Panel discussion highlights Cyprus as a premier destination for High Net Worth Individuals

Cyprus continues to establish itself as a preferred jurisdiction for High Net Worth Individuals (HNWIs) seeking asset protection, favorable tax frameworks, and a high quality of life. In a panel discussion titled "Cyprus as a Home for High Net Worth Individuals" at the “7th Doing Business in Cyprus Summit: Cyprus – The ultimate hub for business work and Lifestyle” in Israel, two leading professionals shared their insights into the country's robust legal and financial landscape for affluent individuals and private clients.

Cyprus international trusts: Confidentiality, flexibility and asset protection

Andriana Efstathiou, Partner at Bybloserve Management Ltd, presented an in-depth overview of the Cyprus International Trusts (CITs) framework. She explained how CITs operate, emphasising their unique characteristics, such as:

• Strong confidentiality provisions, safeguarding the privacy of settlors and beneficiaries.
• Flexible structuring options, which can be tailored to individual estate planning and wealth management needs.
• Asset protection mechanisms, making them attractive for succession planning and shielding assets from potential future claims.

Tax framework for private clients and HNWIs: A strategic advantage

Antonis Karitzis, Managing Partner of A. Karitzis & Associates L.L.C., presented a comprehensive overview of Cyprus' tax regime tailored for private clients, affluent individuals, and HNWIs. He highlighted key benefits including:

• Low and competitive tax rates on personal and investment income.
• No inheritance or wealth taxes, enhancing intergenerational planning.
• Attractive Non-Domicile (Non-Dom) regime, which allows qualifying individuals to benefit from exemption on dividends and interest income for 17 years.

The Non-Dom status is particularly advantageous for individuals relocating to Cyprus, he said, offering tax efficiency while allowing access to the EU's legal and financial environment.

Organisers, sponsors, supporters and exhibitors

The “7th Doing Business in Cyprus Summit: Cyprus – The ultimate hub for business work and Lifestyle”, taking place on 5 May 2025 in Tel Aviv, Israel, is organised by IMH and Invest Cyprus.

Academic Sponsor

• CIM-Cyprus Business School

Sponsors: (with participation in a panel discussion)

• Alpha Bank Cyprus Ltd
• ALTIA
• Bybloserve Management Ltd
• Cyfield
• Frangos & Associates LLC
• Karitzis Legal
• Korantina Homes
• KPMG Cyprus
• PwC Cyprus
• XPADIA

Exhibitors:

• Andreas Demetriades & Co LLC
• Aristo Developers
• bbf
• City of Dreams Mediterranean
• D. Zavos Group
• GoGordian Real Estate
• Leptos Group
• Pafilia
• Perfect Circle Trust Ltd
• Y. Argyrides & Associates LLC

Communication Sponsors:

• GOLD magazine
• IN Business magazine
• CBN- Cyprus Business News portal