Vistra has become the first fiduciary provider in Curacao to establish a new trust structure based on the Anglo Saxon concept.
Vistra says it has worked closely with local notaries in setting up the trust. Trusts based on the Anglo-Saxon model have been possible in Curacao since a change in legislation earlier this year. Developments in Curacao are overseen by Gerard Jan van Spall who is expecting a high level of interest in the new trust structure.
These new trusts offer a wide range of options for flexible structuring and, providing the business of the trust is not within Curacao itself, are exempt from tax on profits earned locally.
If required, the trust can elect to be subject to profit tax at a fixed rate of 10%, which Vistra explains can offer significant international tax planning benefits. It’s important that all trusts must be set up via a notarial deed and, at all times, there should be at least one local trustee appointed, says Vistra.
Vistra has a presence in 18 jurisdication including Jersey, Cyprus, Malta, Singapore, Geneva and Hong Kong.
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