1. INTRODUCTION
2. WHAT IS A TRUST?
3. TYPES OF TRUST
4. I.T.L.
5. TAXATION OF INTERNATIONAL TRUST
6. HOW A TRUST IS CREATED
7. WHERE THE TRUST FUND IS SITUATED
8. WHAT THE TRUST FUND INCLUDES
9. USES OF INTERNATIONAL TRUSTS
10. SUITABILITY OF CYPRUS
11. PROFESSIONAL EXPERTS REACTIONS

1. Short title
2. Interpretation
3. Validity of an international trust
4. Presumption against avoidance of an international trust
5. Duration of an international trust
6. Validity of direction for the accumulation of income
7. Charitable trusts and purpose trusts
8. Authorised investments
9. Power to change the applicable law of an international trust
10. Variation of an international trust by the Court
11. Confidentiality relating to international trusts
12. Taxation of international trusts
13. Application of this Law
14.   Saving of existing laws
15. Registration not compulsory

D. A trust which is set up in accordance with the ITL unless specifically and explicitly otherwise provided in the trust instrument, is considered to be:

• irrevocable by the settlor;

•   for a period of 100 years from its creation;

• empowers the trustees with wide powers to invest at their absolute discretion the whole or part of the trust fund exercising prudence and due diligence;

• allows the relocation of the trust and the change of the proper law of a foreign trust to the law of Cyprus and the Cyprus trust to adopt a foreign law;

• prohibits the disclosure of any information as to the settlor, the beneficiaries etc not only by the trustee but also by the Central Bank of Cyprus or any other government body, unless specifically ordered by a Cyprus Court in case if civil or criminal proceedings;

• the income of the trust may be accumulated for the entire duration of the trust (this cannot be excluded by the Settlor);

• a beneficiary is entitled to request the trustees to furnish him with information in relation to the accounts of the trust fund;

• the appointment of a “protector” or “guardian” is possible; and

• trust can be: discretionary, fixed, resulting, secret, trading or charitable

An international trust is always considered as validly created if at the time of its formation the Settlor is of sound mind and of full age.  No provisions of any inheritance or succession laws of any country in the world shall in any way effect the validity of a transfer or disposition of assets into the trust.  As far as asset protection is concerned an International Trust shall not be violable or void simply because the settlor becomes bankrupt after the disposition or the transfer of his assets.  The Creditor will have to prove (and the onus of proof lies with them).  Any action must be brought within two years from the date of the transfer of the property.