Why Going Offshore is Right for Your Business
ConsultationTeam3Going offshore is one of the smartest ways of doing business. Regardless of what kind of business yo ...
Offshore trust
with nominee trustee service and offshore bank accounts
confidential offshore trust registration and offshore bank accounts
The term "trust" is widely known and used, however there are often many misunderstandings as to what a trust actually is. The correct definition of a trust is an agreement or contract. It is not, as many believe a special type of company. It is purely an agreement -albeit a very special one, between three parties:
Settlor
The Settlor is the transferor of the assets into the trust. Any kind of asset can be transferred, funds, shares, cars, boats, real estate and even non entities such as patents or rights. Once the assets have been transferred into the trust this cannot be revoked. Once the Settlor has transferred all the assets into the trust he can legally declare that he does not then own them. This is of special interest in cases of bankruptcy, divorce and inheritance or legal claims. Trusts are one of the most preferred methods employed by US medics to protect their assets in case of malpractice claims being brought against them.
Trustee
The trustee is the official manager of the trust. Officially the trustee must be independent from the Settlor and has all rights and full control over the actual running of the trust. Obviously few people would wish to pass that amount of control over their assets to a third party so generally the trustee will always act unofficially on instruction from the Settlor. It is possible to draft a separate agreement between the Settlor and trustee ensuring the Settlor retains full control. In order to act as trustee over any trust, the trustee must hold a special license. Coldwell have the benefit of using the services of a long established and reputable trustee.
Beneficiary
As the name suggests, the Beneficiary is the person or persons who finally receive the assets from the trust. The Settlor can be a named Beneficiary. All entitlements to beneficiaries must be set at the commencement of the trust and cannot be revoked or changed. Once the beneficiary has received the assets from the trust he is then liable to declare this and pay due taxation. The Beneficiary can receive regular payments from the trust, for example from the interest or can wait for the expiry of the trust and receive all assets and interest in full.
Advantages of a trust:
- the settlor can transfer any assets he has and legally declare he does not own them
- no assets that belong to the trust can be seized
- potential inheritors cannot make claims against the trust
- trusts are exempt from taxation
Disadvantages of a trust:
- trusts cannot engage in business but purely manage and protect the existing assets
- trusts have a maximum duration period of 99 years
- the Beneficiaries are liable for taxation upon payout of the assets
- once a trustee has been selected it is almost impossible to replace him
- to avoid these disadvantages you might consider registring a foundation instead
Trust
- registration of a trust including:
- name check
- verification of legalities
- preparation of documents to gain liability protection
- preparation of registration forms
- handling the filing and registration with notary and government offices
- international authentication set with apostille
- payment of filing fees
- issuing trust deed
Fees trust
4.900,- Euro
Your order is important to us and we guarantee professional services.
Incorporate your trust quick, easy, affordable.
If you experience problems opening the order form,
please call customer support at +44 20 7117 0 700.
You can add the following services to your trust:
optional | privacy protection shield
| nominee service through lawyers | 990,- Euro |
Information:
For the highest level of privacy protection we offer a lawyer to form the company on your behalf. That prevents your personal details from being released to the authorities at any time. Once incorporated the lawyer hands the full and sole control over to you. As a result you have utmost confidentiality together with the entire control.
optional | virtual offices
| standard edition, monthly, London or New York | 49,- Euro |
| professional edition, monthly, choice from 29 cities worldwide | 90,- Euro |
Information:
Both virtual office services include a prestigious address with phone and fax numbers. The standard edition will direct calls to an answer machine with your company greeting and recorded messages are then sent via Email. The professional edition includes permanent live call forwarding to any number world wide.
optional | bank accounts
| offshore banking, New Zealand | 390,- Euro |
| offshore banking, Cyprus | 390,- Euro |
| offshore banking, Dominica | 390,- Euro |
| offshore banking, Dubai | 390,- Euro |
| offshore banking, Isle of Man | 390,- Euro |
| offshore banking, Latvia | 390,- Euro |
| offshore banking, Panama | 390,- Euro |
| offshore banking, Seychelles | 390,- Euro |
| offshore banking, St. Vincent | 390,- Euro |
| offshore banking, Switzerland | 390,- Euro |
Information:
Our account opening service offshore banking offers feature rich business checking accounts. Depending on the jurisdiction and your business the accounts offer internet banking, multi currency services, cheques, letters of credit and VISA cards with a daily limit of 10.000,- Euro to withdraw cash at any ATM worldwide. Offshore banks offer the highest level of privacy protection and are tax free.
optional | merchant account
| offshore merchant account | 390,- Euro |
Information:
Our service to set up an offshore merchant account allows you to accept credit card payments from your customers. Our merchant account is specialised on offshore businesses and includes the necessary contracts as well as the technical system to operate the transactions. You can integrate the payment system to your web site and also accept credit card payments over the phone.
optional | add-ons
| creation of a company logo | 49,- Euro |
| company rubber stamp | 49,- Euro |
| company seal | 49,- Euro |
| company name plate | 49,- Euro |
recurring fees from 2nd year on
| annual renewal | 990,- Euro |
| incl. maintenance | |
| incl. registered office | |
| incl. registered agent |
Contact us
We are always glad to receive your phone call. Our team of experts are on hand to answer any questions you may have, free of charge and without obligation. So don't hesitate to contact us.
Office hours: Monday to Friday (UK time)9.00 am to 12.00 noon and 1.00 pm to 6.00 pm Phone: +44 20 7117 0 700
It is currently in London
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