Common Questions about Cyprus Wills

In this article G KOUZALIS LLC, your Cyprus Legal advisors will answer several common questions about Cyprus wills.

Do I have to have a Cyprus wills?

It is not obligatory to have a Cyprus will. But it is highly advisable to avoid any upset following the passing of a loved one.

However if you do not have a will, there is a possibility that your estate will not distribute according to your wishes as if a person passes away without a will, their assets are distribute in accordance to the rules of intestacy and succession.

Are there any inheritance taxes?

At the time of writing, there is no inheritance tax in Cyprus. The Estate Duty (Amending) Law 2000 is abolish concerning any person who passed away after January 1, 2000.

However note that domiciles of other countries may be liable to pay inheritance tax in their countries. But this is something which we cannot comment on as we are Cyprus Lawyers. So, you should take legal advise abroad. For any UK, French, Lebanese, Dubai, Greece and Malta cases we can introduce you to our associates in those jurisdictions.

How is a Cyprus Estate distributed if there is no will or according to the rules of intestacy?

We would like to inform you how a Cyprus Estate is distribute if there is no will or if an estate is distribute according to the rules of intestacy.

Under Cypriot Law there are four classes of relatives who are entitle to benefit from inheriting from an intestate person:

First class: legitimate children of the deceased and descendants of any of the deceased’s children who died during his/her lifetime; (Children or Grandchildren if a child of the deceased predeceased the deceased)
Second class: any parent or sibling of the deceased; (Mum, Dad, Brother, Sister)
Third class: the closest in degree of kindred living ancestors of the deceased. Such as a grandparents.
Fourth class: the nearest relatives of the deceased alive at the time of his/her death up to the sixth degree of kindred (i.e. cousins and siblings of grandparents).

All of the categories as mention as above are entitle to be beneficiaries of the estate of a deceased person. Also, this person passed intestate or if the property is distributed according to the rules of intestacy.

For more information about wills, probate and succession please contact your Cyprus Lawyers, G KOUZALIS LLC on lawfirm@cytanet.com.cy or 00 357 23811788