Seychelles International Trusts are popular due to several attractive features which they offer.
The Trusts are regulated by the Seychelles International Trust Act 1994 which provides reliable legal protection, confidentiality and tax exemptions.
What Is A Trust?
In common law legal systems, a trust is a private legal arrangement or relationship whereby property (real, tangible and intangible) is managed by a trustee (corporate or individual) for the benefit of another or for specified purposes. For further details read our previous blog post on trusts.
- Asset Protection and Preservation;
- Tax Minimisation;
- Succession & Relationship Planning;
- Privacy Offshore;
- Forced heirship;
- Confidentiality; and
- International Trusts Specific Asset Protection / Trust defence provisions.
- The Settlor must not be a resident of the Seychelles.
- The Trustee must be Seychelles resident and hold a valid trustee services licence issued by the Seychelles International Business Authority (SIBA).
- The Beneficiaries must be identifiable and the Settlor may be a Beneficiary providing that they are not the sole beneficiary.
- The Trust can hold any assets with the exception being property situated in the Seychelles.
- The Trustee must make a declaration to the Government Registry, declaring that the Settlor of the Trust is not a Seychelles resident; that the Trust property does not include any land in the Seychelles; and informing the name and date of establishment of the Trust.
- The Trust Deed is not publically filed with the Authorities and consequently the identity of the Settlor and Beneficiaries remains undisclosed.
- The Trust is not required to file financial statements. However it must maintain and keep proper accounting records.
The trust and all parties relevant to the establishment and management of a Seychelles trust are closely regulated due to the well established trust law in the Seychelles.
Seychelles International Trusts give the Settlor greater confidence and offer several principal benefits.
As a result Seychelles International Trusts are increasingly selected for both personal and business asset protection purposes.
To learn more about Seychelles Trusts, download our whitepaper.