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

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

1. Interpretation
In this Law, unless the context otherwise requires: “Court” means the President of a District Court or a Senior District Judge of the district where the trustees or the trustee of the International Trust or any one of them who reside in the Republic have their residence;
“International Trust” means a trust in respect of which:

1. the settlor is not a permanent resident in the Republic.

2. at least one of the trustees for the time being is, during the whole duration of the trust, a permanent resident in the Republic
3. no beneficiary other than a charitable institution is a permanent resident of the Republic,
4. the trust property does not include any immovable property situated in the Republic:

PROVIDED THAT a trust shall not fail to qualify as an international trust by reason only that either the settlor or the trustee mentioned in paragraph (b) or any one or more of the beneficiaries is a partnership or company qualifying under Section B Y and Section 28 A respectively of the Income Tax Laws:

58/1961, 4/1963, 21/1966, 60/1969, 47/1973, 37/1975, 12/1976, 15/1977, 8/1979, 40/1979, 24/1981, 41/1983, 33/1984, 76/1984, 14/1985, 73/1985, 180/1986, 163/1987, 301/1987, 26/1988, 109/1988, 133/1988, 173/1988, 233/1988, 14/1989, 39/1989, 101/1989, 137/1989, 77/1990, 225/1990, 226/1990, 245/1990, 58/1991, 174/1991, 240/1991

“Immovable Property” has the meaning given to this term in the Trustee Law;
“Purpose Trust” or “Trust for a purpose” means a trust other than:

1. a trust with beneficiaries being particular natural or legal persons whether or not immediately ascertainable; and
2. a trust with beneficiaries being an aggregate of particular natural or legal persons ascertainable by reference to some personal attribute or relationship;

CAP 193.   
“Republic” means the Republic of Cyprus;
“Trust” has the meaning given to this term in the Trustee Law and includes a trust created by will;
“Trustee” means the trustee of the trust and includes legal and natural persons.