Cyprus has long been established and recognised as an international financial centre for shipping, banking and corporate business. The demand for practical international tax planning solutions by entrepreneurs continues to increase, and the choice of location for the operation of their businesses plays a key role in their decisions.
The use of the trust as a vehicle of international tax planning and business structuring is continuously growing. Trusts are used today more than ever before in a myriad of circumstances, many of which would have been impossible to conceive at the time the concept was originally conceived.
Cypriot trusts are effective vehicles for channelling income to and from companies in different jurisdictions. Cyprus is in an optimal position to use companies in conjunction with Cypriot offshore trusts.
Trusts are created for numerous reasons, including: