11 September 2019
The EU Succession Regulation (EU Regulation 650/2012, also known as the Brussels IV) governs cross-border issues of succession within the European Union.Read More
11 September 2019
Succession in Cyprus is governed by two main pieces of national legislation, namely the Wills and Succession Law (Cap. 195) and of the Administration of Deceased’s Estate Law (Cap. 189). In addition, as a member of the European Union, Cyprus applies European law on succession matters, such as the EU Succession Regulation (650/2012).Read More
People live complicated lives. They may own assets in more than one jurisdictions other than Cyprus or they may own property in Cyprus but still live outside Cyprus. Difficult legal and tax issues may arise when planning for succession, making wills and estate planning an important way out for avoiding problems. Experts are important to help making decisions that produce efficient and trouble free outcomes for individuals and families. Our team maintains experience and expertise in acting for families, heirs, executors, personal representatives, beneficiaries and trustees. We are particularly well regarded for our expertise in cross-border issues in respect of wills and international taxation, succession and asset management matters.
The estate and administration work that we undertake can be simple but also often complex and multi-jurisdictional. We provide comprehensive strategic advice on legal and tax issues pertaining to estate planning (including drafting of wills, trusts and estate planning instruments), ensuring that a family's inheritance is protected now and in the future. We assist in the drafting and registration of a Cyprus will as well as ancillary matters of Cyprus estate planning. We also manage the entire day-to-day administration of an estate governed by Cyprus law and guide the heirs, the trustees or the executors through each stage of the process, safeguarding that everything is being handled lawfully, promptly and professionally as well as cost-effectively. We are able to guide clients through the procedural formalities inherent in the formal probate process and subsequent administration of an estate. Many estates involve a Cyprus property to be exchanged within the family or to be sold and our conveyancing team is on hand to offer advice and make sure the process runs smoothly. We also deal with intestacy, post-death restructuring, drawing up deeds of variations and appointments under discretionary wills.
Our services also include representation on contentious Cyprus probate matters and we regularly represent clients before the Cyprus Courts on probate matters, such as challenging a Cyprus will, appointment of administrators, directions on probate and estate administration, resealing of foreign grants, obtaining grants for Cyprus assets in case of Cypriot or non-Cypriot nationals or domiciles, filing estate accounts etc. Our Probate Dispute Resolution team has a wealth of experience advising on contentious and pre-contentious probate matters and, in recent years, the firm has been involved with high-profile and complex multi-party and multi-jurisdictional litigation of this kind.