Seychelles International Trust
A Trust is a private legal agreement (Trust Deed) between the individual who places his/her assets in the Trust (Settlor) and the individual or corporation entrusted with the protection, management, and ultimate distribution of the assets (Trustee) for the persons entitled to benefit from the capital assets and/or income held under the agreement (Beneficiaries). Such Asset might include Property, shares or cash.
The Seychelles Trusts are governed by the international Trust Act, 1994. To be able to register for a Seychelles Trust you will needs to see a licensed trustee in Seychelles. Trust have been used to protect the assets of its beneficiaries. The Seychelles International Trust law offers some of the greatest privacy and asset protection features of any International Offshore Financial Centre. The advantage of Seychelles Trust include Tax Exemption in Seychelles, low costs of trust formation and administration.
|Seychelles International Trust||Corporate Details|
|· Type of entity||International Trust|
|· Type of Law||Follow English law/As per Trust Deed|
|· Our time to establish a Trust||2 Weeks|
|· Taxation of trust assets||None|
|· Double Taxation Treaty access||No|
|· Change of Domicile permitted||Yes|
|· Duration||100 years (except: charitable international trust or a purpose international trust)|
|· Restriction on Investment of Trust asset||No|
|· Exchange control||None|
|· Succession||As per Trust Deed|
|· Settlor||Must be non-resident of Seychelles|
|· Trustee||At least one Trustee shall be a company licensed under the International Corporate Service Provide Act to provide international trustee services at all times. ( international act 1994)|
|· Property||No property situated in Seychelles can be part of the Trust asset|
|· Jurisdiction||Seychelles Supreme Court|
|· Forced heirship applicable||No|
|· Restriction on type/amount||No, except property situated in Seychelles|
|· Minimum number||1 if corporate and 2 or more if not corporate|
|· Qualification||Minimum one Seychellois resident|
|· Requirement to file||No|
|· Publicly accessible||No|
|Duty to keep accounting records||– A Trustee is required to keep proper accounting records of the trusteeship
– The accounting records shall be kept at the trustee’s principal place of business in Seychelles or such or place as the trustee thinks fits.
(International Trust act 1994)
– Accounting record shall not be deemed to be kept with respect to an international trust if they do not give a true and fair view on the state of the international trust’s affairs and explain its transactions.