Termination of the Trust can be stipulated in the Trust deed, but is not mandatory. It can be specified as a specific date as well as occurrence of a specific event, like, death or birth of a specific person, graduation from college, marriage etc. Trusts whose termination is not specified in the Trust deed will be terminated according to the provisions of law.
There is no maximum restriction on the duration of Cyprus trusts unless otherwise provided for in the terms of the trust.
Revocation is the reserved power of the Settlor to cancel the trust and in such a case the trust assets be returned to him. By clear provision in the Cyprus International Trusts Law an international trust is deemed irrevocable. The trust may be revoked only if it is clearly stipulated so in the trust deed (which is not prohibited).
A Settlor’s right to revoke the trust may raise complications in that it may be easier to attack and classify as “sham” and consequently null and void. The property of a revocable trust may also be targeted and claimed by the Settlor’s creditors, which would not be possible in case of a irrevocable trust.
In order to qualify as Cyprus International Trust, the settlor must be a non-resident and the trust must be established for non-resident beneficiaries during the calendar year which precedes the year of the establishment of the Trust. At least one trustee must be a permanent resident of Cyprus.
(!) Subject to the complexity involved, the fees for drafting trust deed may be higher than our standard rates. The final costs will be subject to review and approval based on specific requirements and situation. We're happy to provide a detailed estimate once we have a full understanding of the scope.
In order to qualify as Cyprus Domestic Trust, the settlor or one of the beneficiaries must be a Cyprus resident. At least one trustee must be a permanent resident of Cyprus.
(!) Subject to the complexity involved, the fees for drafting trust deed may be higher than our standard rates. The final costs will be subject to review and approval based on specific requirements and situation. We're happy to provide a detailed estimate once we have a full understanding of the scope.
Appointing an Investment Advisor is not mandatory for establishing Trust, but to ensure that trust assets are most prudently utilized, you can appoint an Investment Advisor who will see to the investments of the trust assets. Fidesta does not provide investment advisory services, therefore if you choose to appoint an Investment Advisor for the Trust, you will have to provide an Investment Advisor on your part.
Appointing a Legal Advisor is not mandatory for Cyprus Trust, but for your own security and peace of mind you can appoint a Legal Advisor who will see to the legal matters of the trust and its assets.
Fidesta oes not provide legal services, therefore,if you choose to appoint a Legal Advisor for the trust, you will have to provide a Legal Advisoron your part.
Professional fee for preparation, execution and filing of an account application in Cyprus. Includes all reasonable follow-up assistance. Significant client input is required. Banks have their own client-acceptance rules and we can not influence them. Success with the account opening is not guaranteed. Account acceptance mostly depends on the personal and business profile of the client. In case account application is rejected by the bank, no refunds are provided.
Bank account introduction fee is one-time fee.
(!) An annual bank introducer fee / introducing agent fee (€ 150) applies from the second year.
(!) When Cyprus based director is provided by Fidesta Ltd and is appointed as bank account signatory, annual account signatory fee (€ 300) applies starting from second year and the bank introducer fee (€ 150) is waived.
Professional fee for preparation, execution and filing of an account application outside Cyprus. Includes all reasonable follow-up assistance. Significant client input is required. Banks have their own client-acceptance rules and we can not influence them. Success with the account opening is not guaranteed. Account acceptance mostly depends on the personal and business profile of the client. In case account application is rejected by the bank, no refunds are provided.
Bank account introduction fee is one-time fee.
(!) An annual bank introducer fee / introducing agent fee (€ 150) applies from the second year.
(!) When Cyprus based director is provided by Fidesta Ltd and is appointed as bank account signatory, annual account signatory fee (€ 300) applies starting from second year and the bank introducer fee (€ 150) is waived.
A bound set of all primary documents of the Trust, certified as true copies by certification officer (notary) and legalized by Apostille. Recommended, if the documents are required for presentation outside Cyprus.
Instead of keeping confidential and sensitive original documents at your home, you may choose to leave them in safe custody with the Registered Agent. Scanned electronic copies can be provided at any time, or the original documents can be couriered out at request.
One name approval is included in package, should the name be rejected each additional name check is charges at €50 plus VAT. Name approval usually takes 4-5 days.
These company names have been approved for registration by the Registrar.
Company shareholder data is on public registry in Cyprus. This service shields that information. Provided by a licensed corporate custodian. Annually recurring fee.
Shareholding service, provided by a licensed private individual. Appears more natural and elegant. Less costly in long term, due to easier documentary requirements for third-party compliance purposes. Annually recurring fee.
Company shares will be issued directly in your name. You will be seen as company shareholder on public registry. Acceptable for passive holding companies and where shareholder confidentiality is not a concern. Includes the official fees to obtain a new shareholders' certificate from the Registrar of Companies.
Standard authorized share capital of the company is 1000 euro, divided into 1000 common shares of one class, of € 1.00 each, out of which a minimum of 1 share must be issued.
Standard authorized share capital of the company is 1000 euro, divided into 1000 common shares of one class, of € 1.00 each, out of which a minimum of 1 share must be issued. If you require a different share capital or structure, select this option. Additional legal fees may apply for very complex capital structures, such as multiple share classes, hybrid structures, or if change in capital structure needs to be effected to an existing company.
