Cyprus international trusts--A giant leap forward: the proposed amendments to the International Trusts Law 1992

Cyprus' international trust regime was introduced by International Trusts Law 1992 to strengthen its appeal to settlors beyond its borders. This article examines recently published proposals to amend this legislation. Amendments include changes to the definition of international trusts; clarify the circumstances in which validity can be called into question; introduces perpetual trusts; amends the definition of charitable purposes; extends trustees’ investment powers; extends circumstances in which the court can approve a variation of trust; clarifies when disclosure can be given and the documents that might be disclosed; and deals with jurisdiction of Cypriot courts.