Asset Protection Trusts

Offshore-Banking-Singapore offers you top of the line, bullet proof protection from financial predators. In today's litigious world, one law suit can wipe out your life savings. Instead of leaving a legacy for your loved ones, you can be left holding an empty bag!

There is no need to spend tens of thousands of pounds, euros or dollars to protect your assets. We offer a bullet proof Asset Protect Trust at rock bottom prices for you.

Mauritian Trusts

A Trust comes into existence when an individual or a legal entity ( settlor ) gratuitously transfers the legal ownership of assets ( trust property ) to another person or persons ( trustees ) to hold for the benefit of other person(s) termed as the beneficiaries or for a specific purpose. The trustees have an equitable obligation, which bind them to hold and deal with the trust property in accordance with the terms of the trust. Confidentiality is ensured through the absence of non­disclosure requirements as regards the settlor or beneficiary.

The Mauritian Trust provides a legitimate means to protect one’s assets against personal liability, high taxes, exchange controls or risk of confiscation.
Trusts in Mauritius are governed by the Trusts Act 2001, which allows for life interest /contingent interest trust, protective or discretionary trust, charitable trust, purpose or trading trust or foreign trust.

The key features of a Mauritian Trust are :

1. Choice of proper law by the settlor.
2. Possibility for the settlor to leave on his death letters of wishes setting out how he/she would wish the trust to be administered
3. Anti­forced heirship rules
4. Recognition of Purpose Trusts
5. Duration of other Trusts limited to 99 years or less (except for a non­charitable purpose trust which shall limit its duration to a term not exceeding 25 years)
6. Possibility to accumulate income for any period during the duration of the trust
7. No perpetuity rules for Charitable Trusts
8. Trust instrument may contain power to vary terms of trust
9. No disclosure of the trustees’ deliberations, the name of the settlors and the beneficiaries unless the latter is a Mauritian resident or a body corporate resident in Mauritius
10. Trusts not being void or voidable due to the insolvency of settlor or proceedings against him or latter being declared bankrupt. However, such trust may be void if the creditors prove beyond reasonable doubt that the intention of the settlor at the time of creating the trust was to defraud him. The onus of proof rests on the creditor and no request for setting aside the trust will be entertained after more than 2 years from the transfer or disposal to the trust.
11. Trust can apply for a Global Business Licence –Category 1 and benefit from double taxation treaties.

A Trust created in Mauritius allows for, inter alia;

1. Restrictions /controls over the enjoyment of property
2. Multiple enjoyment
3. The holding, protecting and controlling of family property
4. Asset protection
5. Commercial transactions
6. Overseas ownership of property while retaining beneficial enjoyment
7. Strict confidentiality of the identity of the settlor, the beneficiaries and information relating to trust affairs

Structures involving a Mauritius Trust are usually as follows:

Taxation
A Mauritian Trust where:
(1) the settlor is non¬resident or holds a category 1 or category 2 Global Business Licence; and
(2) all the beneficiaries are throughout an income year non¬residents or hold a category 1 Global Business Licence or a category 2 Global Business Licence;or
(3) it is a purpose trust and whose purpose is carried outside Mauritius ,shall be liable to income tax on its chargeable income at 15% . However, the above Trust can elect to be non¬resident by the Trustee filing a declaration to that effect with the Commissioner of Income Tax and be exempted from income tax . All distributions made to non¬resident beneficiaries of the Trust are also exempt from income tax.

The cost of a Mauritius (MU) Trust fee is US$ 2000 [plus a onetime set up fee of US$1,250] and includes Trust formation, Trustee fees and registration fee of all documents with the local authority for the first year.

Annual renewal fees for your trust as of this writing are US$ 1200. Courier charges and any documents that you require to be legalized and apostille will be charged at a nominal rate and separately (we will revert with fee schedule pending your requirements.)

In the event you require a Mauritius GBC2 Company authorized by the financial services Commission to act as your trustee, GBC 2 companies are entirely separate and fees additional. PROFESSIONAL FEES FOR MAURITIUS COMPANIES (GBC 2)

These are the professional fees applicable to all Mauritius companies (GBC 2) formation orders.

• 1ST YEAR Incorporation Fee US$ 1,350
• Preparation and filing of all necessary paperwork to register the company.
• Provision of Registered Office and Agent in Mauritius.
• Provision of Initial Subscriber, obtaining Certificate of Incorporation. The documents will include Certificate of Incorporation, Memorandum of Association, and Articles of Association Resolution for appointment of Director, allocation of shares, Share Certificate(s), transfer Forms.
• Registration fee payable to the Registrar of Companies.
• TOTAL US$ 1,350
• COURIER (depending on destination) US$ 90-125
• ANNUAL Renewal Fee: - Provision of Registered Agent and office facilities in Mauritius - Registration fee Payable to the Registrar of Companies. TOTAL US$ 750

Should you have any questions regarding a trust, please do not hesitate to CONTACT US.

Thank you for your interest in our Offshore Asset Protection Trust

Bob Williams
Offshore-Banking-Singapore.com

Order Here Your ordering code is "MUTrust."