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The Main Principles of Cyprus Trusts
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- Delivered Online• to
- Delivered Online• to
Highlights
Live Online
5 CPD Units | 5 Hours
The EIMF Live Online Learning Experience
Participants will receive access to the recorded sessions of the course.
EIMF subject-matter experts deliver engaging and interactive courses across a broad spectrum of areas, that can be enjoyed in the comfort of your own chosen environment. Read more
Course Overview
Cyprus law has a long history on trusts with two separate trust laws, one being for local trusts and another one for international trusts. Its first law was based on the UK Trustee Act of 1925 and is dated back to 1995, before the Cyprus independence from the Crown in the 1960s.
Being a common law jurisdiction Cyprus follows the doctrine of equity as it is applied in England and Wales and follows the precents of the Cyprus courts and of other common law jurisdictions. For any trust practitioner it is imperative to be aware of these and of recent developments.
There are different types of trusts, with different characteristics, and each trust can adopt its own provisions provided there is no breach of the law. Trusts today have assumed a critical role in succession and estate planning, and it is important for all those practitioners advising on trusts or acting as trustees to avoid any pitfalls that will either affect the validity of the trust or trigger huge responsibilities on the trustees.
Therefore, the need of the course is to provide to the trust professionals the basic knowledge of how to set up and administer a trust, how a trust operates in practice, and to also ensure compliance with the various regulatory and legal requirements.
Training Objectives
By the end of the programme, participants will be able to:
Understand the main characteristics of a trust and how it operates
Understand the different types of trusts
Comprehend the specific duties of the trustees and of the protectors
Be aware of the rights of the beneficiaries - if any and to what extent
Understand the extent to which the Settlor can reserve powers
Identify the risks when setting up and administering a trust
Know the main provisions that should be included in a Trust Deed
Be aware of related laws that should be taken into consideration when setting up a trust
Training Outline
Common Law, Equity and Trusts
Main requirements for setting up a trust
Complexities and risks to consider in setting up and administering a trust
Legislative and regulatory requirements to consider in relation to trusts
Who Should Attend
The programme is ideal for:
Professionals dealing with trusts
Lawyers, accountants, auditors and bank officers
Officers of family offices
Welfare and equality Officers
Business Executives
Training Style
The programme is designed to deliver knowledge and enhance participants’ knowledge in setting up and administering Cyprus trusts via short presentations and lectures, case-studies and practical examples and case law.
Most of the training’s time will be invested in analysing the practicable considerations in applying the relevant laws and regulations and real-life case examples that will help participants be aware of the risks entailed when setting up and administering a trust.
CPD Recognition
This programme may be approved for up to 5 CPD units in Law. Eligibility criteria and CPD Units are verified directly by your association, regulator or other bodies which you hold membership.
In-house Training
For groups within the same organisation, this course may be customized to meet any specific needs and delivered in-house.
Facilitators
Stella Kammitsi
Stella Kammitsi is a qualified lawyer and member of the Cyprus Bar Association since 1992. She runs her own law firm and her fiduciary service provider company, Raza Corporate Services Ltd. Her main areas of expertise are Corporate, Banking, Trust and Estate Succession Planning and Commercial Law. She obtained her law degree from the University of Leicester, UK and her LLM in International Banking Law from Boston University, USA. She is member to the boards of various companies and associations including, inter alia, ex-Chairwoman of STEP Cyprus and one of the Deputy Chairperson of the STEP Europe Region, Vice-President to BPW Cyprus, Chairperson of the Standing committee for Legislation of BPW International. She has also been the ex-Chairwoman and ex Vice-Chairwoman at the Housing Finance Corporation (appointed by the Council of Ministers) and ex-President of the Cyprus Women’s Lobby. She is a regular speaker at international conferences and a lecturer at the International University of Monaco. She has also been a lecturer for Business Law and Banking Law in several universities and colleges in Cyprus.