The 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.
For Asset Protection:
In litigious countries such as the United States, it has become common practice for individuals to seek offshore trusts for protection against:
Malpractice claims in the case of Medical Doctors and other professionals Products liability Creditors, either Business or Personal Judgments Problematic divorces
The Trust Must be Irrevocable to qualify in many cases as a true asset protection device. If the Beneficiary or Settlor have ready access to trust property, tax authorities can "demand" compliance with local laws and tax regulations of the beneficiaries or settlor. A trust cannot be all things to all people in all situations. Multiple trusts might be called for: One for tax reduction, another for minimizing liability by holding physical assets.
Keeping assets offshore provides you a financial reserve should disaster strike at home, or in your domestic financial life.
Protection Against Judgment: In a lawsuit-happy world it's nice to have reserves that can't be "seized", "liened" or "attached" with the stroke of the Court's pen or the phone call of a tax authority. Though not impossible for them to get at, it's much harder f or them to attach your assets, when they're held in Trust, offshore, by a Trustee who isn't beholden to anyone but the wishes and the good of the beneficiaries.
Speed Where Speed Is Important:
A trust can be established in minutes, literally. While it might take longer to have property transferred into a trust, time can be a factor as to the dating of the Deed. Generally, a Trust Deed is not registered with any tax jurisdiction. A trust is a private arrangement. Normally, there is no requirement for accounting reports to any agency. On the contrary, there is no access provided to the activities of the trustee except as arranged by the parties or through the courts, and that is not easy.
The Advantages of an Offshore Trust :
Tax savings, avoidance and deferral: You can save, avoid and defer many taxes in many ways. You don't owe tax until you "repatriate" your assets, whether they be cash or the very house you're sitting in now. Any asset can be designated Trust Property. And if the Trust is in another jurisdiction, chances are those assets can earn interest, or accrue whatever pertinent value without being subject to domestic taxes.
A private contract, a legal agreement, and the business of no one but your's, the trustee's, and whomever else you think needs to know. The offshore Trustee is required to say nothing to external inquisitors.
Ease of Transfer of Interest to Heirs or Others: Wills, living trusts, and domestic trusts invariably pay taxes - especially when assets are transferred. An offshore trust does not.
Earnings and a Faster Accumulation of Wealth: Trusts can own companies, have bank accounts, own portfolios, hold trading accounts. and not pay taxes.
The Trust is one of the most flexible financial instruments and entities to ever come about. We offer the establishment and management of these offshore trusts primarily under the jurisdictions Seychelles. We can provide them in many other jurisdictions as well through our correspondent and associate companies abroad.