OCRA
Worldwide Offshore Trusts
OCRA Worldwide Offshore Trusts
OCRA
Worldwide Offshore Trust Review
An
offshore trust is created when assets are transferred to a
trustee. The trustee becomes the legal owner and is responsible
for managing the assets and distributing them to the beneficiaries
of the offshore trust (which could include the person or corporation
which transferred the assets to the trustees) in accordance
with the terms of the trust deed.
The
terms on which the Trustees administer the trust assets are
detailed in a trust deed and trust legislation to govern trusts
has been enacted in many common law jurisdictions.
What
assets can be held by an offshore trust?
- Shares
and stocks in both quoted and unquoted companies.
- Investment
portfolios.
- Real
and intellectual property.
- Bank
deposits.
- Life
assurance policies issued on the life of the Settlor.
- Most
other types of asset
The Advantages of Offshore Trusts
-
Private relationship, for example, in the Isle of Man offshore
trust deeds are not publicly registered
- Wealth
protection
- Tailored
to specific family requirements
- Recognized
in all common law jurisdictions
- Increasing
recognition in important civil law jurisdictions
- An
important tool in international income, capital gains and
estate tax planning
- Used
by corporations for employee benefit plans, retirement and
stock option schemes, insurance plans and special financing
arrangements
OCRA Worldwide Offshore Trust Solutions for Individuals
A trust is the solution for individuals who:
- Want
to preserve their wealth against uncertainty, political,
economic or family
- Want
to transfer wealth to their heirs in a tax-efficient manner.
They want to plan their estate to maximize the benefits
of their wealth for family members and others
- Want
to transfer wealth to their heirs in accordance with their
wishes and not in accordance with the laws of the country
where they live
- Want
to consolidate the ownership of assets owned throughout
the world in one location
- Want
centralised reporting
- Want
to minimise or eliminate estate taxes arising on the death
of the Settlor
Why establish a trust offshore?
When
a trust is established in a suitable offshore jurisdiction,
provided that residents of the offshore jurisdiction are excluded
from receiving benefit from the offshore trust, then there
will be no local taxes applicable to the assets and income
of the trust.
For
further information on OCRA Worldwide Offshore Trusts visit
the OCRA Worldwide Website.
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