The utilisation of an offshore trust is fundamental to protecting a client’s confidentiality and asset security. Gibraltar is a perfect offshore entity to help satisfy these needs.
Because assets held within an offshore trust are held under the name of the trustee rather than the settlor so the settlor’s privacy is protected, furthermore a trust document is not a public document therefore the assets within the trust and beneficiaries of the trust are also protected.
An offshore trust in Gibraltar can be useful to an individual wishing to remove assets away from the reach of unfair litigation, e.g. because a trust removes a layer of transparency it can be harder for someone to decide whether or not an individual is a financially interesting target to sue.
Those who have large business and personal assets often find that an offshore trust is needed for their personal wealth management and also for the protection/security.
An offshore trust can also help with ongoing tax planning and estate tax planning but care must be taken to ensure that the settlor who wishes to establish the trust does not create a taxable action by placing assets within the trust structure. Offshore trusts and taxation are incredibly specialist areas of expertise. It is important to carefully select a trust company, trustees and offshore jurisdiction are essential for the individual to ensure their actions are legal, tax efficient and appropriate for their needs.
Anyone considering establishing an offshore trust can speak to one of our advisors today- Trust law is complex and because assets placed within an offshore trust are placed outside the direct reach of the settlor it is essential that the trust is structured perfectly for the settlor according to his direct wishes and requirements.
Contact Prime Trust today and we can help you decide which trust structure is ideal for you.