Directorship service, provided by a licensed corporate management firm. Less costly than the individual directorship service, but has a typical artificial appearance. May involve more complex documentation for third-party compliance updates, thus more disbursements down the line. Annually recurring fee.
Essential for the company to demonstrate tax residence and management in Cyprus. Provided by a licensed resident individual. Includes bank signatory service for the first year. Annually recurring fee.
Company director has significant legal responsibilities under the law. Full identification and written consents will be required. Appointment of foreign director may cause the company to be treated as tax-resident in the country where the director actually resides.
Professional fee for preparation, execution and filing of an account application in Cyprus. Includes all reasonable follow-up assistance. Significant client input is required. Banks have their own client-acceptance rules and we can not influence them. Success with the account opening is not guaranteed. Account acceptance mostly depends on the personal and business profile of the client. In case account application is rejected by the bank, no refunds are provided.
Bank account introduction fee is one-time fee.
(!) An annual bank introducer fee / introducing agent fee (€ 150) applies from the second year.
(!) When Cyprus based director is provided by Fidesta Ltd and is appointed as bank account signatory, annual account signatory fee (€ 300) applies starting from second year and the bank introducer fee (€ 150) is waived.
Professional fee for preparation, execution and filing of an account application outside Cyprus. Includes all reasonable follow-up assistance. Significant client input is required. Banks have their own client-acceptance rules and we can not influence them. Success with the account opening is not guaranteed. Account acceptance mostly depends on the personal and business profile of the client. In case account application is rejected by the bank, no refunds are provided.
Bank account introduction fee is one-time fee.
(!) An annual bank introducer fee / introducing agent fee (€ 150) applies from the second year.
(!) When Cyprus based director is provided by Fidesta Ltd and is appointed as bank account signatory, annual account signatory fee (€ 300) applies starting from second year and the bank introducer fee (€ 150) is waived.
This service offers businesses operating remotely a secure and reliable way to handle their documents and packages, providing a physical business address in Cyprus. It enables clients to receive mail and documents, which can be forwarded to any location they choose, and also allows them to send out their own commercial documents from the Cypriot address. Along with these core functions, it includes standard virtual office amenities like mail forwarding. The service is priced at €500 per year (plus vat), with additional fees for mail and document forwarding as needed.
Personalized call handling through a Cyprus telephone number. Annually recurring fee. Additional disbursements may apply subject to usage.
All active Cyprus companies must keep full books and records, conduct proper accounting, prepare and file tax returns and pay actual tax as and when applicable.
Our fees can be agreed in advance depending on the activities, volume and complexity of transactions.
Audited financial statements must be prepared for all active Cyprus companies and must be filed on annual basis with the Cyprus registrar of companies and Cyprus tax authority.
Our fees can be agreed in advance depending on the activities, volume and complexity of transactions.
A bound set of all primary documents of the company, certified as true copies by certification officer (notary) and legalized by Apostille. Recommended, if company documents are required for presentation outside Cyprus.
Through a Special Power of Attorney, you, or anyone else, can be granted certain limited rights to represent the company. For instance, the powers to negotiate and conclude one specific purchase, to perform customs-clearance of goods in one certain location, to register a foreign subsidiary, to operate one specific bank account, etc. Special Powers of Attorney can be issued as, and when necessary to company employees, agents or to the owners themselves.
(!) Usage of Powers of Attorney may be risky and result in tax liability! Many high-tax countries impose local taxation on individuals who act through a Power of Attorney, issued by an offshore company! Please carefully consider your tax circumstances before choosing this option!
A Certificate of Good Standing is issued by the Registrar of Companies upon demand. The CGS evidences that the company still exists in the Registry, has not been struck-off and is not in liquidation. Fresh Certificates of Good Standing are often required by banks and financial institutions. Usually not necessary for a newly registered company. Recommended for existing companies over 6 months of age.
A Certificate of Good Standing is issued by the Registrar of Companies upon demand. The CGS evidences that the company still exists in the Registry, has not been struck-off and is not in liquidation. Fresh Certificates of Good Standing are often required by banks and financial institutions. Usually not necessary for a newly registered company. Recommended for existing companies over 6 months of age.
If the document is intended for use in a country other than the country of company registration, it must be legalized by apostille.
A certificate, issued by the registered agent of the company. Shows, in one document, the current actual composition of the company, including its address, capital, shareholders and directors. Can be issued upon demand as and when needed. Sometimes required by banks and financial institutions.
A certificate, issued by the registered agent of the company. Shows, in one document, the current actual composition of the company, including its address, capital, shareholders and directors. Can be issued upon demand as and when needed. Sometimes required by banks and financial institutions.
If the document is intended for use in a country other than the country of company registration, it must be legalized by apostille.
Obtain VAT number. May be required when the company trades actively and must account for the Value Added Tax.
May be required for companies that hold financial assets, such as bonds and stocks.
A Certificate, issued by the Cyprus Tax Department, evidencing that the company is tax-resident in Cyprus. Includes €80 application processing fee. May sometimes be required in order to resolve tax disputes outside Cyprus.
Instead of keeping confidential and sensitive original documents at your home, you may choose to leave them in safe custody with the Registered Agent. Scanned electronic copies can be provided at any time, or the original documents can be couriered out at request.
