the Automatic Exchange of Information treaty, signed by over 135 countries. A C.I.T. can act as a holding vessel for the shares of any company registered in Cyprus and to accept the profits (dividends) of that company at 0% tax!
Creation of a Cyprus International Trust
A CIT is created by the Cyprus International Trust Law, Law 69 (1)/1992 article 2, which provides that a Cyprus International Trust means:
- Settlor is not Tax Resident in Cyprus the year before the year in which the Trust is created.
- The Beneficiary is not Tax Resident in Cyprus the year before the year in which the Trust is created.
- Trustee during its existence is a Cyprus Tax Resident person.
Creation Benefits Cyprus International Trust: Your Presence is not required
A C.I.T. can be created and registered without your presence in Cyprus. It can also be operated for purposes of investments, opening a bank account for it, buying or selling trust property etc. without your presence. The Trustee can execute all the above through written instructions from you, by email, fax, letter or even telephone call.
Protection of Assets Firewall
One of the main and most important targets of Creation Benefits Cyprus International Trust.is the protection of the assets assigned to the Trust against any claims. Life is full of surprises good and bad. If you at some stage of your life have the bad luck to find yourself in economic troubles, the property set aside for your family and even for yourself cannot be touched or confiscated or blocked or frozen by creditors even through a foreign or local court decision or order. Article 3 (2) of Law 69 (1)/1992 also provides a full firewall of protection of the assets assigned to a C.I.T. as follows: Art 3 (2): Contrary to any Laws of Cyprus or any other country, no claim whatsoever can be raised as against any Assets of the Trust in case of bankruptcy of the Settlor or any court actions against the Settlor by any creditors.
Creation Benefits Cyprus International Trust
A Cyprus International Trust has many Tax and Legal Benefits as follows:
- It is indefinite: Art 5 (1) of Law 69 (1)/1992 provides: In connection with a Cyprus International Trust, there is no time limit for it being valid and binding. Of course a time limit can be provided.
- It pays no Taxes: Art 12 (1) of Law 69 (1)/1992 provides: All income of a Cyprus International Trust earned by a foreign beneficiary who is not Tax Resident in Cyprus is not taxed in Cyprus.
- Full Confidentiality: Art 11 (1) of the Law 69 (1)/1992 provides in short that no one including the Trustee, the Protector or any other person can reveal information to anyone about the identity of the Settlor, the Beneficiaries, the Trust Property, the Terms of the Trust, Accounts of the Trust, the reason of the creation of the Trust and generally anything about the Trust!
Legal Entity in Its Own Merit
A CIT upon its creation becomes a legal entity of its own, just like a natural person. It can hold movable and immovable property in any country and can be the owner of any company in any country. It can therefore act as a Holding Vessel, to accept dividends from any other company operating outside of Cyprus, completely free of tax! A normal Cyprus Holding Company will pay 17% defense tax on dividends from any company not situated in the EU! This way a Trust can operate a Hotel, a chain of restaurants, a chain of men`s clothes, a Bank, a shipping business etc.!
Termination of a Cyprus International Trust
A CIT can be terminated by the Settlor at any time without any penalties or other legal problems provided 3rd parties are covered. Art. 5 (1) of Law 69 (1)/1992.
Re-Domiciliation for a Cyprus International Trust
A C.I.T. can move its registered address from Cyprus to another count and also change the proper law (Governing Legal System) to that of any other country, at any time. Art. 9 of Law 69 (1)/1992.
Reasonable Setting Up Fees
Another advantage of the Cyprus International Trust is that it can be set up for a very reasonable fee and it can be operated and maintained also for very reasonable Trustee salary, legal fees and other expenses. Please ask for our quote for setting up and operating a Cyprus International Trust.
Custom Trust Especially for You
We can create a custom draft of your Cyprus International Trust in a few days and have it executed and registered as soon as it is approved by you. We can also open a bank account for your Trust in about 10 working days from the moment you provide the necessary documents requested by the Bank.
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