Eternity Law International — News — Secure a Trust License in the Comoros

Secure a Trust License in the Comoros

Published:
July 5, 2024

Trust companies carry out the activities of managing and storing assets, performing their administration and distribution. Any owner of financial assets or real estate can take advantage of placing everything he owns under the management of a trust as one of the main tools for obtaining asset protection. To carry out such activities, it is necessary to obtain a permit such as a trust license Comoros. Below we will look at the main stages and nuances of the licensing process and the advantages of this particular jurisdiction for trust business.

Our firm provides comprehensive Comoros trust services. We will fully support you in establishing a trust and obtaining permission to operate, taking on all the difficulties ourselves. We also have an extensive inventory of ready-made trusts for sale in hundreds of jurisdictions.

Obtain trust license Comoros: opening, general licensing procedure and further operation

A trust is an organization whose services a person can use to place financial assets and real estate. The organization that takes over property or any assets is entrusted with its protection, management and final distribution of assets in favor of those entitled to receive benefits and income. Cooperation between the trust and the client, as well as the management of the transferred assets, is carried out on the basis of an agreement that outlines the main goals and needs of the trustor.

A person who transfers his or her assets, and therefore transfers legal temporary ownership to the trust, can either be the future executor of the assets or designate them to be transferred to another person. In particular, trusts are also often used to protect and hold financial assets or property rights until they are passed on to inheritance. As agreed with the client, the trust firm representative should prepare an agreement with instructions on how to distribute the benefits of the assets.

Under Comoros trust law, the asset manager is required to ensure that the trustor’s wishes are carried out and his/her interests are protected. The owner of the assets may also designate any other persons who will receive the benefits resulting from the implementation of the assets in the commercial project. Among other things, a trust is one of the main tools in asset protection planning, used for various purposes, which are divided into four main categories.

  1. Tax planning. A trust is commonly used as a tax planning tool.
  2. Inheritance of financial assets or property. Being in a trust, the heir can receive the bequest without having to go through the procedure of accepting the inheritance.
  3. A trust can provide absolute protection of assets from risk from creditors.

Our specialists will provide you with comprehensive advisory and practical assistance in registering and licensing a trust in Comoros. We also have an extensive list of ready-made trust companies licensed in Hong Kong, Cyprus, Germany, Dominica and other countries.

So, how to get trust license in Comoros? The general procedure is quite simple, however, it requires compliance with certain standards and norms.

  1. As part of the trust license requirements Comoros, a firm must demonstrate financial strength, contribute a certain share capital, draw up a realistic business plan and undergo due diligence.
  2. The organization is required to appoint at least one director who has qualifications or experience in the financial sector. The director or directors must liaise with the regulator and ensure that the company complies with the rules established in the Comoros Islands. All licensed businesses must comply with anti-money trafficking regulations.

Trust license fees Comoros required to be paid range from 2.5-3 thousand euros.

The general licensing procedure is as follows.

  1. Establishing a local company, hiring staff and opening a corporate account.
  2. Filling out an application for a trust license in Comoros and paying the registration fee.
  3. Preparation of necessary documents.
  4. Submitting trust license application Comoros to the regulator.

The list of documents includes the following.

  1. Original application form.
  2. Notarized copies of passports for all persons.
  3. A current bank statement, which should reflect the current financial condition of the company.
  4. Confirmation of the company office address.
  5. Business-plan

Our lawyers are ready to accompany you at every stage of this procedure.

Advantages of the Comoros for trust business

The Comoros Islands are ideal for initial investment in a trust business due to its robust business environment, low cost of living and remote location. Comoros is an island nation in the Indian Ocean, off the east coast of Africa. Its geographical location, political stability and financial security make it an attractive location for international trust activities.

  1. Optimization of trust services. Clients have access to a wider range of services tailored to their financial goals and strategies.
  2. Privacy and Security. The Comoros financial sector is committed to protecting the privacy and security of clients and their assets.
  3. Cross-border diversification. Clients can make international asset transfers, reducing exposure to geopolitical risks and investments.
  4. Favorable legal environment. Comoros has a business-friendly legal framework that protects privacy and actively promotes international financial services to attract investors.
  5. Savings on registration and licensing costs. The fees for registering a company and obtaining a license in Comoros are relatively low, making it an affordable option for starting a trust business in the region.
  6. In addition, offshore companies in Comoros are not subject to corporation tax or capital gains tax, as they are only taxed on income earned domestically and not overseas.

Our company offers professional trust services Comoros. We have many years of experience in this field, which makes us the best. Trust license cost Comoros varies in each individual case and is calculated individually for clients. We can also offer assistance in opening a trust in Luxembourg, France, Belgium, Denmark and other countries. Contact us right now.

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