Typical Uses
What are Offshore trusts used for?
An offshore trust may be the answer for an individual, who wishes to achieve one or more of the following:
- Estate planning. A trust is an ideal structure for passing wealth to succeeding generations with minimum formality
- Avoidance of taxes such as estate, taxes, capital gains taxes and income taxes. The benefits can be even greater for those beneficiaries who come after the original settlor
- Preservation of wealth against political interference or future economic uncertainty
- To transfer wealth to heirs free of the restrictions found in some systems of law such as the civil code of Continental Europe or the Sharia law
- Consolidate the ownership of assets in a single location, which does not impose taxes, for effective management
- To benefit charity, or a good cause which is not defined as charitable (Purpose trust)
- Employee benefit plans, retirement and pension plans, stock option schemes
- Unit trust schemes
What assets can be transferred to a trust?
- Stocks and bonds quoted on a Stock Exchange
- Shares in private companies
- Bank deposits - Cash from both onshore and offshore banking accounts
- Real and intellectual property
- Life assurance policies
- Most other types of asset
Other advantages of using trusts
- Flexibility. The document, which creates a trust, does not have to be in a prescribed legal form and can be tailored to the circumstances
- Privacy, in most common law jurisdictions trusts are not publicly registered
 Why not talk to us? Call +353 1 431 9663 or Click Here to contact us.
|
