Protect Your Wealth
Protect Your Wealth
A Trust is a legal relationship through which the owner (called Settlor) of certain assets transfers these assets to an independent third party (called Trustee). The Trustee, in turn, is legally bound to maintain and manage these assets for the benefit of another person or group of persons (called Beneficiaries).
How can an international trust be used?
A trust can be used for many purposes based on individual’s requirement model. It can be used for;
Inheritance and succession planning
Can be part of business company structure
In Seychelles, International Trust is regulated by the Seychelles International Trust Act, 1994. Seychelles Trust is not a separate legal entity and hence cannot be sued in its own name. The Act provides for the following types of Trusts:
Charitable International Trusts
Purpose International Trusts
These are referred to in the Act and include commercial (trading) trusts, life insurance trusts, cash deposit trusts and trusts resulting from acts of the Court.
KEY FEATURES SEYCHELLES INTERNATIONAL TRUSTS
|Trust deed||Not filed with the authorities|
|Names available to public||No|
|Period of Trusts in Seychelles||100 years|
|Charitable trust||Can be formed for perpetuity|
|Change of Proper Law||Permitted|
|Restrictions on Trust/Trade||
|Filing with Seychelles FSA (Financial Services Authority)||Not required|
|Trust register accessible to public||No|
|Disclosure of names of settlor or beneficiaries to regulator||Under court orders only|
|Minimum initial assets required||USD 1|
|Filing of the tax statements||Yes|
|Annual audit requirements||Not required|
|Filing of accounts||Not required|
|Public access to records||No|
Seychelles International Trusts can include alternate Trade varieties tailored to address client specific needs. Abacus Seychelles has years of experience and expertise in meeting the individual needs of our clients worldwide. To find out more about how Seychelles Trust can help you in asset protection and wealth maximization, please get in touch with us. We would be happy to help!