Cyprus International Trust is a very useful tool for both tax planning purposes and asset protection. It offers its creators as well as its beneficiaries a string of benefits, including flexibility and robustness, allowing at the same time the handling of simple to very complex situations.
The heritage from the English Law is evident in the Trustees Law of Cyprus (cap 193) and the International Trusts Law of 1992 (Law 69(I)/1992 and Law 20(I)/2012). This provides for a strong legal framework to operate upon as well as the experience from the years of application.
So the creator/settlor has in his/her hands a vehicle where it can for example hold property for underage beneficiaries and ensuring the property remains within the family for generations to come. It can also provide secrecy and protection from third parties. Trusts are also widely used for charity purposes.