Legal agreement establishing a fiduciary relationship between 3 or 4 parties-the settlor,beneficiaries,trustee and in some cases the protector. Assets are placed in the trust, transferring legal ownership of the assets to the trustee who in turn manages the assets for the benefit of the beneficiaries. The trust deed defines the objectives of the trust and outlines the roles and duties of the trustee and protector and as well the terms and conditions for the distribution of the trusts assets for the beneficiaries.
Top Five Offshore Trust Jurisdictions
- Belize
- British Virgin Islands
- Cook Islands
- Nevis
- St Vincent And The Grenadines
Foundations
Unique legal structure that encompasses the benefit of a Corporation as well as the asset protection features of a trust. Separate legal entity where the legal ownership of the assets are transferred to the foundation.
The foundation charter is a public document containing the main provision governing the foundation, purpose and assets.
The Council manages the assets in accordance with the by-laws and regulations set by the founder while the protector controls and oversees the foundation.
Top Five Jurisdictions For An Offshore Foundation
- Belize
- Cook Islands
- Nevis
- Panama
- Seychelles
By: Warren Ferguson
