INTERNATIONAL PRIVATE & BUSINESS  SERVICES

CHANCELLERY


Trusts & Foundations

OUR JURISDICTIONS

Trusts & Foundations


Our clients use both - trusts and foundations to hold assets and for succession planning in various favorable jurisdictions.
Trusts have their roots in the common law, while foundations have their origins in civil law.


Let us have a look at the fundamental differences and similarities of trusts and foundations.
Preston Brant Associates are specialists in assisting individuals with the structuring of their wealth.
We have expertise in the design, implementation and administration of trust and foundation structures.


There are a number of similarities between trusts and foundations, the principle ones are:

  • Assets can be transferred or donated to both 

  • Both can be revocable

  • Both can be created during the founder’s/settlor’s lifetime or on death

  • Both can be unlimited in duration

  • Both provide for the appointment of a Protector or Enforcer

  • A foundation can have the Founder as member of the Council, who can exercise control over the assets of the foundation. In a similar way, the settlor of a trust can retain certain powers such as to direct investments

  • Trusts and foundations are created, inter alia, for asset protection and succession planning.


However, there are some notable differences between a trust and foundation:

  • A foundation has an independent legal identity and holds assets in its own name. A trust does not have a separate legal identity from its trustees.

  • Trustees contract personally in their own name, whereas the council members of a foundation contract in the name of the foundation.

  • Members of the Foundation Council act on behalf of the foundation and do not assume personal obligations (unlike trustees).

  • The Foundation Charter is a public document, although the Articles remain private. Trust documents remain private.

  • Changing the jurisdiction of a trust is straightforward, whereas a foundation needs to be re-domiciled.

  • The powers of a Foundation Council are generally more limited than those of a trustee, who potentially has unlimited capacity (subject to the overriding requirement to act in the best interests of the beneficiaries).

  • A foundation does not require an owner so there is no need for succession planning.

International

The jurisdictions above are not comprehensive, we focus on a number of favorable destinations worldwide.

Switzerland

has always been a safe haven and a very stable environment for business. The Swiss reputation is unmatched in Europe.

Cyprus

offers a great Non Dom scheme in Europe and a new IP Box regime. It has become an international business hub with multiple benefits.

Malta

is a jurisdiction which offers an incredible range of smart and modern business possibilities and a friendly resience scheme.

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