Trusts are very flexible instruments popular for international tax planning and asset protection including inheritance purposes. A trust is set up by a Deed of Settlement. The trust arrangement entails vesting of the trust property in the trustee by its previous owner (the Settlor) and imposes an obligation on the holder of property (the Trustee) to manage that property (the trust property) for the benefit of another (the Beneficiary).
For a valid Cyprus International Trust to be created:
- The Settlor and the Beneficiary are not residents of Cyprus in the year preceding the year of the trust creation
- At least one of the trustees is at all times a resident of Cyprus
- Trust property may include movable and immovable property located anywhere in the world
CPM is a pioneer in the field of Trustee Services in Cyprus. It enjoys the prestige and respect of both clients and competitors as it was amongst the first providers of Trustee services in the island and maintains an unblemished record of Trustee conduct.
CPM has been involved in the setting and administration of Trusts since its inception in 1996. We provide unmatched industry expertise and reliable service to clients from all over the world.
We are committed to provide services of the highest standard. We can assist with the establishment and administration of trusts, ensuring full confidentiality. In collaboration with specialist trust lawyers, we set up a wide variety of trusts, from simple to complex structures, including discretionary trusts, purpose trusts, and trusts involved in employee bonus schemes, always in accordance with the individual’s personal circumstances and requirements.
CPM top management are members of the International Society of Trust and Estate Practitioners (STEP), which is the leading worldwide professional body for practitioners in the fields of trusts, estates and related issues.
Trustee Services include:
- Assist with the establishment and administration of local and international trusts including discretionary trusts, purpose trusts, and trusts involved in employee bonus
- Act as Corporate Trustee
- Make distributions to beneficiaries in accordance with the instructions of the Settlor
- Open and manage all bank accounts in Cyprus and abroad
- Maintain the trust’s accounting records
- Liaise with fund managers for the operation of investment accounts