One of the most successful ways to rescue your acquisitions is to create trust-corp. With offshore trusts, their trustee is increased several times over. In such a case, you will not only secure the possible alienation of your assets, but you can also get certain tax benefits. Therefore, the demand for opening trust companies has recently increased dramatically.
Those wishing to create such a legal entity should decide on the country where such a company will be registered. The countries of Oceania are quite a good option. For example, it is not difficult to create offshore trust in Cook Islands. Here are very loyal laws for this area, because the provision of financial-services is the second most important article of revenue in the local budget after tourism. Therefore, local trust companies are considered to be one of the best tools to safeguard your acquisitions.
Opening a trust company in the Cook Islands is primarily to protect your acquisitions from possible encroachment by creditors and in case of injunctions. The authorities of this small country were among the first in the world to think of legislative mechanisms in this direction.
The first legislation for this area dates back to 1984. The law is still in force today but has been amended in several ways, including the addition of more freedom for residents and other provisions to bring local legislation in line with international norms.
In proliferation to the basic law on the operation of transnational trust-companies, the Islands have also enacted legislation on:
As you can see, from the legal point of view, trust companies in this country are better protected than anywhere else in the world.
Incorporation of a trust-company in Cook Islands has some very nice godsends over registering in other states. For example:
These godsends show that owners of such legal entities should consider the Cook Islands as a place of incorporation when arranging a trust.
Registering a trust in the Cook Islands is very quick. However, it may involve several steps. The first step is to select trustees, identify them and delegate their roles. To do this, you need to determine the type of trust-company, the number of legatees, and who will be the beneficiary.
After that, it is essential to properly collect and submit to the local-authority the documents for the registration of the trust company. Specifically, you need to provide the following documentation:
In individual cases, supervisory authorities may request additional documentation. If all the documents provided are correct, the trust company will be open.
The opening of such a company should not be attempted on its own. This is the worst decision for the creator of an offshore trust. This is a serious business and it is better to turn to companies that will help you simplify the process.
Our specialists have extensive experience working with the leads of these isles. We understand their requirements and will help you to properly prepare draft documents for quick registration and start functioning of the trust-company in this region. You will realize that you contain not made a mistake in choosing a consulting company.
The international company Eternity Law International provides professional services in the field of international consulting, auditing services, legal and tax services.