Offshore Trust Overview
Generally, when people refer to offshore trusts, they are referring to a conventional trust that's incorporated into an offshore financial centre. They involve three parties, settlers, trustees and beneficiaries. The settlor(s) transfers the assets of the trust to the trustee(s), who in turn manages them on behalf of the beneficiary(ies). A protector may also be appointed to control the choice of trustee. Trusts are recognised in all common law jurisdictions and are recognised internationally under the Hague Convention on the Law Applicable to Trusts and on their Recognition. Prior to trust establishment, the terms of the trust must be agreed through in a trust deed, please follow the links to the left for more information.
With offshore trusts, local taxes in the jurisdiction are avoided given the domiciled residents of that jurisdiction are excluded from receiving the assets of the trust. Atlas can provide a full range of trust services including: trust establishment, trust accounting and administration and providing professional trustees. Please click here for further information.