John Joannides & Co LLC is proudly featured under “Expert Opinion” in “The Cyprus Journal of Wealth Management”. Thank you to IMH for this honour.
Cyprus International Trusts (“CITs”) are endowed with solid protection from both domestic and foreign inheritance and forced heirship laws, thereby rendering them an invaluable tool in succession and estate planning. Some of the appealing provisions of the International Trust (Amending) Law of 2012, (the “Law”) provide that:
– Issues pertaining to, the validity, interpretation, amendment or administration of a CIT or a disposition to a CIT will be determined by the laws of Cyprus without regard to the law of any other jurisdiction;
– Any inheritance or succession statutes in Cyprus or overseas will not affect any transfer or disposition of assets nor affect the validity of a CIT. Consequently, the CIT supersedes all inheritance laws;
– No disposition to a CIT may be challenged on the basis that it contravenes the laws of any other jurisdiction such as, foreign forced-heirship laws, forced succession / inheritance laws or mandatory provisions of family law or laws prohibiting or not recognising trusts.
Read “The Cyprus Journal of Wealth Management September 2021” Issue here
The Full Article is on Pages 86-87.
Read The Full Article here: Expert Opinion Sept 2021
John Joannides,
The Cyprus Journal of Wealth Management, September 2021.
