Nikolai Timofejev
15 years in FinTech and payments. Maps your business model to the right licence scope and leads the file all the way to the trust establishment, including banking and payment rails.
Set up a trust in Cyprus.
Europe's most used common-law trust inside the union: the Cyprus International Trust under Law 69(I)/1992 as amended in 2012 - a reformed regime with strong asset-protection provisions, supervised fiduciary service providers regulated by CySEC, and the beneficial ownership register of express trusts that keeps it compliant rather than opaque.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Licenses obtainedlicenses obtained
Updated
Cyprus in brief
A common-law trust with an EU passport-holder as trustee.
Cyprus inherited English trust law and then rebuilt it for modern use. The International Trusts Law 69(I)/1992 was substantially amended by Law 196(I)/2012, and the 2012 reform is what made the jurisdiction competitive: clearer settlor reservations of power, stronger protection against foreign claims, and the removal of restrictions that had made the original regime awkward. The trust itself is not licensed - it is a legal relationship created by deed, but the professionals who act as trustee are: fiduciary and administrative service providers are regulated by CySEC under the ASP framework, and the beneficial ownership register of express trusts is maintained by the same regulator. That combination is precisely what a modern trust needs: common-law flexibility with supervised trustees and a compliance trail.
The practical case is the union. A Cyprus trust sits inside an EU member state, so its trustee is an EU-regulated professional, its bank accounts are EU accounts and its documents are read without hesitation by European counterparties. Cyprus adds an unusually favourable tax environment for the trust layer, a legal profession trained in English law, and English as a working language throughout. For succession planning across European and CIS families, for holding structures above operating businesses, and for asset protection that needs to survive scrutiny rather than hide from it, the Cyprus International Trust is the workhorse instrument. We draft the deed, appoint the trustee and build the structure around it.
A common-law trust inside the union: the Cyprus International Trust under Law 69(I)/1992 as amended by L.196(I)/2012 - clarified settlor reservations, strong protection provisions, CySEC-regulated fiduciaries as trustees.
The trust is drafted, not licensed; the trustee is supervised, and beneficial ownership of express trusts is registered. Private, not secret, which is why it survives review.
The two builds
The international trust - or the trust with a private company.
A trust is drafted, not licensed. What varies is who holds the trustee role and what sits under the trust. We design both.
The trust itself - or the trust over a holding company.
01 - CYPRUS INTERNATIONAL TRUST
The core structure
The trust established by deed under Law 69(I)/1992 as amended. Settlor powers reserved as far as the Law permits, a CySEC-regulated fiduciary as trustee and the beneficiary class defined for the family's actual shape.
The trust established by deed under Law 69(I)/1992 as amended. Settlor powers reserved as far as the Law permits, a CySEC-regulated fiduciary as trustee and the beneficiary class defined for the family's actual shape.
- ✓Established by trust deed
- ✓Law 69(I)/1992, amended 2012
- ✓CySEC-regulated trustee
- ✓Settlor reservations per the Law
- ✓Protector role where wanted
- ✓Registered per the express-trust rules
02 - TRUST + HOLDING COMPANY
The full structure
The trust holding a Cyprus or foreign holding company that in turn owns the operating assets. The standard architecture for families with businesses rather than only portfolios.
The standard family architecture: trust over a holding company that owns the operating assets, with EU banking and planned dividend flows.
- ✓Trust over a holding company
- ✓Operating assets one layer down
- ✓EU-resident corporate layer
- ✓Dividend flows planned
- ✓Succession without probate
- ✓Bank accounts at EU institutions
Reflects Law 69(I)/1992 as amended by L.196(I)/2012 and the CySEC framework for fiduciary service providers as of 2026.
Why Cyprus
Six reasons families choose the Cyprus trust.
✓
Common law inside the EU
An English-derived trust in a member state. The flexibility of the instrument with the standing of union membership.Flexibility with standing.
✓
The 2012 reform
Law 196(I)/2012 modernised settlor powers and protection provisions. The regime in use today is the reformed one.The modern regime.
✓
Regulated trustees
Fiduciary service providers are CySEC-regulated, so the trustee is a supervised professional rather than an unaccountable name.Supervised, accountable.
✓
A compliance trail
The beneficial ownership register of express trusts keeps the structure defensible. Transparency to authorities, privacy from the public.Private, not secret.
✓
English throughout
Documentation, courts and advisers work in English, with a legal profession trained in the same tradition as the instrument.Courts and counsel.
✓
A favourable tax frame
Cyprus's treatment of trusts and their beneficiaries is among Europe's most workable. Modelled per family, not assumed.Modelled per family.
How it compares
How Cyprus differs from other trust jurisdictions.
The comparison that matters: the EU option. Supervised, transparent to authorities, and cheaper than the Crown Dependencies.
Cyprus vs other trust jurisdictions
| Feature |  Cyprus | Other jurisdictions |
|---|---|---|
| Legal base | Law 69(I)/1992, amended 2012 | Trust laws of 1984-2003 |
| Position | Inside the European Union | Crown Dependencies, Caribbean |
| Trustee | CySEC-regulated ASP | Licensed fiduciaries |
| Cost level | Mediterranean | Channel Islands pricing |
Legal base
CyprusLaw 69(I)/1992, amended 2012
Other jurisdictionsTrust laws of 1984-2003
Position
CyprusInside the European Union
Other jurisdictionsCrown Dependencies, Caribbean
Trustee
CyprusCySEC-regulated ASP
Other jurisdictionsLicensed fiduciaries
Cost level
CyprusMediterranean
Other jurisdictionsChannel Islands pricing
Country by country
| Country | Instrument | Trustee regulation | Notes |
|---|---|---|---|
| Cyprus | International trust | CySEC-regulated ASPs | EU member state |
 Jersey | Jersey trust - 1984 Law | JFSC trust company business | Crown Dependency |
 Guernsey | Guernsey trust | GFSC fiduciary licence | 56-day licence decision |
 BVI | VISTA trust - 2003 Act | Licensed BVI trustee | Holds BVI company shares |
CyprusInstrumentInternational trust
Trustee regulationCySEC-regulated ASPs
NotesEU member state
JerseyInstrumentJersey trust - 1984 Law
Trustee regulationJFSC trust company business
NotesCrown Dependency
GuernseyInstrumentGuernsey trust
Trustee regulationGFSC fiduciary licence
Notes56-day licence decision
BVIInstrumentVISTA trust - 2003 Act
Trustee regulationLicensed BVI trustee
NotesHolds BVI company shares
Before you establish
What a Cyprus trust actually requires.What establishment requires.
The trust is a document, but the structure around it is real work. The checklist below is what a sound establishment covers.
01
Trust deed. Drafted to the family's actual succession intention, not from a template.
02
Settlor position. Reservations of power taken only as far as Law 69(I)/1992 as amended permits.
03
Trustee appointment. A CySEC-regulated fiduciary service provider, with terms and fees agreed.
04
Beneficiary class. Defined with enough precision to work and enough flexibility to survive changes in the family.
05
Protector. Where the family wants a check on the trustee, with powers drafted rather than borrowed.
06
Source of wealth. Documented properly, because every bank and registry will ask.
07
Registration. Beneficial ownership details filed per the express-trust register rules.
08
Underlying structure. The holding company and asset layer designed with the trust, not after it.
09
Banking. Accounts opened at EU institutions in the trust's or the company's name.
10
Tax position. Settlor, trust and beneficiary treatment modelled across every relevant residence.
11
Ongoing administration. Accounts, distributions and records maintained to the trustee's standard.
01
Deed drafted to intention.
02
Reservations within the Law.
03
CySEC-regulated trustee.
04
Beneficiary class defined.
05
Protector where wanted.
06
Source of wealth documented.
07
Register obligations met.
08
Holding layer designed.
09
EU banking opened.
10
Tax modelled everywhere.
11
Administration maintained.
Reflects Law 69(I)/1992 as amended and the CySEC express-trust register framework as of 2026. Cross-border tax treatment is modelled per family.Law 69(I)/1992 as amended, 2026.
How it works
From first call to a trust that works.
01
Intention and map
Family, assets, residences and objectives. The inputs that decide whether a trust is even the right instrument.Is a trust right?
02
Design
Trustee, protector, beneficiary class and the underlying holding structure designed as one.All layers together.
03
Drafting
The deed written to the reformed Law. Reservations, powers and distribution mechanics specific to the case.Specific, not template.
04
Establishment
Trustee appointed, assets settled, register obligations met, banking opened.Settled and banked.
05
Administration
Records, accounts and distributions run to standard. A trust that survives review years later.Survives review.
Quick facts
InstrumentCyprus International Trust
StatuteLaw 69(I)/1992
Key amendmentL.196(I)/2012
TrusteeCySEC-regulated ASP
RegisterExpress trusts, beneficial owners
LanguageEnglish
EstablishmentWeeks, not months
PositionEU member state
A trust is only as good as its deed and its trustee. Template deeds fail exactly when they are finally needed.
On the ground in Cyprus
Run from our Limassol office.
Prifinance - Cyprus
Limassol · Cyprus
Limassol, Cyprus
01
Intention first
What the family actually wants to happen. Succession, protection, control. Mapped before any deed is drafted.Before any drafting.
02
The deed
Drafted to the reformed Law, with settlor reservations and protector powers written for this family.Written for this family.
03
Trustee and registration
A CySEC-regulated fiduciary appointed and the express-trust register obligations handled.Regulated, appointed.
04
Structure and banking
The holding layer and EU accounts built with the trust. One coherent architecture.One architecture.
We also have offices in
Tallinn
Estonia
Roseni 13
Vilnius
Lithuania
Gedimino pr. 2
Prague
Czech Republic
Vlkova 532/8, Žižkov
Dubai
UAE
33 Level, Al Saqr Business Tower
London
United Kingdom
7 Bell Yard
Madeira
Portugal
Rua da Alegria 31, 1F
Istanbul
Turkey
Perpa Ticaret Merkezi, A Blok
Good to know
Taxation of Cyprus trusts.
