Each of the above offshore financial centers offer modern and unique legislative features which
provide us with powerful and flexible mechanisms to create a
totally confidential offshore legacy. Our team of international
Lawyers, accountants, Trust Managers, Investment Advisors and
other professionals can relieve you of the administrative burden
of fully managing your assets on a day to day basis, while
simultaneously enabling you to suggest influential guidelines for
the administration of your assets.
With proper planning, a Trust provides
a solid mechanism to prevent erosion of wealth; to ensure smooth
distribution of assets on the death of the Settlor/Grantor
without delays, restrictions, and processing required with probate;
and to protect Assets from dilution through:
Estate gift and other taxes, currency
devaluation, inflation, foreign exchange control, death duties.
future creditor or third party claims forced heir ship (i.e..
unwanted beneficiaries imposed by the laws of other jurisdictions)
confiscation of assets enforced repatriation of foreign assets
unreasonable distribution of assets and income in the event of
divorce and or death.
TRUSTS CAN ALSO BE USED IN THE FOLLOWING SITUATIONS:
In place of a will in some circumstances
In place of pre-nuptial contracts with the
potential to protect assets against spousal or community
property litigation
As an alternative means of participation in
mutual funds or unit trusts
To provide funding for pension schemes, annuities,
or insurance plans
To hold stock or the assets of private companies
To hold title to property (real estate) or
moveable assets such as objects d'art
A Purpose Trust which incorporates a charitable
contribution or gift
To govern distribution of assets to beneficiaries
who are incapable of managing substantial inheritances
successfully
To decrease and diversify risk, by separating
assets
To provide for uninterrupted ownership of assets,
and easy inheritance transfers
British Virgin Islands
In The British Virgin Islands a Trust
may be established by:
Settlement:-
which is the Trust instrument in which
the Settlor/Grantor transfers Assets to the Trustee to be held
according to the terms of the instrument.
Declaration of Trust:-
where a Trust is created by the
Trustee, and Assets entrusted are afterwards placed in Trust by
the person who wishes to use that Trust. Through this instrument,
the Trustee declares that they hold certain Assets on specified
Trusts. This procedure is used when the person transferring the
Assets into the Trust does not wish to be named as Settlor/Grantor
in the Trust Instrument.
Panama
In Panama, a Trust may be established
through a Public or Private Instrument.
In both jurisdictions, a Trust may be
revocable or irrevocable, at the Settlors/Grantors option. A
Trust may also be discretionary (in which Trustees have
discretion as to types of investment and also as to whether and
when distributions may be made to Beneficiaries); or, non-
discretionary (which specifically sets out beneficial interests
which the Trustee must observe). In all three jurisdictions, the
Trust Assets can be located anywhere. The governing law of the
chosen jurisdiction is expressed in the Trust Instrument, but
there need not be any other nexus with that jurisdiction i.e.. none
of the Assets, nor the Settlor/Grantor, nor any of the
Beneficiaries need to be resident there.
