Private Trusts registration

Our Trusts are specially designed trusts that can effectively protect the Settlor’s assets.

A Trust is a legal device that allows title to – and possession of – property (asset) to be held, used and/or managed by one person, the trustee, for the benefit of another different person or group, the beneficiaries.

These are a few other examples of its possibilities: it can avoid probate and inheritance taxes, invest in all kinds of securities, real estate, cash, futures, bonds, stocks, hold title of any real or personal property, business interests, insurance policies, home, boat, car, pay support in marriage, to elderly, children, medical or educational expenses, etc.

Examples for using a Trust

• It can avoid probate and inheritance taxes;
• Invest in all kinds of securities, real estate, cash, futures, bonds, stocks;
• Hold title of any real or personal property, business interests, insurance policies, home, boat, car;
• Pay support in marriage, to elderly, children, medical or educational expenses, etc.

Most frequent uses of an offshore Trust

The Trustees aren’t allowed to disclose information about the Trust unless a local court order requires it. But in this can, you can appoint your own IBC as the Trustee, thus full controlling this feature.

Elements of a Trust

Settlor or Grantor

The person, company or other entity placing property into a trust.

Trustee

The individual, company, another trust or other entity who receives the property to be managed for the benefit of those individuals, companies, trusts, or other entities named as Beneficiaries.

Beneficiary or Beneficiaries

The individual, individuals, company or companies, trust or trusts or other entities named to benefit from the trust property.

Protector

An independent third party or corporate entity given the authority to perform certain duties with regard to a trust to insure that the wishes of the settlor are fulfilled. The trust protector can be given a limited or expanded list of powers, but be aware that the more powers the trust protector is given, the closer the protector comes to acting in a fiduciary capacity and, therefore, being subject to a fiduciary duty. At a minimum, trust protectors should be given the power to remove and replace trustees. In addition, trust protectors can be given the power to settle disputes among co-trustees or between trustees and beneficiaries; change the trust provisions due to unanticipated circumstances, such as changes in economic circumstances or changes in tax laws; terminate the trust; modify the powers given to the trustee; change the situs of the trust; and correct ambiguities or errors made when the trust was drafted. Under the laws of some states, the trust protector will be able to exercise these powers without the need for court approval, which will minimize the costs incurred in administering the trust.

Trust Document

The Deed or Declaration of Trust – Is the written instrument which details the duties of the Trustee, Names the Beneficiaries and Lists the Property in the Trust Corpus or body of assets.

Privacy of Settlor

The Trustee of a Trust can be any person that is of the legal age who under the laws of respective jurisdiction of incorporation, has the capacity to own and transfer property can be a Trustee.

Documents of a Trust

Trust deed

The beneficiaries’ protection

When incorporating a Trust, we do not include the Beneficiaries in the Trust Deed and you can state who you want to be the Beneficiaries at any time. You simply submit it in the Letter of Wishes.

How to maximize a Trust structure

With this type of structuring, these two entities become most beneficial for estate planning and particularly useful for the avoidance of inheritance taxes, income and capital gains taxes, forced heirship provisions and probate procedures. This can result in very substantial tax and non-tax related advantages which accrues during the lifetime of the Grantor and ultimately provides continuity for the beneficiaries of the Trust as well as a double layer of privacy and long-term asset protection.

In most of these privacy aware jurisdictions as mentioned above, there is no requirement to register the Trust with the government, and the terms of the Trust agreement and the beneficiaries are protected against disclosure, they are not available in public records either. The trustees aren’t allowed to disclose information about the trust unless a local court order requires it.

The main advantage of non public registration is that privacy of the Settlor, so the Trust’s activities and the identity of the beneficiaries are fully protected. Usually, a Trust imposes no tax of any kind on the Settlor, the beneficiaries or in the income or capital gains earned by the Trust.

Furthermore, there is no requirement for the Trustee to file Trust accounts with the local tax authority thus further preserving the confidentiality of the Trust’s activities.

Depending upon the residence for tax purposes of the Settlor and the beneficiaries, it is often possible to make distributions of capital or income from the Trust completely free of tax. In this matter, many reporting requirements are either eliminated or vested in the trustees. Our Trusts are specifically designed Trusts that can effectively protect the Settlor’s assets from attack by erstwhile creditors, thereby preserving the Settlor’s assets for the enjoyment of the Settlor and his/her selected beneficiaries.

Which assets can be held by an offshore Trust?

• Shares and stocks in both quoted and unquoted companies;
• Investment portfolios;
• Real and intellectual property;
• Bank deposits;
• Life assurance policies issued on the life of the Settlor;
• Most other types of asset.

The advantages of an offshore Trust

Important remark:

We do not include the beneficiaries in the Trust deed for confidentiality matters; you will appoint them at any time of your convenience, by simply submitting tem in the Letter of Wishes.