Why Establish a Family Office in Cyprus?
Cyprus, as a member of the EU and the Eurozone, is renowned for its Mediterranean beauty as well as its strategic advantages in wealth management. With a robust legal framework based on UK Common Law and an appealing tax regime, Cyprus offers an ideal environment for handling complex financial matters. Family offices in Cyprus benefit from favorable tax policies, no succession taxes, and an extensive network of double tax treaties, making it a top choice for ultra-high-net-worth individuals.
Types of Family Office Structures in Cyprus
We provide guidance for establishing various family office structures in Cyprus, customized to meet each family’s specific needs. These include:
- Private Trust Companies: Ideal for safeguarding family wealth across generations, providing adaptable and confidential management of family assets.
- Companies Limited by Guarantee: These structures are well-suited for charitable activities and non-profit entities, ensuring the sustainable management of family philanthropy.
- Foundations: Provides an independent legal structure to safeguard family wealth and assets for charitable or succession purposes.
- Investment Funds: A sophisticated solution for families seeking to combine their investments and benefit from a coordinated, professional investment strategy.
Our legal experts will ensure your family office is structured efficiently, providing ongoing support to manage your financial and personal affairs.
Advantages of Setting Up a Family Office in Cyprus
Cyprus offers numerous advantages for families looking to establish a family office, making it a highly attractive jurisdiction for wealth management.
- Tax Benefits: Cyprus has one of the lowest corporate tax rates in the EU at 12.5%. There are also no succession taxes and no taxation on capital gains, except for specific cases involving real estate in Cyprus.
- Strategic Location: Situated at the crossroads of Europe, Asia, and Africa, Cyprus is ideally positioned for global family offices seeking access to diverse markets.
- Stable Legal System: Based on UK Common Law, Cyprus offers transparency and reliability in its legal framework, crucial for estate planning, trust management, and wealth protection.
- Extensive Double Tax Treaty Network: Cyprus has a wide range of double tax agreements that help minimize tax liabilities for family offices operating internationally.
- No Succession Taxes: This ensures that wealth is transferred smoothly to the next generation without the burden of hefty inheritance taxes.
- Modern Infrastructure and Skilled Workforce: Cyprus has a strong financial and legal infrastructure, with access to qualified professionals experienced in managing complex family wealth.
Family Office Services
We understand that each family’s needs are unique. Our team offers an integrated approach, providing a broad range of services to meet the specific requirements of family offices:
- Investment Management: Our experienced financial advisors will help manage your family’s investment portfolio, ensuring asset growth and wealth preservation.
- Wealth Transfer & Succession Planning: We offer expert advice on establishing trusts, foundations, and other legal structures to manage the transfer of wealth to future generations efficiently.
- Philanthropy & Charitable Giving: We assist families in establishing and managing their charitable foundations, aligning philanthropic efforts with family values.
- Concierge & Lifestyle Services: Our team provides support for personal matters, including relocation services, private schooling, travel arrangements, and security services for family members.
- Family Wealth Education: We help educate the next generation on managing wealth responsibly, ensuring a smooth transition of financial stewardship.
Tailored Solutions for Ultra-High-Net-Worth Families
At Myrofora A. Pastou, we work closely with each client to develop a customized family office solution. Whether you need a single-family office to focus solely on your family’s affairs or a multi-family office to share resources with other individuals, we have the expertise to provide the right structure.
For families with significant wealth and complex needs, a family office in Cyprus offers an excellent balance of financial control, privacy, and cost-efficiency. We handle all aspects of family office setup, from location selection and business incorporation to the relocation of family members and staff, making the process as smooth and efficient as possible.
Contact us today to explore how a family office in Cyprus can help manage, protect, and grow your wealth across generations. We are here to provide expert solutions for your unique needs.
