Cyprus is continuously transforming into a financial hub, offering high-level private banking and wealth management services resting on progressively comprehensive and robust regulatory structures.
Within this sector, an array of legislative and regulatory frameworks are in place which, when considered collectively, can assist in the setting-up of compliant and tailored structures in wealth planning. To facilitate strategic planning, key considerations involved are setting the necessary anti-money laundering (AML) standards, conforming to confidentiality obligations, and pragmatically selecting legal contractual provisions, including any mandatory requirements in accordance with disclosure thresholds based on client classifications.
For a more detailed analysis of the Cypriot landscape of private banking and wealth management, refer to the following comprehensive piece on Lexology Panoramic: “Private Banking and Wealth Management”, also available here.
Contributors of the above include Demetris Roti, Alexis Christodoulou, Adonis Zachariou, Avgi Michael (Trainee Lawyer), and Maria Vyronos (Trainee Lawyer).
