The BVI Registry of Corporate Affairs announced that from January 1st 2023 various significant amendments will come into force to the BVI Business Companies Act, 2022.
external accountantsOn 07th of September, Cyprus Securities & Exchange Commission (CySec) pursuant to Article 61C of the Prevention and Suppression of Money Laundering and Terrorist Financing Law of 2021 (AML Law) issued an announcement setting the deadline for the submission of the information on the beneficial owners of Express Trusts and similar legal arrangements in Cyprus Trusts Beneficial Owners Registry (CyTBOR) being the 7th of October, 2022 (Announcement).
A Trust can be a valuable tool for protecting your property especially when the Trust is established in such a favourable jurisdiction as Cyprus. Being extremely flexible, Cyprus International Trust make Cyprus one the best jurisdictions someone may choose to establish a Trust. Consequently, the establishment of Cyprus International Trusts by non-residents is constantly growing.