|
|
|
 |
|
|
|
|
|
|
| |
|
| |
| |
A
fiduciary structure can help not only preserve your wealth but can
also offer you greater flexibility over the management and distribution
of your assets. The most common type of fiduciary structure is a
trust, a binding arrangement whereby assets are transferred to a
“trustee”. The Trustee is required to administer the
trust assets for the benefit of specified beneficiaries strictly
in accordance with the terms of the trust. Through GTA Worldwide’s
licensed Trust and Trustee companies clients are offered:
- A bespoke service regarding the Establishment of an offshore
trust
- Trusteeship and related services
- Administration of the trust funds.
- Trust accounting and maintenance of asset ledgers
- Reporting and filing as appropriate
- Guidance
|
|
Offshore Trusts Overview
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.
What 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 Offshore Trusts
- Private relationship, for example, in the Isle of Man offshore trust
deeds are not publicly registered.
- Wealth protection.
- Tailored to specific family requirements.
- Recognized in all common law jurisdictions.
- Increasing recognition in important civil law jurisdictions.
- An important tool in international income, capital gains and estate
tax planning.
- Used by corporations for employee benefit plans, retirement and
stock option schemes, insurance plans and special financing arrangements.
Offshore Trust Solutions for Individuals
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.
They 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.
Why establish a trust offshore?
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.
|
|
|
|
|
|
|
