2012 STEP CyPruSInternatIonal ConferenCe

www.step.org/cyprus2012

2012 STEP CyPruS InTErnaTIonal ConfErEnCE 10-11 May 2012Le Méridien Limassol

Delegate fee: Euro GBPSTEP Members (Local)* 430.00 370.00STEP Members (International) 765.00 650.00Non-Members (Local)* 550.00 470.00Non-Members (International) 880.00 750.00

*Local rates available to residents of Cyprus.

Conference language: Englishaccredited for 9 hours CPD

Keynote speakersH.E. Mr Demetris Christofias President of the Republic of CyprusHon. Mr Kikis Kazamias Minister of Finance

Tax and TruST ChallEngES in ThE nEw world ordErCyprus: a trusted stepping stone to doing business in Europe and the rest of the world

Conference programme focus • The Cyprus international trusts law & regulation

of trustees• Survey of trusts and case laws• Citizenship and tax residence programmes• Beneficialownership,taxresidency&substance• Family governance structures – private trust

companies• Tax planning challenges for Israeli investors• The Cyprus holding company as an international

tax planning vehicle• Exchange of information developments – Russia

and CIS

PluS: Panel discussions on:• Inward and outward investments for Russia,India&SouthAfricaand;

• The world of investment funds

Sponsors

Silver: Bronze: International media partner:

Gold:

Beingasteppingstonetothreecontinents,Cyprus’geopoliticalpositionhasmanytimesinthedistantandrecentpast placed it in the path of both adversity and opportunity.

Today,CyprusisamemberoftheEuropeanUnionandtheEurozoneandon01July2012,itwilltakeoverthePresidencyoftheCounciloftheEU.

Onthebusinessfront,Cyprushasmanagedtoestablishitselfasaninternationalfinancialcentre.Abalancedcombination of tax and non-tax related elements allow the island to act as a prime gateway for investments in and out of Europe and especially CIS countries.

InthisinauguralSTEPInternationalConferencetobeheldinCyprus,thefocusmaypartlyhavealocalflavourbutthe reach and range of topics that will be covered are truly international.

Renownedspeakersfromaroundtheglobewillconvergeontheislandtoexaminetrustsandtrustcaselaws,exchangeofinformation,substancerequirementsandcompanymigrationconsiderations.Theywillalsoofferanin-depthlookintothelucrativeworldofinvestmentfundsanddiscusspracticalexamplesofinwardandoutwardinvestmentsviaCyprusforCIScountriesandotheremergingmarkets.Alsoontheagendaarethetaxandtrustplanning challenges faced by neighbouring Israelis and the setting up of family governance structures that include the use of private trust companies.

Peter G. Economides TEPChairman STEP Cyprus

2012 STEP Cyprus International ConferenceIntroduction

Sponsors

about the organisers TheSocietyofTrustandEstatePractitioners(STEP)isauniqueprofessionalbodyprovidingmemberswithalocal,nationalandinternationallearningandbusinessnetworkfocusingontheresponsiblestewardshipofassetstodayandacrossthegenerations.

STEPprovideseducation,training,representationandnetworkingforitsmembers.Membersadviseclientsonthebroadbusinessofthemanagementofpersonalfinance.FullmembersofSTEParethemostexperiencedandseniorpractitionersinthefieldoftrustsandestates.STEPhasover17,000membersworldwide,providingcoveragein80countries.

TheCyprusbranchofSTEPwasestablishedin2003andcurrentlyhasamembershipof160professionalsfromtheisland’slegal,accounting,trustandbankingfields.

for further information visit www.step.org or email step@step.org

Arrivaldrinks: Exhibitor:Gala dinner:Speakerdinner:

Silver: Bronze: International media partner:

Gold:

09 May 2012

Welcome Cocktail receptionThe Amphitheatre, Le Méridien Limassol

10 May 2012 - Day 1

Registration and coffee

Welcome by the Conference ChairmanPeter G. Economides TEP, Chairman, STEP CyprusWelcome from STEP WorldwideMichael Young TEP, Chairman STEP Worldwideopening addressH.E. Mr Demetris Christofias, President of the Republic of CyprusCyprus as an international financial centreHon. Mr Kikis Kazamias, Minister of Financelatest developments: The Cyprus International Trusts Law 1992. Regulation of fiduciary services providers – Q&aMaria Kyriacou, Andreas Neocleous & Co LLC Peter G. Economides TEP, Totalserve Management Ltd

networking and refreshments

Survey of trusts in selected countries - Q&a• Which is the best jurisdiction?• Creditors,reservedheirs,divorcingspouses and other mantraps• Bells and whistles in established trust centres • The newcomers: how about a Romanian trust?Richard Pease TEP, Lenz & StaehlinCitizenship and tax residence programmes in various countries – Q&a• Whytheyareattractive,whattheyareusedfor, and by whom?• Tax uses and abuses• Abriefhistoryofpost-WorldWarIIcitizenship programmes• Abriefhistoryof“passportonly”programmes and/or places where dodgy travel documents could be obtained• Abriefhistoryofresidenceonlyprogrammes• Specialdealsandone-offnegotiations.Theuse ofmarriagetoobtaina“quickie”citizenshipand/ or residence• What’sonthemarkettoday,includingthenewCyprus programme: its good and not-so-good featuresStephen Gray, Attorney and Counsellor at Law

lunch

Introduction by the afternoon session ChairmanRichard Pease TEP, Lenz & StaehlinBeneficial ownership, tax residency & substance requirements• Tax residency considerations• Substance considerations• BeneficialownershipconsiderationsNeophytos Neophytou, Ernst & Young Setting up a family governance structure, including the use of a private trust companyNicholas Jacob TEP, Lawrence Graham LLP

networking and refreshments

Investment funds comparedDemetra Kalogirou, Chairwoman, Cyprus Securities and Exchange Commission

6.00 - 8.00pm

8.15am

9.00am

9.05am

9.10am

9.20am

9.45am

11.00am

11.45am

1.55pm

2.00pm

2.45pm

4.00pm

4.30pm

12.30pm

3.30pm

6.00pm

8.30am

8.55am

9.00am

9.45am

11.00am

11.45am

12.30pm

5.00pm

10.30am

1.00pm

10.30am

Panel discussion: investment funds – a world of opportunitiesPanel Chair: Angelos Gregoriades, KPMGPanelists: Demetra Kalogirou, Cyprus Securities and Exchange Commission Pieris Markou TEP, Deloitte International tax and trust planning issues & challenges for Israeli investors• Theonshore-offshoredilemmaforbusinesses• What investors can do without• Israeli trust taxation peculiarities• Happyfamilies,taxwiseLeon Harris TEP, Harris Consulting & Tax LtdClose of Day 1

Drinks reception and DinnerTheTaverna,LeMéridienLimassol

11 May 2012 - Day 2

Arrival - coffee

Introduction by the morning session ChairmanMichael Young TEP, Chairman STEP WorldwideThe Cyprus holding company: uses, benefits and competitive advantages• Cyprus tax system• It’sadvantagesasaholdingregime• Common structures • Comparison with other jurisdictionsPanikos N Tsiailis – PWCPanel discussion: The Cyprus holding company for inward and outward investments for CIS countries and other emerging markets such as India and South africaPanel Chair: Christos Mavrellis, Chrysses Demetriades & Co. LLCPanelists: Phidias Pilides, Chairman, Cyprus Chamber of Commerce & Industry Panikos Tsiailis, PWCnetworking and refreshments

Exchange of information developments: emphasis on russia and other CIS countries• Clients from Russia & CIS: Cyprus or not Cyprus,thisisthequestion• Exchange of information: The brave new world or “wemeanttodobetter,butitcameoutasalways”• The importance of politics: will it ever go away?• Let’spushharder:thequestionofcompliance• What will the future bring?Olga Boltenko TEP, Withers LLPrecent trust case law - Q&a• Removaloftrustees;whatthejudgesarelooking for-positionofbeneficiaries•QuistcloseTrust-insolventbank-rightsof customers/beneficiaries• Validity of trust - whether created properly• Partition of trust fund - power to do so • Trusteeappointment-mistake-rulein Hastings-Bass-EnglandandJersey• Power of revocation - nature of power• Domicile of origin and domicile of choice Geoffrey Shindler TEP, Consultant DWF LLPClosing addressPeter G. Economides TEP, Conference Chairman

lunchLeFleuriRestaurant,LeMéridienLimassol

Conference Closes

For further information contact the conference team on +44 (0)20 7340 0500 or email conferences@step.orgForease,registeronlineatwww.step.org/cyprus2012

5.30pm

2012 STEP Cyprus International Conference - Delegate registration formTax and Trust Challenges in the new World orderCyprus: a trusted stepping stone to doing business in Europe and the rest of the world Venue: Le Méridien Limassol Spa and Resort, Old Limassol – Nicosia Road, P.O. Box 56560, Limassol CY-3308, Cyprus

Terms and ConditionsConference documentation will be distributed at the event. STEP reserves the right to amend or cancel this conference where the occasion necessitates. In such circumstances a full refund of any registration fee will be made but STEP shall accept no further liability. Prices may be subject tochange.Thisbookingformconstitutesalegallybindingcontract.Thedelegateandfirmarejointly and severally liable for payment of the fees due. The conference language is English.

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STEP Member rate (local)* 2dayconferenceandsocialfunctions

Fee EUR430.00 GBP 370.00

non-Member rate (local)* 2dayconferenceandsocialfunctions

Fee EUR550.00 GBP 470.00

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STEP Member rate (International)

Fee GBP 650EUR765.00

non-Member rate (International) 2dayconferenceandsocialfunctions

Fee EUR880.00 GBP 750.00

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fax: +44 (0)20 7340 0501 or email conferences@step.org

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Hotel accommodation Please visit www.step.org/cyprus2012 for accommodation optionsCancellations/SubstitutionsCancellations must be received in writing at least seven days before the date of the conference and will be subject to an administration chargeofEUR60(GBP50).Itisregrettedthatcancellationsmadeafterthis time will not be accepted and the delegate will be liable for the full conference fee. Substitutions may be made at the time provided theorganisersarenotifiedpriortotheconference.Please note that if a non-STEP member attends in lieu of a STEP memberthedifferenceinfeeswillbecharged.

*Local rates available to residents of Cyprus

2dayconferenceandsocial functions

Social functionsPleaseticktheboxifyouwishtoattend(includedindelegaterate):09 May 2012 WelcomeCocktailReception,TheAmphitheatre,LeMéridienLimassol. Time: 6-8pm. Extraguestticket(nocharge).10 May 2012 DrinksReceptionandDinner,TheTaverna,LeMéridienLimassol. Cyprus theme night. From 8.00pm. Extraguestticket(EUR60.00/GBP50.00)12 May 2012FreeDay,PaphosExcursion.(pleaseemailforfurtherinformation)