Trusts & Foundations

Addressing the Needs of Individuals and Planting the Seeds for a Secure Future

We provide useful advise and a unique integrated approach that can help you manage your wealth through formation of Trust or Foundation.

  • Succession Planning
  • Property Protection
  • Tax Savings
  • Estate Planning

What is the Difference Between Trusts and Foundations?

Trusts and foundations are very effective solutions for those seeking to preserve family wealth, protect their children’s interests or ensure confidentiality. Popular among high net worth individuals, these tools are more frequently used in a bid to avoid economical and financial risks and instabilities associated with the applicant’s country of residence.

Many countries worldwide adopt highly favourable laws which act as an incentive to establish a trust or foundation there. One of the main benefits of creating a trust or foundation is the avoidance of forced heirship rules, protection of assets against creditor claims and high levels of privacy regarding the assets held and the parties to the trust or foundation.

The choice of the suitable asset protection tool depends on country-specific laws and regulations applied to foundations and trusts. Trusts are usually used in countries of common law, whereas foundations are used in countries adhering to civil law.

Private foundations may be very similar to trusts in their function, ownership and control structures. They usually share common regulations, for instance via the OECD’s Common Reporting Standard for automatic exchange of information. However, private foundations do have to register and incorporate in many countries.

What to Consider When Setting up a Trust or Foundation?

When setting up a trust of foundation the following elements are taking into consideration:

  • Purpose for which the trust or foundation may be established.
  • Privacy, reporting standards and information exchange on international level.
  • Legal procedure and requirements involved.
  • Permitted economic activity.
  • Provisions of supervision, management and ownership.
  • Tax status of the foundation or trust.

Basic Steps for Setting up your Trust or Foundation

  1. Choose the right jurisdiction.
  2. Choose the name of your Trust or Foundation,
  3. For the Trust you will need to appoint a Settlor (person who forms the trust), the Beneficiaries, Trustees and the Protector of the Trust.;
  4. For the Foundation you must appoint the Founder, the Protector, the Beneficiaries and the Council Member.
  5. Submit your application forms and personal documentation to the register.

How we Can Help You?

Setting up a trust or creating a foundation is quite a complex process, which requires specific knowledge, experience and professional advice. We can provide professional consultancy on trust and foundations set up, as well as all related areas to ensure you are aware of the options available to you and that the solution we find will meet your precise asset protection needs.

Please do not hesitate to contact us if you have any questions or need our assistance for setting up a trust or foundation.