Setting up an offshore Trust

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Offshore trusts are usually set up in tax friendly offshore jurisdictions to enable the settlor and beneficiaries of the trust to benefit to the fullest from the trust’s establishment.

When it comes to taxation of a trust it may help to think of the trust as an individual person in its own right. So, when it comes to the taxation of an offshore trust, the trust as a legal entity has to be deemed ‘non-resident’ in order for it to avoid both income and capital gains taxes being levied against it. Basically, to achieve this non-resident status the trust’s trustees have to be non-resident and the full administration of the trust has to be carried out abroad.

A trust is a good way to keep money out from the tax service as well as having a trust helps ensure you to allocate your saved money to your family or whoever you wish to.