Seychelles International Trusts are attractive alternatives to international trusts set up in other offshore jurisdictions. Seychelles International Trusts are regulated by Seychelles International Trusts Act, 1994.
KEY FEATURES
• An International Trust must have a licensed by SIBA Seychelles resident Trustee. Non-resident co-Trustee as well as a Protector may also be appointed;
• Settlor can be Beneficiary, but not a sole beneficiary;
• Settlor cannot at any time during the duration of the International trust be a resident of Seychelles;
• An International Trust can own property worldwide, but not in Seychelles.;
• Duration of an International Trust is up to 100 years unless terminated earlier;
• An International Trust can migrate;
• An International Trust can be administered from Seychelles or elsewhere
ADVANTAGES OF SEYCHELLES INTERNATIONAL TRUST
• No tax on the trust property;
• Confidentiality-there is no need to register the trust deed and no requirement to file with any Government Registry details of the Settlor or the Beneficiaries;
• Speed-the trust can be set up within a week or less;
• Low registration fees-a one off Governemnt fee of US $ 115;
• Investment of the trust property is not restricted in any way;
• Settlor can choose proper law of the trust;
• No forced heirship;
• Seychelles Court has exclusive jurisdiction;
• No exchange control regulations
• Stable economy and impartial judiciary;
• Comprehensive and modern legislations;
10 OF YOUR QUESTIONS ANSWERED
1. How is an International Trust registered?
A Licensed Trust Service Provider submits a Declaration of Trust to SIBA. SIBA gives a Reference number to the Declaration and then notifies the Trust Service Provider of the registration of the Declaration of Trust.
2. What is the registration fee?
A one-off payment of US $ 115, inclusive of government tax.
3. What is the Tax Treatment of International Trusts?
Assets of an International Trusts are totally tax exempt.
4. Is Confidentiality guaranteed?
The law guarantees confidentiality on the identity of the Settlor, Beneficiaries, Trustee deliberations, exercise of powers or duties and Trust accounts. The name of the Beneficiary will only be disclosed if the Beneficiary is a Seychellois. All other confidential matters will only be disclosed by a Court order.
6. Who can be a Trustee and how many Trustees are needed?
A natural or corporate person may be a Trustee and hold a valid license of International Trust Service Provider issued by SIBA. If the Trustee is a natural person a minimum of 2 Trustees are required. If the Trustee is a Corporation only 1 Trustee may be appointed.
7. What is the limitation period that an action may be brought against a Trustee?
2 years from the date of the establishment of the International Trusts and 3 years from delivery of final accounts or from date of knowledge in cases of breach of trusts.
8. What is the duration of an International Trust?
The duration is as per Trust Deed but the law provides for a maximum of 100 years except for charitable international trust or a purpose international trust.
9. What is the law of the International Trust?
The law is that set down in the Trust Deed. If no law is chosen the procedure as laid down in the Act will be followed to find the proper law.
10. Which Court has jurisdiction in matters of International Trusts?
The Seychelles Supreme Court has exclusive jurisdiction.
Required SERVICES to get your overseas trust established
• Drafting and reviewing the Trust Deed for your future International Trust
• Registration of Trust
• Acting as Trustee for your Trust. We are fully licensed International Trust Service Provider in Seychelles.
• Bank accounts for your Trust
• Administering the Trust property
• Provision of legal advisory services
• Accounting, Book-keeping services
• Tax planning advice
KEY FEATURES
• An International Trust must have a licensed by SIBA Seychelles resident Trustee. Non-resident co-Trustee as well as a Protector may also be appointed;
• Settlor can be Beneficiary, but not a sole beneficiary;
• Settlor cannot at any time during the duration of the International trust be a resident of Seychelles;
• An International Trust can own property worldwide, but not in Seychelles.;
• Duration of an International Trust is up to 100 years unless terminated earlier;
• An International Trust can migrate;
• An International Trust can be administered from Seychelles or elsewhere
ADVANTAGES OF SEYCHELLES INTERNATIONAL TRUST
• No tax on the trust property;
• Confidentiality-there is no need to register the trust deed and no requirement to file with any Government Registry details of the Settlor or the Beneficiaries;
• Speed-the trust can be set up within a week or less;
• Low registration fees-a one off Governemnt fee of US $ 115;
• Investment of the trust property is not restricted in any way;
• Settlor can choose proper law of the trust;
• No forced heirship;
• Seychelles Court has exclusive jurisdiction;
• No exchange control regulations
• Stable economy and impartial judiciary;
• Comprehensive and modern legislations;
10 OF YOUR QUESTIONS ANSWERED
1. How is an International Trust registered?
A Licensed Trust Service Provider submits a Declaration of Trust to SIBA. SIBA gives a Reference number to the Declaration and then notifies the Trust Service Provider of the registration of the Declaration of Trust.
2. What is the registration fee?
A one-off payment of US $ 115, inclusive of government tax.
3. What is the Tax Treatment of International Trusts?
Assets of an International Trusts are totally tax exempt.
4. Is Confidentiality guaranteed?
The law guarantees confidentiality on the identity of the Settlor, Beneficiaries, Trustee deliberations, exercise of powers or duties and Trust accounts. The name of the Beneficiary will only be disclosed if the Beneficiary is a Seychellois. All other confidential matters will only be disclosed by a Court order.
6. Who can be a Trustee and how many Trustees are needed?
A natural or corporate person may be a Trustee and hold a valid license of International Trust Service Provider issued by SIBA. If the Trustee is a natural person a minimum of 2 Trustees are required. If the Trustee is a Corporation only 1 Trustee may be appointed.
7. What is the limitation period that an action may be brought against a Trustee?
2 years from the date of the establishment of the International Trusts and 3 years from delivery of final accounts or from date of knowledge in cases of breach of trusts.
8. What is the duration of an International Trust?
The duration is as per Trust Deed but the law provides for a maximum of 100 years except for charitable international trust or a purpose international trust.
9. What is the law of the International Trust?
The law is that set down in the Trust Deed. If no law is chosen the procedure as laid down in the Act will be followed to find the proper law.
10. Which Court has jurisdiction in matters of International Trusts?
The Seychelles Supreme Court has exclusive jurisdiction.
Required SERVICES to get your overseas trust established
• Drafting and reviewing the Trust Deed for your future International Trust
• Registration of Trust
• Acting as Trustee for your Trust. We are fully licensed International Trust Service Provider in Seychelles.
• Bank accounts for your Trust
• Administering the Trust property
• Provision of legal advisory services
• Accounting, Book-keeping services
• Tax planning advice
