In order to become a modern and prestigious financial center and trust territory, Cyprus has established the so called “Cyprus International Trusts” (“CIT”), which have the following features:
In regard to taxation, the CIT offer the following advantages:
On the other hand, before complying with the European regulations relating to money laundering, a Trust Registry will be created which will record the information of the settlor, the beneficiaries and the trustee. However, access to these records will be limited to certain public entities in order to preserve confidentiality.
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