Trust is a type of contract that enables one person to create financial benefits for the benefit of another. The main idea of the trust is to provide financial benefits if a number of conditions are met.
- Funds to guarantee financial security
- Funds for collecting money
TYPES OF ASSETS IN TRUST FUND
- cash
- objects of movable and immovable property
- securities (stocks and bonds)
HISTORY OF ESTABLISHMENT OF TRUST FUNDS
Even in Ancient Egypt there was a custom of transferring property management. So, the pharaohs entrusted this to their priests. Trust fund as a term originated in the Middle Ages in Great Britain. It has been used in difficult property management situations, regardless of family ties.
ADVANTAGES OF OPENING A TRUST FUND
- No taxation on fund’s assets
- Assets cannot be subject to collection by creditors
- Alternative to bequest
- Possibility of opening a trust fund and imposing certain conditions and restrictions
Usually, a trust fund is opened in accordance with certain requests and serves as an excellent financial instrument. Contact our specialists and get detailed advice on all the benefits of opening a trust fund.
WHICH COUNTRIES ARE SUITABLE FOR OPENING A TRUST FUND?
Since each jurisdiction has a number of specific requirements for the functioning of funds, it is worth considering carefully the issue of choosing a suitable country.
Among the most popular, usually the following are distinguished:
- Cyprus
- United Kingdom
- Malta
- Countries of the Caribbean
PECULIARITIES OF TRUST FUNDS IN DIFFERENT JURISDICTIONS
MALTA
Has the form of a will, the residence of the founders does not matter, there are no annual fees or taxes
MADEIRA
There is no foreign exchange control, it is necessary to conduct an audit and submit reports
BARBADOS
The trustee is a citizen of the jurisdiction, income tax is from 25 to 50%
IF YOU WISH TO OPEN A TRUST FUND - CONTACT US!
Our specialists provide a full range of services: from preparation of documents to full support of the transaction.
Contact us now and find out all the peculiarities of working with trust funds in any jurisdiction.
Oleg Venediktov
General counsel of VIP Departament
Also, our company provides licensing services for various types of activities
You can get additional information by phone:
+35725263434 or email: assist@legalawyers.com
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