| The
use of a Trust for asset protection and estate
planning dates
back
several centuries. Trusts have become a seriously effective means of
minimizing
taxes, protecting assets and passing wealth along to heirs in
private
and without devastating tax consequences.
The
very wealthy have used the trust approach for many years. With recent
development
in the offshore world where more jurisdictions have adopted effective
laws,
the trust has become an instrument available to people of lesser means.
For nominal costs, minimal formalities and on short notice, a Trust can
quickly come into being. We invite you to consider the trust a part of
your personal and corporate financial planning, either alone or in
conjunction
with a IBC (International Business Company) where the Trust is the
shareholder
of the IBC. This makes the beneficial owner of the company virtually
bulletproof.
Some Information About A Trust
In
general, a Trust involves:
- A
Settlor or
Grantor: The person, company
or other entity placing property into a trust.
- A
Trustee: The
individual, company,
another trust or their entity who receives the property to be managed
for
the benefit of those individuals, companies, trusts, or other entities
named as Beneficiaries.
- The Beneficiary
or
Beneficiaries: The
individual/s, company or companies, trust/s or other entities named to
benefit from the trust property.
- The Trust
Document, The Deed or Declaration
of Trust is the written instrument which details the duties of the
Trustee,
names the Beneficiaries and lists the property in the Trust Corpus or
body
of assets.
In
litigious countries such as the United States, it has become common
practice
for individuals to seek offshore trusts for protection against:
- Malpractice
claims, in the case of Medical
Doctors and other professionals,
-
Product
liability
- Creditors,
either
Business or Personal
- Court Judgments
- Problematic
divorces
Speed Where
Speed Is Important
A
trust can be established in a few hours, literally. While it might take
longer to have property transferred into a trust, time can be a factor
as to the dating of the Deed. Generally, a Trust Deed is not registered
with any tax jurisdiction. There is no requirement for accounting
reports
to any agency.
The
Advantages of an Offshore
Trust
- Tax savings,
avoidance and deferral:
You can save, avoid and defer many taxes in many ways. You don't owe
tax
until you "repatriate" your assets, whether they be cash or the very
house
you're sitting in now. Any asset can be designated Trust Property. And
if the Trust is in another jurisdiction, chances are those assets can
earn
interest, or accrue whatever pertinent value without being subject to
domestic
taxes such as capital gains taxation.
- Safety:
Keeping
assets offshore provides
a financial reserve should disaster strike at home, or in your domestic
financial life.
- Protection
Against
Judgment: In a lawsuit-happy
world it's nice to have reserves that can't be "seized", "liened" or
"attached"
with the stroke of the Court's pen or the phone call of a tax authority.
- Confidentiality:
A
private contract,
a legal agreement, and the business of no one but yours, the trustee's
and whomever else you think needs to know. The offshore Trustee is
required
to say nothing to external inquisitors.
- Ease of
Transfer
of Interest to Heirs
or Others: Wills, living trusts, and domestic trusts invariably pay
taxes
- especially when assets are transferred.
- Earnings
and a
Faster Accumulation of
Wealth: Trusts can own companies, have bank
accounts,
own portfolios, hold trading accounts and not pay taxes.
Creation of
a Trust It is
important to be selective with the jurisdiction in which your offshore
Trust is based and Belize has some of the best legislation governing
Trusts.
A Belize Trust, does not require a Social Security number and has no
reporting
requirement whatsoever. You can keep your financial affairs in complete
confidentiality and your property safe from claims, judgments, or
bankruptcy
proceedings. U.S. taxes or taxes from any other country cannot be
imposed
upon earnings or assets of non-domestic, irrevocable discretionary
Belize
trusts. The
Trust is one of the most flexible financial instruments and entities to
ever come about. We offer the establishment and management of these
offshore
trusts under the jurisdiction of Belize.
We provide
service on a personal basis while maintaining maximum confidentiality.
Total
cost to establish an Offshore Trust in Belize is US$ I,390 including a
choice of offshore banks we use.
Trust
Application form Back
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Offshore
Services Inc. Offices
in Belize, Dominica, Barbados and The Bahamas.
All enquiries through US Office:
Phone 1-213 596 3680
Fax 1-253 423 3144
Attn. Rodney Brewer email Home
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