Trust Creation Services

THE BRITISH VIRGIN ISLANDS

and

PANAMA

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Each of the above offshore financial centres offer modern and unique legislative features which provide us with powerful and flexible mechanisms to create a totally confidential offshore legacy. Our team of international Lawyers, accountants, Trust Managers, Investment Advisors and other professionals can relieve you of the administrative burden of fully managing your assets on a day to day basis, while simultaneously enabling you to suggest influential guidelines for the administration of your assets.

With proper planning, a Trust provides a solid mechanism to prevent erosion of wealth; to ensure smooth distribution of assets on the death of the Settlor/Grantor without delays, restrictions,and processing required with probate; and to protect Assets from dilution through:

Estate gift and other taxes, currency devaluation, inflation, foreign exchange control, death duties. future creditor or third party claims forced heirship (ie. unwanted beneficiaries imposed by the laws of other jurisdictions) confiscation of assets enforced repatriation of foreign assets unreasonable distribution of assets and income in the event of divorce and or death.

TRUSTS CAN ALSO BE USED IN THE FOLLOWING SITUATIONS:

• In place of a will in some circumstances
• In place of pre-nuptual contracts with the potential to protect assets against spousal or community property litigation
• As an alterantive means of participation in mutual funds or unit trusts
• To provide funding for pension schemes, annuities, or insurance plans
• To hold stock or the assets of private companies
• To hold title to property (real estate) or moveable assets such as objets d'art
• A Purpose Trust which incorporates a charitable contribution or gift
• To govern distribution of assets to beneficiaries who are incapable of managing substantial inheritances successfully
• To decrease and diversify risk, by separating assets
• To provide for uninterrupted ownership of assets, and easy inheritance transfers

British Virgin Islands

In The British Virgin Islands a Trust may be established by:

Settlement:-

which is the Trust instrument in which the Settlor/Grantor transfers Assets to the Trustee to be held according to the terms of the instrument.

Declaration of Trust:-

where a Trust is created by the Trustee, and Assets entrusted are afterwards placed in Trust by the person who wishes to use that Trust. Through this instrument, the Trustee declares that they hold certain Assets on specified Trusts. This procedure is used when the person transferring the Assets into the Trust does not wish to be named as Settlor/Grantor in the Trust Instrument.

Panama

In Panama, a Trust may be established through a Public or Private Instrument.

In both jurisdictions, a Trust may be revocable or irrevocable, at the Settlors/Grantors option. A Trust may also be discretionary (in which Trustees have discretion as to types of investment and also as to whether and when distributions may be made to Beneficiaries); or, non- discretionary (which specifically sets out beneficial interests which the Trustee must observe). In all three jurisdictions, the Trust Assets can be located anywhere. The governing law of the chosen jurisdiction is expressed in the Trust Instrument, but there need not be any other nexus with that jurisdiction ie. none of the Assets, nor the Settlor/Grantor, nor any of the Beneficiaries need to be resident there.