Unsure about offshore?

STEP Guide

Offshore centres are places which, like many onshore centres, compete on a mix of political and social stability, clusters of expert advisors, good infrastructure, sound regulation, good corporate governance, and tax neutrality. It is this tax neutrality which allows foreign denominated deposits to be invested into major onshore countries from overseas. Here are a few myths about offshore centres and some facts. read more (PDF)...

What is a Trust ?

A Trust is a legal arrangement between a Settlor and a trustee whereby the trustee keeps on trust assets that were transferred by the Settlor to the Trustee for the benefit of the beneficiaries

The Settlor is the person(s) who transfers assets into the trust. This can be done in various manners for instance by giving a donation to the trust or by giving a small donation and a loan to the trust. By transferring the assets into the trust the Settlor gives up his legal ownership to the assets

The Legal ownership is transferred to the Trustee. By law it is the duty of the Trustee to hold the assets on
trust on behalf of the Beneficiaries. The Beneficiaries are those people who will derive the benefit, both capital and/or income, from the Trust

The Trustee is normally a corporate entity usually situated in an international financial centre such as the Isle of Man, Mauritius or New Zealand, which is responsible for the administration of the trust and provides confidentiality for the beneficiaries.

The trust instrument is the document that describes who the parties (Trustee, Settlor and beneficiary (ies)) to the trust are

All the trust assets are invested in the name of the Trustee as the legal owner. An annual or bi-annual statement is issued to the client to reflect on the total value of the trust’s assets.

The Settlor may guide the Trustee by giving a Letter of Wishes. The letter of wishes makes the intention of the Settlor clea