Offshore Trusts

A trust is a type of legal arrangement that involves transferring control of your assets to a trustee that holds them on behalf of the beneficiary. Usually a trust is created for a specific purpose, such as avoiding certain taxes.

A trust is also useful for avoiding costly probate procedures related to disposing of assets after the owner passes away.

Once the trust is created, assets are legal transferred to the trust fund. At this point the assets cannot be taken back by the person initiated the transfer.

Offshore trusts work in a similar way to normal trusts. The main difference is that they are set up in association and under the legal control of offshore trustees which are usually located in countries and territories considered as tax havens. (e.g. the Bahamas or the Channel Islands).