Trust
The trust - a perfect instrument for asset protection.
The term "trust" is widely known and used, however there are often many misunderstandings as to what a trust actually is. The correct definition of a trust is an agreement or contract. It is not, as many believe a special type of company. It is purely an agreement -albeit a very special one, between three parties:
Settlor
The Settlor is the transferor of the assets into the trust. Any kind of asset can be transferred, funds, shares, cars, boats, real estate and even non entities such as patents or rights. Once the assets have been transferred into the trust this can not be revoked. Once the Settlor has transferred all the assets into the trust he can legally declare that he does not then own them. This is of special interest in cases of bankruptcy, divorce and inheritance or legal claims. trusts are one of the most preferred methods employed by US medics to protect their assets in case of malpractice claims being brought against them.
Trustee
The trustee is the official manager of the trust. Officially the trustee must be independent from the Settlor and has all rights and full control over the actual running of the trust. Obviously few people would wish to pass that amount of control over their assets to a third party so generally the trustee will always act unofficially on instruction from the Settlor. It is possible to draft a separate agreement between the Settlor and trustee ensuring the Settlor retains full control. In order to act as trustee over any trust, the trustee must hold a special license. WSR have the benefit of using the services of a long established and reputable trustee.
Beneficiary
As the name suggests, the Beneficiary is the person or persons who finally receive the assets from the trust. The Settlor can be a named Beneficiary. All entitlements to beneficiaries must be set at the commencement of the trust and can not be revoked or changed. Once the beneficiary has received the assets from the trust he is then liable to declare this and pay due taxation. The Beneficiary can receive regular payments from the trust, for example from the interest or can wait for the expiry of the trust and receive all assets and interest in full.
Advantages in forming a trust
 The Settlor can transfer any assets he has and legally declare he does not own them |
|
No assets that belong to the trust can be seized |
|
Potential inheritors can not make claims against the trust |
|
trusts are free from taxation |
Disadvantages in forming a trust
|
trusts can not engage in business but purely manage and protect the existing assets |
|
trusts have a maximum duration period of 99 years |
|
The Beneficiaries are liable for taxation upon payout of the assets |
|
Once a trustee has been selected it is almost impossible to replace him |
If these disadvantages mean a problem to you a foundation might be more suitable.
The registration of a trust is based on the following fees:
|
formation of a trust including: |
2.900,- Euro
|
name check
|
|
|
preparation of documents |
|
|
filing of documents |
|
|
payment of filing fees |
|
|
issuing trust certificate |
|
|
CD-rom with business forms and templates |
|
|
shipping |
|
| |
|
| |
|
| Fees trust |
2.900,- Euro
|
| |
|
| |
|
| |
|
|
|
| |
|
If you experience problems opening the order form,
please call customer support at .
|
| |
| |
|
You can add the following services to your trust:
|
| |
|
| |
|
| optional | additional services |
|
| |
|
|
premium binder with all certificates |
included
|
|
nominee service by providing a trustee |
490,- Euro
|
|
Information:
For the highest level of privacy protection we offer a lawyer as nominee trustee who issues a power of attorney for you. This ensures that your personal information is not submitted to any authority. Only lawyers are able to provide this level of protection. Watch out when comparing with other offers.
|
|
| |
|
| |
|
| |
|
| optional | virtual offices |
|
| |
|
|
standard virtual office at a reduced rate per year |
190,- Euro
|
|
professional virtual office at a reduced rate per year |
990,- Euro
|
|
Information:
Both virtual office services include a prestigious address with phone and fax numbers. The standard Edition will direct calls to an answer machine with your company greeting and recorded messages are then sent via Email. The professional Edition includes permanent live call forwarding to any number world wide.
|
|
| |
|
| |
|
| |
|
| optional | bank account |
|
| |
|
|
offshore Banking, Europe, Latvia |
290,- Euro
|
|
offshore Banking, Europe, Isle of Man |
290,- Euro
|
|
offshore Banking, Europe, Cyprus |
290,- Euro
|
|
offshore Banking, St. Kitts |
290,- Euro
|
|
offshore Banking, Seychelles |
290,- Euro
|
|
Information:
Our account opening service offshore Banking offers feature rich business checking accounts. The accounts offer multi currency service, phone banking, internet banking, cheques, ATM- and credit cards. There is no check on your credit history. Offshore banks offer the highest level of privacy protection and are tax free.
|
|
| |
|
| |
|
| |
|
| optional | add-ons |
|
| |
|
|
creation of a company logo |
49,- Euro
|
|
company rubber stamp |
49,- Euro
|
|
company seal |
49,- Euro
|
|
company name plate |
49,- Euro
|
| |
|
| |
|
| Recurring fees from 2nd year on |
|
| |
|
|
renewal |
1.900,- Euro
|
|
incl. maintenance |
|
|
incl. registered office |
|
|
incl. registered agent |
|
|
incl. offshore flat tax |
|
You have further questions?
Our consultants will be pleased to assist you!
Whitherspoon, Seymour & Robinson Corp.
Division United Kingdom
Customer Care Center
United Kingdom
Office hours: Monday to Friday (UK time)
9.00 am to 12.00 noon and 1.00 pm to 6.00 pm
Phone:
Fax:
For new enquiries please use the contactform or .
Existing clients can best reach us through the online support.
|
