Irrevocable Trust
- Once established, the Settlor cannot alter or revoke the trust.
- Provides the highest level of asset protection.
- Ideal for long-term wealth preservation and tax planning.
What is a Trust in Nevis?
A trust is a structure in which property previously owned by you, as the founder (Settlor) of this trust, is transferred to the control of a third party (Trustee), who manages the property in the interests of specific individuals (beneficiaries). In this case, the trustee manages the property according to the conditions that you established earlier. In simple terms, the settlor transfers the property to the trustee, who acts in the interests of the beneficiaries, for example, the settlor’s children.
Key Features of a Trust in Nevis
Tax Efficiency
Nevis trusts are tax-neutral, meaning no income, inheritance, or capital gains taxes are levied on assets held in the trust.
Privacy
No public registry , meaning your financial information remains confidential.
Legal Stability
Based on English Common Law, Nevis trusts offer a robust and internationally respected legal framework.
Generational Wealth
Trusts in Nevis can last indefinitely, protecting your savings and securing financial stability for future generations.
Asset Protection
Your assets are shielded from creditors, lawsuits, and unforeseen liabilities.
Tax Efficiency
Nevis trusts are tax-neutral, meaning no income, inheritance, or capital gains taxes are levied on assets held in the trust.
Privacy
No public registry exists, meaning your financial information remains confidential.
Legal Stability
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Generational Wealth
rusts in Nevis can last indefinitely, securing financial stability for future generations.
Asset Protection
Your assets are shielded from creditors, lawsuits, and unforeseen liabilities.
Types of Trusts Available
The Benefits of Choosing Nevis
Establishing a Trust in Nevis is Simple
How It Works Step-by-Step Process
I
Consult
Speak with our expert advisors to identify your unique needs and goals.
II
Design
Create a customized trust that aligns with your financial objectives and family requirements.
III
Secure
Transfer your assets to the trust, ensuring full legal protection under Nevis law.
Stages
How we are working
Trust structure
Now let's look at the structure of the trust, its participants, and their corresponding rights and responsibilities. For the regular functioning of the trust, the participation of three main parties is necessary.
The Settlor
The settlor establishes the trust and transfers his/her assets to it. After the creation of the trust, the Settlor completely loses control over it.
The Trustee
The trustee owns and manages the trust assets in the interests of the Beneficiary or to achieve a specific goal. The Trustee has no right to receive direct benefits from the trust assets. Individuals and specialized private or public companies can act as Trustees.
The Beneficiary
The beneficiary has the right to receive benefits from the trust assets, and if certain conditions are met, the assets themselves. There may be several beneficiaries in the trust, and each of them can demand that the Trustee properly fulfills the duties of managing the trust. Please also note that when creating a charitable trust, there may not be beneficiaries, but a charitable trust has specific purposes and is usually created by nonprofit organizations to receive donations. To best ensure that the interests of the Beneficiary are met, you may wish to involve a 4th party, namely the Protector.
Trust Q&A
WHAT ARE THE DIFFERENCES BETWEEN A TRUST AND A COMPANY?
A trust and a company serve different purposes and have distinct structures. A trust is a fiduciary relationship where a trustee holds assets for the benefit of designated beneficiaries, typically used for asset protection and estate planning. In contrast, a company is a legal entity in its own right, created for business purposes with shareholders as owners and directors who manage its operations to generate profit. While trusts emphasize asset protection and privacy, companies focus on business activities and profit generation, with ownership represented by shares that can be transferred or sold.
CAN THE TRUST HAVE BANK ACCOUNTS?
Yes, a trust can have bank accounts. The account is held in the name of the trust, not the trustee personally, and the trustee manages it according to the trust’s terms to benefit the beneficiaries. This account can be used for holding, managing, and distributing trust funds, such as income generated by trust assets or any contributions made to the trust.
DOES NEVIS TRUST PAY TAXES?
Nevis trust is generally not subject to taxes in Nevis, as the jurisdiction offers a tax-neutral environment for trusts. Nevis does not impose income, capital gains, inheritance, or estate taxes on trusts that hold assets outside of the island.
DOES THE TRUST HAVE ACCOUNTING REQUIREMENTS?
The trustee does not need to file tax returns, but must maintain accounting records. Trust deeds are in general private and confidential. It is important to have an accountant specialized in preparing accounts to put your raw data into proper form so the information records can be held in Nevis. We can provide the accounting services to your trust as part of our trust packages. Our accounts can be accessed via Xero accounting system that makes data entry simple and direct.
HOW LONG DO I WANT THE TRUST TO LAST?
It can be established in perpetuity or for any period of your preference.
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Contact Us
Thanks to our tight connections with experts, agents, and advisors in different jurisdictions, our team of experts can guide you through every step of the process. Feel free to reach out with any questions and learn how we can assist you in fulfilling your objectives.
Contact Info
PH Torre Global, Floor 31, Office 3101, Street 50, Panama City, Panama
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