Favourable by design, and always modelled across the residences that actually matter.
The trust layer
Cyprus's treatment of international trusts is among Europe's most workable. The position is confirmed against current law per structure.Favourable, confirmed.
Beneficiary residence decides
Where beneficiaries live usually matters more than where the trust sits. We model each relevant country, not just Cyprus.Residence matters most.
The corporate layer
A Cyprus holding company under the trust brings 12.5% corporate tax, the participation exemption and no withholding on outbound dividends.12.5% + exemption.
Treaty access
Cyprus's treaty network supports the corporate layer. The trust benefits indirectly through clean company-level flows.Clean company flows.
Reporting, not secrecy
Beneficial ownership reporting and exchange of information apply. The structure is built to be disclosed correctly, not hidden.Disclosed correctly.
Modelled per family
Settlor, trust and beneficiaries can sit in three different tax systems. The design accounts for all of them at the start.Three systems modelled.
Tax summary
Trust layerPer Cyprus law, confirmed
Corporate layer12.5% · participation exemption
Outbound dividendsNo Cyprus withholding
ReportingBeneficial ownership register
Planning levelSettlor · trust · beneficiaries
*Position as of 2026. Cross-border outcomes are modelled with advisers in each relevant residence before the deed is signed.
Turnkey professional support
Experienced lawyers and international consultants.
We provide end-to-end support, from company registration and the application file to regulatory interaction and compliance oversight - with an individualized approach to each client.
Oleksii Kindratenko
Builds the application itself: Cyprus structure, AML/KYC policy pack, capital structure and tax registrations. His document sets are the reason reviews finish in months, not years.
Eugeniu Bevziuc
First point of contact for international founders. Runs the whole setup remotely, across time zones and languages - from the first call to a working trust.
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Set up your Cyprus trust with expert support.
Full-service assistance - from intention mapping and deed drafting to trustee appointment, registration and banking - run through our Limassol office.
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Is a Cyprus trust right for your family?
Our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, structure, or route fits your situation.
Written assessment within 2-5 business days
Request a free conclusion →FAQ
The Cyprus trust: quick answers.
What is a Cyprus International Trust?+
A trust established under the International Trusts Law 69(I)/1992, substantially amended by Law 196(I)/2012 - an English-derived trust operating inside an EU member state, used for succession planning, asset protection and holding structures.
Is the trust itself licensed?+
No - a trust is a legal relationship created by deed, not a licensed entity. What is regulated is the trustee: fiduciary and administrative service providers are supervised by CySEC under the ASP framework.
What did the 2012 amendment change?+
Law 196(I)/2012 modernised the regime - clarifying the powers a settlor may reserve, strengthening protection against foreign claims and removing restrictions that had limited the original 1992 law. The regime in use today is the reformed one.
Is a Cyprus trust confidential?+
It is private, not secret. Beneficial ownership information for express trusts is registered with the regulator and available to authorities under the applicable rules; it is not a public directory. Structures built for secrecy rather than privacy fail modern review.
Can the settlor keep control?+
To the extent the Law permits - reservations of power were clarified by the 2012 amendment. But a trust where the settlor keeps everything is not a trust, and courts and tax authorities treat it accordingly. We draft to the line, not past it.
Who should be trustee?+
A CySEC-regulated fiduciary service provider in almost all cases. Family members as sole trustees create succession and independence problems precisely when the structure is tested.
How long does establishment take?+
Weeks rather than months once the intention is clear - the drafting and the source-of-wealth documentation set the pace, not the registry.
How are Cyprus trusts taxed?+
Cyprus's treatment of international trusts is favourable and confirmed per structure, but the decisive question is usually where the settlor and beneficiaries are resident. We model every relevant jurisdiction before the deed is signed.
Cyprus or Jersey?+
Jersey and Guernsey carry the deepest fiduciary infrastructure and the highest fees; Cyprus offers an EU-supervised trustee, English-language practice and Mediterranean cost. Family location and asset profile decide - we model both.
Why Prifinance for a Cyprus trust?+
Deeds drafted to the reformed Law for the actual family, a regulated trustee appointed properly, and the holding structure designed with the trust rather than bolted on afterwards.
What is it?+
Trust under Law 69(I)/1992.
Licensed?+
No - the trustee is.
2012 change?+
Powers and protection.
Confidential?+
Private, not secret.
Settlor control?+
Only as the Law allows.
Who is trustee?+
A regulated fiduciary.
How long?+
Weeks, once intent is clear.
Taxes?+
Beneficiary residence decides.
Or Jersey?+
Cost vs infrastructure.
Why you?+
Deeds, not templates.
Client notes
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Prifinance is an independent law and advisory firm. We are not a regulator and are not affiliated with, endorsed by, or acting on behalf of CySEC or any other public authority. Authorisations are granted by, and obtained directly from, the competent authorities.