Trusts
S.D.M. SPYRIDES LLC specializes in the establishment and management of Cyprus International Trusts. The wording of the Trust Deed is well-tailored to each client's needs and requirements. The firm possess extensive expertise on the creation of a wide spectrum of Trust structures.
The Trust is not registered with any Governmental Authority. The original Deed of Trust, which is signed by the Parties, (the Settlor and the Trustee) is stamped by the Governor of Stamp Duties after payment of a stamp duty fee, thus creating the Trust. Copies of the Trust Deed can also be stamped by the same Governmental Body.
The Cyprus International Trusts Law of 1992 (as recently amended in 2012) is based on English Law. A Trust is formed when the owner of property transfers his/her ownership of that property to be managed by Trustees for the benefit of Beneficiaries.
A Trust is considered as a valid Trust:
- When there is a clear intention that it is set up for the benefit of the Beneficiaries;
- When the property settled is clearly identified; and
- When the Beneficiaries can be identified.
It is vital to ensure that the validity of the Trust will not be challenged and once it is created, will provide the necessary safety and guarantee to the beneficiaries.
For further information please contact us at info@spyrides.eu