| Offshore Trusts |
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Transferring assets using offshore trusts is an effective way to reduce your tax liability, whether this is for tax planning or inheritance purposes. When you are looking for a country where you can set up an offshore trust, it is important that you check the legislation relating to creditor protection. For example, in 1990 Gibraltar introduced a law improving protection and facilitating new types of trusts. Gibraltar also has a strong tradition of enforcing offshore trusts. This, along with the zero tax rate and the strategic location, makes Gibraltar highly popular. While some countries have passed laws that make it more difficult to set up a trust to save on tax, this goal is still achievable through careful tax planning. The directors at Keylink Consultancy would be happy to discuss any questions you have relating to offshore trusts. Types of trustsIt is possible to transfer shares in your company into offshore trusts. The various types of trust to consider include:• Asset Protection Trusts. • Employee Benefits Trusts. • Retirement Benefit Trusts. These can be used to avoid taxes on assets, such as capital gains tax and inheritance taxes. An asset protection trust helps to ensure your wealth is safeguarded from any crises. An employee benefit trust will reduce the tax liability of any contractors working for your corporation, while a retirement benefit trust is set up to help employees after they retire. Whatever type of trust is most relevant to you depends very much on your business. Keylink Consultancy can help you with offshore company formation, as well as streamlining the process of setting up any offshore trusts. |