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The most common forms of trusts are settled trusts which can be either:
Discretionary trusts, the trust deed permitting the trustees to exercise discretion in making distributions to beneficiaries.
Interest in possession trusts, where the beneficiary has an absolute entitlement to the income of the settlement.
The form of trust to be used will depend upon individual circumstances. The services of local trust companies operated by firms of accountants, banks and advocates in the Islands and by independent trust companies are available. Further details regarding the establishment and operation of trusts are set out in chapter 10.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
For further information contact Jonathan G. Hooley on Tel (indirect line): + 44 (0) 1481 721000, Tel (direct line): +44 (0) 1481 719544, Fax: +44 (0) 1481 722373.
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Following the bailout package agreed between the so-called troika of the EU, European Central Bank and IMF on one hand and the Cyprus government on the other, the two largest banks in Cyprus will be merged and considerably downsized.
A discussion on the changes brought in by the Banks and Trust Companies Regulations, which introduced a light touch regulatory regime for private trust companies in The Bahamas.
In response to the shift from a principles to a rules-based regulatory approach and the increased use of enforcement actions by Irish regulators and similar bodies, we have developed a dynamic cross-disciplinary Regulatory and Administrative Sanctions Unit, made up of specialists operating in our financial services, litigation and regulatory and compliance teams.
Following the introduction of the bail-out package agreed between the European Union, the European Central Bank and the International Monetary Fund on the one hand and the Cyprus government on the other, the two largest banks in Cyprus will be merged and considerably downsized.
Confidentiality of corporate documents and information is one of
the key attractions of incorporating a company in the BVI. A
company search of the BVI Registrar of Corporate Affairs will only
disclose certain information and documents.
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