Trust and Foundation

INTERSHORES I A Nevis Trust - A Trust You Can Manage Your Own Assets Hassle Free

What Added Asset Protection Does a Nevis International Exempt Trust Offer?

Typically, a Settlor looks for a safe and stable jurisdiction to maintain their assets and seek to protect the Trust Property from future litigants, who may attack the Trust in the hope of setting it aside in order to have access to the Trust Fund.   An attempt to attack a Trust could come from an array of complainants such as; a disgruntled Beneficiary, a divorcing spouse or a future creditor.

 

In the case of a Nevis International Exempt Trust, the Law states that:

  • A creditor must first pay a bond of US$100,000 to the Minister of Finance in Nevis, before brining any action or proceeding against a Trust and before the Court will consider it.
  • The burden of proof is placed completely on the complianant who must establish their claim "beyond reasonable doubt."
  • No action or proceeding to set aside the settlement or by any person claiming to have had an interest in assets before they were settled in a Trust will be entertained by the Court if the action or proceeding commences two (2) years after the settlement of the Trust or the settlement of the property.

 

These unique aspects of the Nevis Trust legislation combined with ensuring that the goals and intentions of the Trust are properly discussed with the Trustee at the outset and that the Deed is properly drafted on establishment, will provide the Trust with a high level of protection against any potential attack and produce a robust asset protection structure to suit the Settlor's needs.

 

NEVIS TRUST CRITERIA - Exempt from Nevis taxation and exchange regulations

  • At least one of the trustees is either a licensed Nevis trust company or a Nevis IBC (not LLC) commonly called a PTC (Private Trust Company) .
  • Settlor and Beneficiaries are NOT residents of Nevis.
  • Any real estate in the trust is NOT located in the island Federation of St. Christopher and Nevis.

 

BASIC NEVIS TRUST STRUCTURE

  • Settlor - person that commissions the trust and contributes original money and/or assets. The settlor of the Trust can also be a beneficiary.
  • Trustees – Nevis based person or Private Trust Company (PTC), which administrates the trust assets for the beneficiaries. A trustee who perpetrates or consents a breach of trust is liable for all losses or depreciation of the trust assets and profits, which would have accrued to the trust, had there been no breach.
  • Beneficiaries – Client/Family or organizations that benefit from trust assets and profits.
  • Protector (optional) – entity with power to remove and appoint new or additional trustees in order to safeguard the trust beneficiaries and purpose.
  • Assets – can be held by the trust either directly or through additional corporations (IBC's or LLC's).

 

A usual structure with client's control over the trust by a Trust Company is as follows:

 

Self Photos / Files - IFS Nevis Trust Graphical(standard)_page-0001

If you want to protection by a trust without lossing the control via a trustee, please do not hesitate to contact us for set up a  Nevis trust.

 

Whatsapp : (852) 6499 4686

Phone : (852) 2186 6936

Email : info@intershores.hk

 

 

Disclaimer:

Whilst reasonable care has been taken in provision of information above, it does not constitute legal or other professional advice. INTERSHORES does not accept any responsibility, legal or otherwise, for any error omission and accepts no responsibility for any financial or other loss or damage that may result from its use.  In particular, readers are advised to take appropriate professional advice before committing themselves to any involvement in jurisdictions, vehicles or practice.

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