Offshore Trusts and Structures

Mark Davies is a leading authority on the tax benefits of establishing offshore trust structures with over 20 years’ experience both onshore and offshore.

What is an offshore trust?

Trusts are an ancient construct of English law where the legal ownership and beneficial or equitable ownership of an asset or assets is split and held by different people. A trust or settlement is established by a “settlor” where the legal ownership of assets are passed to “trustees”, to be held on trust for the benefit of named persons, “beneficiaries”, who have the beneficial entitlement to the trust assets, or for the benefit of a specific purpose, for example a charitable intention. A settlor will normally sign a “trust deed” or “trust instrument”. This document will define the trustees’ powers and responsibilities.

Trusts are often defined as being “irrevocable” or “revocable”.  A revocable trust is where the settlor may require the trustees to return the trust assets to him or her on request. Generally, the UK tax advantages of a revocable trust are negligible in consequence.

An offshore trust is where the trustees, normally regulated professionals, are located offshore. Crown dependencies such as Guernsey, Jersey and the Isle of Man have had a professional trustee industry since the 1970s and have incorporated English trust law into their own legislation which they have developed further.

How can we help?

If you want to know more or would like us to help you establish an offshore trust please contact us here to arrange a consultation, terms and conditions apply.