An offshore foundation is a legal entity with the main difference to an offshore trust is that it doesn’t have any members, shareholders or partners.
The world’s first foundation “Foreign & Colonial Investment Trust” was established in Scotland over 100 years ago. Classic jurisdiction to create offshore foundations – British Virgin Islands, Cayman Islands, Luxembourg, Dublin.
Main elements and key individuals involved in the creation of a private offshore foundation:
Offshore funds, unlike trusts, do not need shareholders and trustees.
Recently, there has been an increase in popularity of offshore foundations that have been used to a wider scale relative to offshore trusts.
Foundations – legal entities and the most robust vehicles for protecting and delivering assets.
Foundation can be used for private, commercial and charitable wealth for flexibility and control over the administration of assets.
BRIS GROUP foundation service includes:
BRIS GROUP provides administration services for foundations, including the provision of a company or a third-party to act as founder and as a member of the Council and for the opening of bank accounts, among others. It will takes 2-3 business days to set up an offshore foundation and 2 business days to open a bank account.
• want to protect personal capital due to the political, economic and family instability.
• want to pass capital to heirs in the most efficient way from a tax perspective.
• plan the distribution of profit among family members most effectively.
• want to exercise their right of inheritance according to their wishes, and not to the national legislation of their residency.
If you would like to protect your wealth from future uncertainties, an offshore foundation can be an ideal solution for you. In order to get more information, advise and help with setting up an offshore foundation please contact us.