Trusts & Foundation Guides
A bespoke ‘offshore’ solution can be complex and requires careful planning and execution. Please follow the ‘How to Proceed’ link below to enquire at the relevant office and we will gladly assist with advice on how to approach your particular challenge.
A fiduciary structure such as an Offshore Trust can help to preserve wealth and offers a great deal of flexibility over the management and distribution of your assets.
The most widely used vehicle for asset protection is the Trust. A Trust is able to hold a variety of assets including immovable assets, stocks and shares, investment products, real and intellectual property, bank deposits and life insurance policies.
An Offshore Trust is created when assets are transferred to a Trustee. The Trustee becomes the legal owner and is responsible for managing the assets and distributing them to the beneficiaries of the Offshore Trust (which could include the person or corporation which transferred the assets to the trustees) in accordance with the terms of the Trust Deed.
The terms on which the Trustees administer the Trust assets are detailed in a Trust Deed and Trust legislation to govern Trusts has been enacted in many common law jurisdictions.
A Trust is the solution for individuals who:
- Want to preserve their wealth against uncertainty, political, economic or family
- Want to transfer wealth to their heirs in a tax-efficient manner
- Want to plan their estate to maximize the benefits of their wealth for family members and others
- Want to transfer wealth to their heirs in accordance with their wishes and not in accordance with the laws of the country where they live
- Want to consolidate the ownership of assets owned throughout the world in one location
- Want centralised reporting
- Want to minimise or eliminate estate taxes arising on the death of the settlor
When a Trust is established in a suitable offshore jurisdiction, provided that residents of the offshore jurisdiction are excluded from receiving benefit from the offshore trust, then there will be no local taxes applicable to the assets and income of the trust.
Foundations are a very important component when structuring the ownership of family and corporate assets and are particularly important where Trusts are not generally recognised. They are in many respects similar to corporate entities but afford the protection and continuity derived from the use of Trusts.
A Foundation is the solution for individuals who:
- Want to preserve their wealth against uncertainty; either political, economic or family related
- Want to transfer wealth to their heirs in a tax-efficient manner.
- Want to plan their estate to maximise the benefits of their wealth for family members and others
- Want to transfer wealth to their heirs in accordance with their wishes and not in accordance with the laws of the country where they live
- Want to consolidate the ownership of assets owned throughout the world in one location
- Want centralised reporting
- Want to minimise or eliminate estate taxes arising on the death of the founder
When a Foundation is established in a suitable offshore jurisdiction, provided that residents of the offshore jurisdiction are excluded from receiving benefit from the Foundation, then there will be no local taxes applicable to the assets and income of the Foundation.
Please contact any of our offices or SUBMIT AN ENQUIRY to the office of your choice and a consultant will shortly be in touch to arrange a free consultation.
