Family Offices in Cyprus
As family wealth grows, so does the need to coordinate its ownership, administration and long-term direction. Business interests, investments, property and philanthropic activities may span several countries, involving different advisers and generations.
A family office provides an organised framework for overseeing these affairs, bringing together information, responsibilities and decision-making around the family’s priorities.
At AGPLAW, we help individuals, entrepreneurs and families establish and support family office structures in Cyprus. Our private client, corporate, tax, trusts and regulatory teams work together with the family’s existing advisers to develop practical arrangements for both present needs and future generations.
Structuring & Establishment
The right family office structure depends on the family’s assets, international connections, objectives and desired level of involvement. We help clients determine which functions should be managed internally and which can be supported by external professionals.
Our services include:
- Needs and Structure Review - Assessing the family’s assets, existing entities, advisers and administrative requirements.
- Operating Model - Defining the proposed functions of the family office, its responsibilities and its relationship with family members and service providers.
- Entity Establishment - Setting up appropriate management companies, holding companies and other structures required to implement the agreed plan.
- Trust Arrangements - Advising on whether trusts should form part of the ownership structure and coordinating their establishment.
- Regulatory Assessment - Reviewing the proposed activities to identify any licensing, authorisation or other regulatory requirements.
- Operational Setup - Supporting banking applications, service agreements, office arrangements and employment documentation.
Where trusts form part of the structure, our Trusts & Trustee Services team provides dedicated legal and fiduciary support.
Experience & Approach
Angelos G. Paphitis, Managing Partner, has been a full member of the Society of Trust and Estate Practitioners (STEP) and a holder of the Trust and Estate Practitioner (TEP) designation since 2005.
We combine this trust and estate background with legal, corporate and tax support, providing a consistent point of contact for the family and its advisers. Our role is to help keep the structure, documentation and administration aligned as the family’s needs evolve.
A family office works best when responsibilities are clear and decision-making reflects the family’s agreed priorities. We help establish arrangements that support accountability, continuity and the participation of future generations.
Governance & Succession
We assist with:
- Family Governance - Preparing family constitutions, establishing family councils and defining procedures for consultation and decision-making.
- Ownership and Control - Coordinating shareholder arrangements, voting rights and the responsibilities of directors, trustees and other office-holders.
- Succession Planning - Aligning the family office structure with wills, trusts and plans for transferring ownership and responsibility.
- Next-Generation Participation - Establishing frameworks for younger family members to become involved in family affairs.
- Philanthropic Activities - Documenting how charitable objectives are funded, governed and reviewed.
Our Family Business & Governance and Wealth & Succession Planning services provide further support for these arrangements.
For families developing a charitable initiative, see our Philanthropy & Foundations services.
A family office needs reliable day-to-day support as well as a clear long-term plan. We help maintain its legal and administrative arrangements and coordinate the professionals involved.
Administration & Support
Our services include:
- Corporate Administration - Maintaining company records, documenting corporate decisions and coordinating statutory filings.
- Tax and Accounting Coordination - Working with relevant professionals on tax compliance, accounting and financial reporting.
- Adviser Coordination - Liaising with banks, investment managers, accountants, trustees and overseas counsel within an agreed scope.
- Employment and Relocation - Supporting employment arrangements and relevant residence or immigration applications for family members and staff.
- Contracts and Transactions - Advising on agreements, acquisitions, disposals and other matters arising within the family structure.
- Ongoing Reviews - Updating arrangements as the family’s circumstances, assets and objectives change.
For the personal aspects of a move to Cyprus, visit our Private Client Tax & Relocation page.
Cyprus offers an established base for families seeking to coordinate their affairs from within the European Union. Its international professional services sector, common-law foundations and geographic position can support families with business and personal connections across several regions.
Why Cyprus?
We help clients assess whether Cyprus is appropriate for their circumstances, taking account of:
- Legal Structures - The available corporate and trust arrangements for ownership, governance and succession.
- Tax Considerations - The treatment of the proposed entities, assets and family members, alongside obligations in other countries.
- Practical Presence - Requirements for management, premises, staffing and day-to-day operations.
- International Coordination - How the Cyprus arrangements will interact with existing structures and overseas advisers.
The suitability of a family office depends on its purpose, activities and the family’s circumstances. Our advice begins with those considerations and develops into a structure that can be implemented and maintained.
