Majority of onshore and offshore trusts and foundations are used for various private purposes such as family estate planning, wealth management, asset protection and administration of charitable donations. Trusts and foundations have been used also for international tax planning and corporate functions, for example, to isolate the funding of an employee pension plans from the attachable assets of a business or to hold company shares with the specific intention of retaining control over a company.
Although many jurisdictions have moved toward greater levels of transparency in the arena of government access to information on legal entities like corporations and limited liability companies, trusts and foundations have often been carved out from new disclosure requirements thus enabling the legal arrangement to keep significant level of privacy. Many jurisdictions maintain strict confidentiality laws that prohibit the disclosure of any information regarding trusts and foundations.
FARCOVE law understands the recent global trend towards greater transparency. At the same time, there is a need to maintain client's legitimate privacy interests. We are able to help find the right balance. Our network of trust attorneys handle complex trust issues, regularly advising on laws and regulations of major offshore trust jurisdictions. They work with trustees and private clients covering most of the major markets in Asia Pacific and Europe. Their knowledge of business trusts adds range and flexibility to their private trusts advice and vice versa.
FARCOVE law will be able to serve the need for specialist advice on the formation of trust funds, discretionary trusts, asset protection trusts, charities, foundations and family offices. We can also help set up unit trusts, exchange-traded funds, investment trusts, real estate investment trusts, alternative investment trusts, business trusts and escrow arrangements, as well as handle requirements for estate planning and succession planning.