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COMPANY PROFILE

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WelcomeWe warmly welcome you to Chelco Trustees Ltd, International Trust Services.

The company forms and administers Cyprus and international trusts as well as international foundations and acts as Professional Trustee or Trust Protector for corporations and ultra high net worth individuals around the world.

Chelco Trustees can also offer support to trustees, professionals and individuals on trust-related matters. It is also a leader in the organisation of trust seminars and workshops addressed to both clients and industry professionals, including banks.

The success and respect Chelco Trustees has earned in the industry over the years, has been built on the strength and depth of the relationships it has forged with its clients and their advisors; relationships that are based on trust, confidentiality, knowledge and mutual respect.

Our philosophy is simple and straightforward. We follow a client-centric approach and are committed to exceeding expectations. Similarly, our like-minded associates across the EU and beyond have been carefully chosen to reflect our unwavering values.

At Chelco Trustees, we strongly believe in developing long-term relationships with our clients and their advisors and working alongside them as partners to produce tangible and measurable results. After all, it’s not what we put into it that matters. It’s what our clients get out of it.

We look forward to addressing your trust needs and requirements and to welcoming you to our organisation.

Our CompanyChelco Trustees Ltd was formed in 2009 for the purpose of offering specialised and dedicated trust and trustee services to its clients.

Based in the business capital of Cyprus, Limassol, the company is comprised of a team of chartered accountants and tax consultants that can provide personalised and dependable trust solutions based on years of experience, knowledge and expertise in the field. The firm maintains strong and durable relationships with the island’s key public and private organisations, professional bodies and decision makers and is frequently consulted in policy-making decisions.

Chelco Trustees also works closely with an alliance of like-minded trust specialists in jurisdictions around the world, allowing it to offer a wide range of trust solutions to its local and international clientele.

It is regulated by the Institute of Certified Public Accountants of Cyprus (ICPAC).

“TRUSTING IS HARD. KNOWING WHO TO TRUST, EVEN HARDER.”

MARIA V. SNYDER

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Services

Trusts are everywhere around us. Whenever the person that legally owns property is different from the person who in some capacity beneficially owns that property, one encounters a trust.

Trusts and in particular the Cyprus International Trust, have a wide-scope of uses that include tax and inheritance planning, or to protect the ownership of assets. Assets may be comprised of any kind of property including bank deposits, movable or immovable property, jewellery, works of art and of course, shares.

Services include:

• Setting up of Trusts in Cyprus and International Jurisdictions • Setting up of Foundations in a variety of Jurisdictions• Trust Structuring• Professional Trustee Services• Protector Services

Trusts

Trust refers to the legal relationship created by a settlor (the instigator of the trust) when assets have been placed under the control of a trustee for the benefit of a beneficiary or for a special purpose.

A trust is essentially created when these assets are transferred from the settlor to the trustee. The trustee then becomes the legal owner and is responsible for managing those assets in accordance with the terms of a trust deed. The trustee is the legal owner, whilst the beneficiaries are the equitable owners.

Types of Cyprus Trusts

There are a number of different types of trusts but usually they fall into one of the following categories:

• Bare Trusts, also known as simple trusts• Discretionary Trusts, which are the most widely used in Cyprus • Interest in Possession Trusts• Accumulation and Maintenance Trusts• Resulting and Constructive Trusts

There are also fixed, trading, protective and charitable trusts.

Kinds of Cyprus Trusts

There are two main kinds of Cyprus trusts: Local Trusts and the Cyprus International Trust (CIT), with the latter being the most popular and useful tool in the island’s trust services legislation.

Cyprus International Trust

CITs achieve a variety of estate, personal, financial, tax and other business planning objectives. They can be used for tax planning purposes, as an instrument of estate planning, for asset protection and for confidentiality purposes.

CITs are set up by virtue of the CIT Law of 1992, which was enacted with the aim of providing incentives for the establishment and administration of trusts in Cyprus by non-residents. The 1992 Law was amended and significantly improved in March 2012, establishing the CIT as one of the best trust structures in Europe.

Under the last amendment, CITs may now hold immovable property in Cyprus, while both settlors and beneficiaries may become Cyprus residents the year of the trust’s creation.

The 2012 amendment also successfully improved such issues as jurisdictional protection, confidentiality, trustee responsibilities, trust duration and the application of foreign jurisdictional laws.

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One TeamChelco Trustees Ltd utilises a client-centric and highly specialised coalition of consultancy firms, offering practical, custom-made solutions in the fields of tax, business consultancy, auditing, accounting, VAT, corporate and trust services.

It also utilises a wide network of dedicated professionals worldwide in order to cater to the diversified needs of its international clientele.

Chelco Trustees also works closely with individual lawyers and commercial law firms in an effort to facilitate its clients’ legal requirements.

Even though wholly independent of one another, the companies in the alliance work in tandem to best serve its clients’ needs and challenges and to ensure a coordinated, flexible, personalised and confidential approach.

CHELCO MANAGEMENT SERVICES LTDCorporate & Fiduciary Services

Chelco Management Services Ltd has been operating since 1984 and offers Company Formation, Trust, International Banking and Management & Administration services. It utilises a multi-disciplinary, multi-lingual team of professionals to serve the business interests of clients from all over the world, including Russia and the CIS.

CHELCO VAT LTDDedicated VAT Services

Perhaps the only VAT-dedicated service provider in Cyprus, Chelco VAT Ltd offers specialised advice on VAT preparation, planning and compliance.

“TRUST TAKES YEARS TO BUILD, SECONDS TO BREAK AND FOREVER TO REPAIR.”

UNKNOWN

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Chelco Trustees Ltd

221, Chr. Chatzipavlou Str., Helios Court, 1st Floor, 3036 Limassol, Cyprus | P.O. Box 51631, 3507 Limassol, CyprusT: +357 25871000 | F: +357 25373737 | E: info@chelcotrustees.com | www.chelcotrustees.com

Registration No. HE248183 | Regulated Administrative Services Providers, ICPAC Certificate No. E631/F