You are exposed to risks— including government wealth confiscation—when you hold assets to your name. If you want to safeguard your wealth, offshore trust formation might just be the perfect solution for you. By establishing a trust in an offshore location, you can enjoy tax benefits and other bonuses including privacy. Here are some simple steps to follow if you are interested in offshore trust formation:
1. Research on offshore countries – You don’t need to set up a trust from one of the “Big 7” offshore financial centers. There are dozens of offshore countries where you can easily set up a trust that will best suit your requirements.
2. Enlist the help of an offshore trust formation firm – Make sure the firm you contact is based in or specializes in the offshore country of your choice. You should also check if the firm is a licensed international trust service provider that is regulated by appropriate services authority in the offshore country.
3. Comply with the list of requirements – For firms to be able to create the best offshore trust formation for your needs, you should be able to provide them the information and documents required. Details include the country of your residence as well as your beneficiaries, etc.
4. Agree on terms and structure – It is important that you are comfortable with the setup the offshore trust formation provider will give you. Will the trust service provider be a nominee founder or protector? You may also request for additional services like bookkeeping or accounting as well as assistance in opening an offshore bank account.
5. Sign and transfer – A trust of the deed, as well as other necessary documents for offshore trust formation, will be drafted. You simply need to sign and then execute the transfer of assets.
1. Research on offshore countries – You don’t need to set up a trust from one of the “Big 7” offshore financial centers. There are dozens of offshore countries where you can easily set up a trust that will best suit your requirements.
2. Enlist the help of an offshore trust formation firm – Make sure the firm you contact is based in or specializes in the offshore country of your choice. You should also check if the firm is a licensed international trust service provider that is regulated by appropriate services authority in the offshore country.
3. Comply with the list of requirements – For firms to be able to create the best offshore trust formation for your needs, you should be able to provide them the information and documents required. Details include the country of your residence as well as your beneficiaries, etc.
4. Agree on terms and structure – It is important that you are comfortable with the setup the offshore trust formation provider will give you. Will the trust service provider be a nominee founder or protector? You may also request for additional services like bookkeeping or accounting as well as assistance in opening an offshore bank account.
5. Sign and transfer – A trust of the deed, as well as other necessary documents for offshore trust formation, will be drafted. You simply need to sign and then execute the transfer of assets.
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