offshore trusts

A trust is created when a person (the settlor) transfers assets to a trustee. The trustee will care for and dispose of the assets in accordance with the Trust Deed and possibly a Letter of Wishes provided by the settlor. The beneficiaries of a trust are the persons described in the Trust Deed who may benefit from the trust.

major advantages

By moving his/her assets to an offshore trust, the settlor can divest him/herself of ownership of the assets. These assets could be money, real property, company shares, movable or immovable assets or even intellectual property rights.

In many jurisdictions a trust deed is not registered with any tax authority or government authority and is therefore a private agreement between the parties.

Normally there is no requirement to file the accounts of a trust or to have them audited by an independent auditor.

key motivations & uses

  • Wealth protection for future generations.
  • Controlling succession of ownership for family businesses and wealth.
  • Fear that children or others may dispose of assets or manage them unwisely.
  • Tax planning.
  • Flexible estate planning.
  • Avoiding disruption on death.
  • A settlor wishing to protect him/herself and his/her heirs from unrest, political risks and future claims.

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