The concept of the trust as we know it in our days dates back to the Crusaders in the 12th Century and is based on the Anglo-Saxon legal system. It was devised to allow continuity of family property and succession in troubled times when the “master of the house” was off to war..
Asset protection by means of a Cyprus international trust (CIT) is a very effective legal way of placing assets of high net worth individuals beyond the reach of future potential creditors or other claimants. Except for using it for asset protection the CIT is used in many other situations, such as tax planning, estate planning, for wealth management, investment, for charitable purposes and other..
The law imposes a duty of confidentiality on the trustee, the protector, enforcer or any other person concerned as regards the identity of the settlor or of any beneficiary, the accounts and the assets of the trust etc. Such information can only be revealed by a court order in any civil or criminal proceedings if the court is convinced that such information is material to the outcome of proceedings relevant to the trust property or the parties to the trust.
To read more on Cyprus International Trusts, please download pdf below.