Foundation or trust

[topshore]

Hello,I am interested in knowing which country you recommend for opening a foundation or trust. The trust will be receiving investments and will later establish a subsidiary within the EU.

I am looking for a reputable, economically stable country, similar to Switzerland. However, Switzerland is currently too expensive for my financial goals. Ideally, it should be within the EU and recognized as a reputable jurisdiction. My budget is 2,000 EUR.

 

[Sols]

At that budget, and assuming you want to avoid places that are completely irreputable (Seychelles, Belize), you might be able to get a trust set up in Isle of Man or Gibraltar. But you'll have to shop around a lot to get pricing that low.

I would also seriously reconsider if, armed with a budget of 2,000 EUR, setting up a trust or foundation really is the right choice at this point in time. Formation of a trust or foundation is just the beginning of the costs.

 

[myhand]

Check with Cyprus, there are Cyprus experts onboard at OCT that can help you.

 

[CyprusLaw]

Check with Cyprus, there are Cyprus experts onboard at OCT that can help you.

Cyprus is a great choice for forming a trust, however, I do agree with Sols, taking into account the budget it is important to consider whether a trust is the right option.

With respect to Cyprus the cost of forming a trust, which includes preparation of the trust deed, stamping, registration and for a provider to act as trustee, will be significantly higher than the budget you have indicated.

 

[Ancova]

I would suggest Guernsey in this case

 

[Don]

Hello,I am interested in knowing which country you recommend for opening a foundation or trust. The trust will be receiving investments and will later establish a subsidiary within the EU.

I am looking for a reputable, economically stable country, similar to Switzerland. However, Switzerland is currently too expensive for my financial goals. Ideally, it should be within the EU and recognized as a reputable jurisdiction. My budget is 2,000 EUR.

I believe your only options are Ireland and Cyprus; as far as I know, they are the only jurisdictions with common law. Other EU jurisdictions should all have civil law, so trusts are not available.

Why do you think that it's a good idea to set up a trust anyway?

I suspect it has to do with some tax/financial planning. Perhaps you can enlighten us a bit. As mentioned before it might not be the most economical choice.

 

[Onassis]

Other EU jurisdictions should all have civil law, so trusts are not available.

Not necessarily: The Hungarian trust | STEP, Madeira trusts

But anyway, I think you guys are all kind of neglecting the title - foundation or trust. @topshore Which country are you a resident of? Who will be the beneficiaries and what is their tax residence? What kind of investments is the trust/foundation going to be receiving and which EU country are you planning to set up a subsidiary (underlying company) in?

Why do you think that it's a good idea to set up a trust anyway?

I suspect it has to do with some tax/financial planning. Perhaps you can enlighten us a bit. As mentioned before it might not be the most economical choice.

This

 

[jkl197]

1) did you look into Dutch private foundations?
2) what about a trust based on Liechtenstein law but with Trustee in Luxembourg?
both the above will cost more than 2000 eur but may be worth?

 

[Mister Sir]

I'm not into trust or foundations because of a variety of costly annual fees which are very annoying........ Even some UK Banks are steering away from them especially trusts because they are becoming more and more complicated with compliance issues.... But if you feel compelled to have one or the other I would look into an "Anstalt" in Liechtenstein which is kind of like a hybrid of both you requested.... But I doubt it's cheap..... But it's an option in "Europe"... And like Switzerland ....Liechtenstein is the only other country that uses Swiss francs.. Btw some people just use a "work around" with LLCs ++ but you need to talk to an expert fiduciary attorney about that and it's very convoluted and layered. Make sure you have a legit lawyer that has your financial interest at heart and not theirs.... Sometimes it gets ridiculous where you have to hire a lawyer to watch another lawyer lol