Wealth Management in Cyprus
Wealth Management in CyprusUpdated on Tuesday 22nd September 2015
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The wealth management sector in Cyprus
Many high-net-worth individuals started to consider Cyprus a wealth management destination thanks to the country’s flexible types of investment companies and taxation system. Cyprus also has a very appealing residency scheme that allows foreigners to relocate and invest in the country.
The Cypriot banking system and the various types of investment vehicles transformed the country into a wealth management center. The Cypriot taxation system attracts many foreign investors that find very convenient wealth management solutions in the island starting with the low income and corporate tax rates. The legal framework represents another advantage for those opening trusts in Cyprus, thanks to the new International Trust Law.
Considering all the advantages the island provides to foreign individuals, Cyprus is about to become one of the most efficient wealth management centers in Europe.
Investment vehicles in Cyprus
When it comes to wealth management, Cyprus provides several types of investment vehicles among which are:
- - holding companies,
- - international trusts,
- - international collective investment schemes.
Cypriot holding companies are among the best wealth management vehicles because of the efficient tax planning solutions they provide. Among these, one can enumerate the low 12.5% corporate tax, the exemption on the capital gains tax when disposing of securities. Cyprus also has an extended network of double taxation treaties that provide low tax rates when dividends, interests and royalties are repatriated.
Cypriot international trusts also have many advantages such as trust funds that can consist of any movable or immovable property and can also be used as an investment vehicle.
Collective investment schemes in Cyprus may be set up under various forms such as international fixed capital company, variable capital company, or international investment limited partnership. International collective investment schemes in Cyprus are also recognized by the Central Bank.
What are the wealth management services provided by our Cypriot law firm?
Among the wealth management services our lawyers in Cyprus provide one can find:
- - tax and estate planning solutions,
- - investment portfolio management,
- - private wealth management solution,
- - cash management.
If you want to set up a business or want more details about wealth management we invite you to contact our Cypriot attorneys.