Benefits of Offshore Trust Services

A common reason why people subscribe to offshore trust services is asset protection. With an offshore trust, assets are more difficult to reach and foreign civil judgments are not recognized.   A foreign judge from the domicile of the settlor or any beneficiary cannot compel the release of assets or funds from an offshore trustee to any judgment creditor, making offshore trusts one of the strongest tools to protect assets. This is possible because popular jurisdictions don’t recognize judgments originating from foreign countries except where assets are fraudulently conveyed (i.e. the settlor new there was a creditor when settling the trust) and even then sometimes only for a limited time period. If for instance, a financial enemy decides to pursue assets that are held in your offshore trust; he or she will have to initiate an expensive litigation in the jurisdiction of the offshore trust. Financial enemies are unlikely to consider this proposition because it is even less likely, if not illegal, that your offshore assets could ever be touched. In addition to asset protection, below are other major benefits of offshore trust services:

 

• Tax planning – Capital gains taxes, inheritance, as well as wealth taxes are sometimes minimized when assets are held in a foreign trust. Offshore trust services also enable great flexibility for settlors who may choose to move between jurisdictions whenever relocating to high tax areas.

 

• Succession and estate planning – Placing certain assets in a Trust completely separates them from your estate. Trust structures can be utilized to protect held assets from burdensome heirship rules that apply in some jurisdictions. By specifying the wording of his Trust Deed, the Settlor can make sure that his assets will be passed to the proper beneficiaries according to his wishes upon his death. Alternatively, he may opt to provide for the education of his children by establishing a Trust, arranged for this specific purpose.

 

• Ease of administration – Creating a trust structure helps simplify management of a settlor’s wealth by centralizing worldwide assets and ensuring continuity of administration.

Bank Account Seychelles – Ways to Facilitate Global Business and Investment

Seychelles is a good jurisdiction for offshore company formation as it provides benefits like minimum to zero taxation on capital gains and profits, confidentiality, corporate flexibility, and protection. Once you have successfully registered your offshore company, you will need to consider opening an offshore bank account in Seychelles too. This bank account can be critical to facilitating your global business or investments. You can open a bank account in Seychelles even without being physically present as long as you work with the right service provider who can represent you.

 

 

There are many benefits of having a bank account for your offshore company in Seychelles. The high level of confidentiality protects your privacy and deters potential financial enemies from attempting to attack your assets. Banks offer a good selection of payment solutions, complete with convenient banking options, too, payment cards and internet banking. Minimum balance requirements are low, and reputable services provider can often handle the account application with a requirement for you to visit.

 

An established Seychelles offshore company formation service provider can help you open a bank account, too, as long as they are regulated and licensed by the Financial Services Authority and are deemed reputable by the bank. They can help with the management of activities related to treasury and offshore banking, too. Likewise, they can customize their services to your unique requirements. This way, your bank account in Seychelles can keep up with your expanding business or investment and changing requirements as necessary.