A UK trust: an EU fiduciary solution
It is now common practice to set up trusts in tax havens. However, not many clients are aware of the benefits UK based trusts can bring. The idea of a UK trust is particularly attractive when beneficiaries and settlors are based in Europe or other onshore countries and do not want the transfer of property to be associated with tax havens. In addition, English law (under which the trusts are formed) gives the confidence and security of the UK legal system. A UK incorporated trust offers its owners reliability and reputation.
The primary trustee of a trust established under England and Wales law must be a person or legal entity resident in the UK. In most cases the trustee will be a professional and licensed UK fiduciary service provider. Contact Confidus now to build your trust.
UK trusts are generally set up to achieve a specific purpose (some examples are given below). For simple cases where assets are to be distributed to beneficiaries after the trustor's death, a UK trust is not the best solution as such a simple task is better handled in other well-known trust jurisdictions (see Panama Private Foundation for Asset Protection ). A UK trust can be used for the following purposes:
Accumulation of a diverse portfolio of foreign assets into one system for more organized, consistent and professional management. This solution also minimizes your inheritance tax burden and avoids unnecessary inheritance taxes and claims. As a tax-exempt holding structure. A trust serves as a good holding vehicle especially for customers with several companies in different countries and offers a tax-free and confidential holding structure. Reducing the burden of exchange control regulations and minimizing the burden of inheritance taxes and other types of wealth taxation at your place of residence, as well as removing the link or attachment between property and the place of residence of the heirs. Ensure the confidentiality of ownership of the assets. Throughout the UK, there is no need to make a trust's legal documents publicly available. This ensures anonymity and confidentiality for the settlor and the beneficiaries. Avoiding the forced inheritance rules that your country may apply to your assets. Guarantee of the settler's future plans in the event of death or incapacity for work.