Jersey trust company Whitmill has formed a joint venture with Cyprus-based Fidelius Management Services, adding a seventh jurisdiction to its portfolio.
As a member of the EU and with a wide network of international double tax treaties and low corporate tax rates, Whitmill says Cyprus offers a range of benefits to international businesses. It has become a gateway for business and investments with Europe, as well as its neighbouring markets in the Middle East and North Africa.
Whitmill, established in Jersey in 1992, now provides service offerings in Dubai, Gibraltar, Switzerland, Malta and the Netherlands.
Fidelius Management Services is an independently owned company offering a range of corporate and trust services.
Under the new agreement, signed by Fidelius Managing Director Demos Demou and Whitmill Managing Director Don Wijsmuller (pictured), the two businesses join to form Whitmill Trust (Cyprus), which will deliver corporate administration services from Limassol.
Wijsmuller commented: “Over the past 10 years we have informally collaborated with Demos, viewing Fidelius as a preferred partner in Cyprus. The establishment of this joint venture and the registration of Whitmill Trust (Cyprus) puts our relationship on a formal footing and will benefit our clients, contacts and associates."