To understand what an offshore trust is, first you need to understand what an onshore trust is.
An onshore trust is basically an account. In this account, a settler places assets or property. Then the trustee holds onto this property for the beneficiaries of this trust. Onshore trusts can be heavily scrutinized and looked after; this is what makes an offshore trust so appealing.
An offshore trust refers to a trust that is located in a different place then where the settler resides. When assets or property is placed outside the locale of a person they easier for the settler to have it looked after. Offshore trusts have the distinct advantage of having different rules to follow. You want to be able to leave your family the things you want them to have and make sure they are doing what you want with them. Trusts are set up to do just that; respect your wishes.
If you have a specific amount of cash set aside for your grandchild’s college funds you may want to make sure they spend the money on college and not on something else. To do this, you would set up an offshore trust fund, naming them as beneficiaries at the time of their high school graduation. You would make sure the legal wording is iron clad so they could not pull a fast one on you. Trusts are all about protecting your assets and ensuring that your hard-earned resources accomplish the outcomes you desire.
Is your company interested in learning more about fund administration and what is involved in managing it? You have found the right place to start. At First Anguilla Trust we are pleased to offer fund administration as a service to our clients.
Fund administration generally covers a few areas of interest including: administration, accounting, custodial services, fund manager selection, and management. If you are in need of offshore management too, we can work with you on that as well.
Hedge fund administration also falls under the umbrella of administration services that we provide. If you are a new business looking to start up or a well-established business with years of credibility behind you we can begin your new hedge fund easily.
Some of the first steps to fund administration include:
· Calculation of the Net Assess Value including the income and expenses of the business.
· Maintaining the books
· Payment of fund expenses
· Monitoring investment compliance with SEC, Prospectus, or U.S Internal Revenue Code restrictions
By outsourcing your fund administration to us, First Anguilla Trust, we will take this burden off your plate and let you concentrate on other important aspects of running your business. You will receive regular updates on your funds just so you are aware of the progress we are making. At the end of the tax year we will produce a review for your taxes and books needed for accounting purposes.
To learn more about our fund administration services feel free to contact us by calling or emailing today!
The northernmost Leeward Island, Anguilla, is a patch of 35 miles in the Caribbean. Commonly called “Tranquility Wrapped in Blue,” Anguilla is an exclusive island and vacation destination; however it presents many investment and asset management opportunities as well.
The law is common jurisdiction, supplemented by a House of Assembly from the British Government. Businesses that have been incorporated in Anguilla are governed by the International Business Companies Act, which makes Anguilla a neutral tax area. This neutral tax zone means all companies that register benefit from the zero-tax advantage. This makes Anguilla an excellent location to form your offshore company, trust, foundation, or captive insurance company.
Here are some other compelling reasons to use one of Anguilla’s business structures:
- Stable Democratically Elected Government
- Proactive cutting-edge and pro-business legislation
- English speaking offshore jurisdiction
- Stable Economy
- Professional Guidance Provided by Experienced Lawyers and CPA’s
Best of all, the infrastructure of Anguilla is a well-developed one, allowing both individuals and companies access to real solutions and opportunities to achieve their aims.
Although Anguilla is the smallest of the islands, it had some of the highest growth rates in the 1980’s- this is due to such an emphasis on not only diversifying the tourist industry, but complementing it as well with its increase in offshore jurisdiction for discerning investors.
For more information on starting a business in Anguilla, contact First Anguilla Trust, and we can help with any questions or concerns you might have. There are a lot of questions involved with investing and creating businesses, so please, let us assist you!