The long-awaited reform of the Cyprus International Trusts Law, a much-needed initiative, finally became reality in March 2012 with the enactment of the International Trust (Amending) Law of 2012. The amendments address a number of perceived deficiencies in the trust regime in Cyprus, bringing it back to the "cutting edge" internationally. They have been welcomed by practitioners and business leaders in Cyprus and abroad, and have received extensive positive comment in the local and international professional press. The International Trusts Law as amended ensures that settlors and beneficiaries enjoy the highest possible degree of protection, giving Cyprus the most modern and favourable trust regime in Europe and restoring it to the "premier league" of trust jurisdictions.
To view the special issue of our newsletter detailing the amendments please click here.
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