The term ‘’trust’’ refers to the legal relationship which is created by one person (i.e. the settlor), when property, movable or immovable, is put under the control of a trustee of a trust for the benefit of another person, the beneficiary, or for a prescribed purpose, in such a way that the real benefit from the property belongs not to the trustee but to the beneficiary.

Cyprus International Trusts are governed by the International Trusts Law of 1992 (hereafter the ‘’Trust Law’’) which regulates the establishment and administration of International Trusts. The Trust Law complements the Trustees Law, Cap 193 which remains in force and is based on the English Trustee Act 1925.

The European Company Statute (being a legal instrument based on European Community law) gives companies the option of forming a European Company – known formally by its Latin name of ‘Societas Europeae’ (SE).

The International Collective Investment Schemes Law, 1999 provide the required legal framework for the registration, regulation of operations and supervision of ICIS.

Open-Ended Undertaking for Collective Investments in Transferable Securities (UCITS)

The UCITS law 200(I)/2004, which implements the EU directives, provides the legal framework for the registration, regulation and marketing of local and foreign funds in Cyprus.