What is an Offshore Trust?
A trust can be located in any country as long as the jurisdiction recognizes the legal concept of a trust, however only a few offer sound asset protection statutes that are required by many who are legally vulnerable. Some jurisdictions have very favorable statutes specifically written to protect the assets of the beneficiaries of a trust. Some of the strongest offshore trust jurisdictions are Cook Islands, Nevis and Belize. Selecting the proper jurisdiction is critical because not all jurisdictions offer strong asset protection benefits.
Extensive trust experience is paramount with any trust company, whether that is onshore or offshore. There are numerous well-established and reputable trust jurisdictions that offer administration as well as a strong legal structure to safeguard your assets offshore. OffshoreCompany.com has relationships with the legal, government and professional agents in all of the recommended jurisdictions offering the most beneficial trust legislation for asset protection and financial privacy.
Almost any type of asset can be transferred into a trust offshore. This includes cash, real estate, securities, businesses, art and gold. It should be noted that offshore trusts must be established properly in order to secure one’s wealth. The manner in which assets are transferred into the trust depends upon the type of asset. Titled assets such as real estate or vehicles merely require a title change. Untitled assets such as furniture and equipment simply require the assets to be listed on a sheet of paper that attached to and referenced in the trust.
Typically we will establish an offshore limited liability company in the Caribbean island of Nevis that will be 100% owned by the trust. This places a legal tool inside of the trust that you can utilize to manage the day-to-day activities while not under legal duress. Your opponent-at-law could not use the “fraudulent conveyance” of assets argument because when legal trouble arises you are not transferring assets. You are only transferring management of the company. The management of the LLC is held by the (licensed and bonded) trustee on a temporary basis until the period of legal duress passes. Therefore, when a judge commands the release of trust assets the trustee, who is outside of the judge’s jurisdiction, can refuse to comply. Thus, the assets remain safe inside of the trust.
OffshoreCompany.com makes the process easy for you and can assist with the tedious documentation necessary to establish your trust and works with all of its clients to ensure that their best interests are protected.
Last Updated on July 31, 2015