Turks and Caicos Offshore Trusts

A trust is often formed:

(a) to mitigate the effects of burdensome laws and regulations,

(b) to avoid exchange controls.

(c) to defer and minimize taxes

(d) for international estate planning

(e) so the settlor is enabled to have their assets protected and administered in accordance with his/her wihes both up to and after his/her death.

A Turks and Caicos Trust may be established either by Deed of Settlement in which the Settlor is identified or by Deed of Declaration of Trust, in which the trustees acknowlege their appointment and receipt of the settled sum with the settlor remaining anonymous. Asset transferred to a Turks and Caicos trust should be unencumbered assets from the net estate of the settlor.

The Trusts Ordinance provides for the protection of assets transferred to a Turks and Caicos Islands trust from claims based on the right of heirship exisitng under foreign laws.

The above information was taken from an article written by Keith D Burant, managing director of Meridian Trust Company here in the Turks and Caicos and attorney Mr Paul Dempsey. both recommended by Peter Crawford Smith.

It is essential that any and all information be checked with authorized and liscenced professionals that can advise the best way to go about forming a trust or company here in the Islands as this web page information is only partial and only gives a very basic idea of the use of Trusts.