Trust / Foundation

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TRUST AND FOUNDATION

 

What is a Trust?  A trust is a relationship where an asset is held by one party for the benefit of another. A trust is created by the owner "Settlor", who transfers property to at "Trustee”, the person / entity holds that asset for the “Beneficiaries.”

 

What is a Foundation?   A foundation is a legal entity that has the capacity to execute rights and acquire obligations.  A foundation  is created by the “Founder” and generally has a purpose at preservations of assets for benefit of the “Founder” or “Beneficiaries”.

 

Benefits of a Trust/a Foundation

Self Photos / Files - bullet point Asset Protection. Assets under a Trust or a Foundation are beyond the reach of the Settlor's / Founder's creditors.

Self Photos / Files - bullet point Privacy. Since trusts are not registered with the government, there are no public records about them.

Self Photos / Files - bullet point Foreign Ownership.The Settlor / Founder/Benficiaries can be from any country and the asset can also be located in other countries.

Self Photos / Files - bullet point Tax Free. There are no corporate taxes or income taxes or any other tax. However, taxpayers whose government adopts global tax regime have to disclose all income to their tax authority.

Self Photos / Files - bullet point Tax Planning. You can work with your local tax advisor to tailor a structure suitable for tax planning.  

 

Usual Structure

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Jurisdiction Available

 

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Seychelles Trust

Fee: US$ 4,500

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Nevis Trust

Fee: US$ 4,900

Benefits

  • No tax on the trust property
  • Confidentiality- there is no need to register the trust deed and no requirement to file with any Government
  • Investment of the trust property is not restricted in any way
  • No forced heirship
  • Seychelles court has exclusive jurisdiction
  • No exchange control regulations
  • Stable economy and impartial judiciary
  • Comprehensive and modern legislations

 

Key Features

  • An international trust must have a licensed Seychelles resident Trustee
  • Non-resident co-Trustee as well as a Protector also be required 
  • Settlor cannot at any time during the duration of the International trust be a resident of Seychelles
  • An International Trust is up to 100 years unless terminated earlier
  • An International Trust can migrate
  • An International Trust can be administered from Seychelles or elsewhere

 

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Benefits

  • Asset protection
  • No proceeding against a trust unless the creditor places US$100,000 bond to the Ministry of Finance
  • Estate/succession planning
  • Holding of investment and intellectual property rights
  • Protection of inheritance wishes through avoidance of forced heirship rules
  • Continuation of ownership and management of business

 

Key Features

  • At least one of the trustees is either a licensed Nevis trust company or a Nevis IBC (not LLC) commonly called a PTC (Private Trust Company) .
  • Settlor and Beneficiaries are NOT residents of Nevis.
  • Any real estate in the trust is NOT located in the island Federation of St. Christopher and Nevis.

 

 

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Labuan Foundation

Fee: US$ 4,900

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Seychelles Foundation

Fee: US$ 4,900

Benefits

  • Registered corporate body with separate legal entity with the ability to -enter into contracts or any other lawful dealings on its own.
  • Protection from creditors claims (subject to conditions mentioned under item B) and against claims or intent to defraud with regards to the act of establishing the foundation, the disposing property and founder as beneficiary.
  • Protected from foreign claims and cannot be forcefully liquidated to satisfy other obligations such as claims arising from divorce, lawsuit or creditors.
  • Protection against forced heirship.
  • Not subject to compulsory perpetuity period.
  • Confidentiality and anonymity. Information concerning the Labuan foundation is not on any public record.
  • Simple and straight forward tax systems in Labuan. No tax in Labuan on non-trading activities.
  • Distributions by a Labuan foundation to its beneficiaries are tax-exempted in Labuan. However, the beneficiaries will need to satisfy their own tax liabilities in their respective jurisdictions of tax residence.
  • No foreign exchange controls.
  • No withholding tax /capital gain tax / inheritance tax.
  • No stamp duty on all instruments relating to offshore business activities.

 

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Benefits

  • Asset Protection.  The assets of the foundation cannot be used to satisfy the debts of the Founder or of beneficiaries. Where the assets have been transferred to the Foundation and out of the reach of creditors, claims must be made within 2 years.
  • Arbitration.  The Foundation Charter  may provide that any dispute arising in connection with the foundation be dissolved by arbitration, thus avoiding the public sphere of litigation.
  • Capital Requirements.  A minimum of US$1 of assets must be transferring to the foundation. There is no public records of the capital amounts other than this minimum transfer; so the sum of total assets held by the foundation remains confidential.
  • Tax Advantages.  The transfer, donation of assets to the foundation is not subject to any tax in Seychelles, neither is the modification, dissolution of the foundation. Income generated by the assets is not subject to taxes in Seychelles.
  • Recognition.  Recognises in all common and civil law jurisdictions.
  • Confidentiality. The management and operation of a foundation are not subject to any governmental supervision, the Foundation Council does not have to present reports to the authorities regarding Founders, Beneficiaries or the assets of the Foundation.

 

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Application Procedure

 

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Choose Trust or Foundation name and provide details of relevant Parties

·  Trust ( Settlor, Trustee, Beneficiaries, Protector)

·  Foundation (Founder, Council of Members, Beneficiaries)

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Provision of Due Diligence Requirements

   

        

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Establishment

 

 

 

 

 

Enquiry

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