Offshore Trusts
An offshore trust is considered the strongest asset protection tool. An offshore trust is very similar to a traditional trust consisting of an agreement among trustees, settlors and beneficiaries. The provisions are established in the Trust Deed.
Offshore trusts can hold and manage assets and property to provide benefits to a person or group of persons appointed as beneficiaries.
Offshore trusts are generally established in tax havens or low regulated jurisdictions known for safeguarding assets and maintaining their confidentiality.
Assets managed by offshore trusts are free of legal burdens that apply in the settlor`s home country. Offshore trusts may also provide a haven from inheritance scrutiny and taxation if the the trust is established for the benefit of the person who established the trust, spouse, children or heirs. Offshore trusts also provide protection from the effects of civil litigation and liability as well as for asset protection.
The assets held by offshore trusts include:
- Shares
- Stocks
- Real property/Intellectual property
- Bank deposits
The advantages of offshore trusts include:
- Wealth protection
- Confidentiality
- Acceptance in common law juridictions
- Acceptance in civil law jurisdictions
- An important tool in estate planning, capital gains, international income
Types of Trusts
- Charitable: for benefit of charitable organizations
- Private: include discretionary, accumulation and maintenance, life interest and fixed interest trusts
- Corporate: include pension and employee benefit trusts
- Purpose: trusts with no beneficiaries; established for purposes that are certain, reasonable and possible.
If you have questions about Offshore Trust please contact us.