Benefits of an Offshore Trust

DRAFT

An offshore trust is similar to a conventional trust which is formed under the laws and regulations of another country’s legal system.

Many people choose to open offshore trust accounts because they normally come with sizable benefits, that can be used to achieve cost efficiencies and costs savings.

Many countries have altered their tax laws which make opening an offshore trust in their country even more beneficial.

There are many benefits of opening an offshore trust:

1. Privacy. Depending on the jurisdiction of where the trust is opened, the settler can give assets to a trust anonymously. This aspect of a trust is quite important as it allows someone to disassociate themselves with the assets donated to the trust. This can be beneficial for someone looking to remain anonymous for either professional or personal reasons.
2. Protection of assets. In certain countries, tax rates on inheritance or other forms of wealth transfer are extremely high. An offshore trust will protect the wealth of an individual and or organisation from being lost through either governmental taxation or through litigation processes.
3. Flexibility.  Trusts can be designed to meet anyone’s specific needs of asset protection. Because of this, these trusts can be ideal for personal or professional reasons. Many organizations are now beginning to include offshore trusts into their employee benefit plans, as they can be used for either retirement or insurance plans.

The process of opening an offshore trust can be complicated. Prior to opening a trust, it would be wise for the trust owner to discuss the trust with a professional company that has experience in setting up offshore trusts.

Valetime Group can offer help and advice in settings up International Corporate Structures that can benefit both organisations and individuals.

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