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Cypriot trusts are effective vehicles for channelling income to and from companies in different jurisdictions. Recent corporation tax changes have placed Cyprus in a good position to use companies in conjunction with Cypriot offshore trusts. The International Tax Law 1992 introduced a special set of rules for International Trusts , subject to specific requirements. Taxation of International Trusts is abolished completely and the only tax obligation is a stamp duty on the instrument creating the trust. The gains of an international trust from sources outside the Republic are exempted from all taxes in the Republic and no estate duty is chargeable in respect of assets belonging to the trust. Our law firm is fully acquainted with the new law and has had practical experience applying it. We are in a position to assist in the creation of international trusts of any complexity. Members of the firm offer to act as trustees of the trust.
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