Local trusts and international trusts are the same structure but they are governed by the International Trust Law. The difference is that with international trusts the beneficiaries must be non-residents of Cyprus and that they are registrable with no time duration.
Cyprus was brought into line with other major international trust settings by the International Trusts Law of 1992 as amended. Settlor and beneficiaries each must be non-residents of Cyprus, though one of the trustees can be a Cyprus citizen. Typically, international trusts have legal and tax-related advantages.
Local trusts and international trusts are the same structure but they are governed by the International Trust Law. The difference is that with international trusts the beneficiaries must be non-residents of Cyprus and that they are registrable with no time duration.
Cyprus was brought into line with other major international trust settings by the International Trusts Law of 1992 as amended. Settlor and beneficiaries each must be non-residents of Cyprus, though one of the trustees can be a Cyprus citizen. Typically, international trusts have legal and tax-related advantages.
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