Over the past few years, many offshore jurisdictions have formed and lost fame too! If you are hunting for the best place for offshore trust registration, here is a quick list you can choose from: Anguilla, Turks & Caicos Islands, Antigua, Trinidad, Anguilla, Seychelles, Bahamas, Nevis, Barbados, Montserrat, Belize, Mauritius, British Virgin Islands, Marshall Islands, Cayman Islands, Marianas, Cook Islands, Malta, Cyprus, Liechtenstein, Gibraltar, Isle of Mann, Guernsey and Jersey. Some of these destinations have a very long history in offering offshore trust registration.
Best place for offshore Trust Registration – History of Cook Islands
According to experienced investors, Cook Islands has a very long history in providing amazing opportunities for offshore trust registration. A key feature that differentiates Cook Islands from the rest would be the ability to spendthrift trusts. Similar rules have being tried in other jurisdictions too; however, they have not being as effective as what is implemented in Cook Islands.
Also, Cook Islands has a very long history in offshore banking. When compared against the banking industry in countries like Nevis, Cook Islands is stronger and extremely safe.
Best place for offshore Trust Registration – Nevis LLC
On the other hand, Nevis is famous for its formation of LLCs. When you start an offshore trust in Nevis, you should post a bond fee of 25,000 USD to take care of the defendant’s legal charges. These charges should be made before the creditor starts litigation. However, the limitations and statutes of acceptance depend on the foreign jurisdiction. It differs drastically from one offshore country to another.
Moreover, offshore countries like Nevis, Bahamas and Cyprus require at least two years to complete fund transfers to trusts.
Delegating Assets & Control
A lot of people find the process of delegating all their assets and control to the trust difficult. They wish to remove themselves only during litigation or duress. This is a tacky strategy offered by very few offshore destinations. Most offshore trust registration jurisdictions transfer assets and properties to the “Trust”.
Hence, the assets are carefully protected from potential litigators and creditors.
Your Needs & Wants
Last but certainly not least, the best place for offshore trust registration depends on how much you spend. The trust’s actual value is not determined by the amount of tax you save. However, it is identified by the level of protection you enjoy.
There are many protection mechanisms out there; nevertheless, these mechanisms depend on the country you pick. The best asset protection jurisdiction is an one that falls in line with your requirements and financial needs.BRIS GROUP will be happy to provide you with information, quotation and services.