EU Member States are one by one implementing the 4th AML Directive which requires to establish a register of Controlling/Beneficial Owners of the local companies. This marks the end of the era of offshore secrecy. However, the demand for confidentiality remains and industry professionals are working hard to find the solution. One can consider setting up a Cyprus International Trust under the Cyprus International Trusts Law of 1992 (Law No. 69(I)/1992). The Law currently allows ownership of a purpose trust, i.e. having no beneficiaries with only one purpose to hold shares of the underlying company.