St. Vincent and the Grenadines Trust

About St. Vincent and the Grenadines

St Vincent and the Grenadines is a small nation consisting of 32 islands in the Caribbean Sea. The volcanic island of St Vincent is the largest island in this country boasting mountainous terrains, rocky cliffs, lush rainforests, and picturesque beaches.

St Vincent and the Grenadines offer an open economy attracting foreign investment. Their offshore services are growing in popularity with their sound asset protection laws as well as offering one of the strictest secrecy and confidentiality laws in the world. Governed by the International Trust Act of 1996, investors can benefit from the robust legal structures of the St Vincent Trust.

Prime Minister:
Ralph Gonsalves

Government:
Parliamentary democracy and constitutional monarchy

Economy:
Services, agriculture, and tourism

Currency:
Eastern Caribbean Dollar

Capital City:
Kingstown

Population:
Over 110,000

Language:
English, Creole

Members of:
United Nations, Commonwealth, CARICOM – Caribbean Community


St. Vincent and the Grenadines Trust

A trust is a fiduciary relationship between 3 to 4 parties – the settlor, trustee, beneficiaries, and some cases, a protector – where a legal agreement is established. This legal agreement is known as the Trust Deed where the settlor transfers assets to the trustee and defines the objectives as well as the terms and conditions for how the assets are to be managed and distributed to the beneficiaries.


Benefits

With the strong asset protection and privacy legislation, St Vincent helps prevent litigation before it even begins. As St Vincent does not recognize foreign judgments, creditors will be faced with strong barriers to bringing a legal dispute against the St Vincent Trust:

USD 25,000
Bond

Before bringing a legal action against a St Vincent Trust, a USD 100,000 bond must be paid upfront.

1-2 Years Statute
of Limitation

St Vincent offers a short statute of limitation of 2 years of pursuance of any claims to the St Vincent Trust.

Fraud
Conveyance

Fraudulent conveyance laws will not be enforced against a registered St Vincent trust.


Characteristics


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Process

1. While many offshore jurisdictions offer similar advantages and benefits, there is no one-jurisdiction-fits all. Our advisors will discuss your needs and goals and ask you the right questions to help determine which jurisdictions are right for you.

2. Defining the objectives of the trust will help establish which legal structure is right for you. Our advisors will assist in setting up the Trust deed in accordance with the settlor´s wishes.

3. Choosing an offshore trust company is key in establishing a well-defined trust that adheres to local laws and offers the trust the most protection and privacy. As this is an ongoing relationship, it is advisable to set up an offshore trust with a reputable and trusted firm.

4. Each jurisdiction will have their own setup process and set of due diligence processes. Requirements typically include fulfilling KYC (Know Your Client) by proving your identity with proof of address, and providing the trusts´ information to draft the trust agreement.

5. Once the required documentation is received, the provider can then file the trust deed, making the trust legal and operational. The trustee, beneficiaries, and protector if applicable are appointed accordingly to the trust agreement.

6. The settlor’s assets are transferred to the trust granting the trustee legal ownership to acts in accordance with the trust deed

7. The trustee manages the assets in the best interest of the beneficiaries and distributes income in accordance with the Trust Deed. If appointed, The protector can advise the trustee on how to protect the asset and distribute income to the beneficiaries.

8. Expenses including maintenance fees as well as any tax expenses incurred by the assets must be paid and maintained. Trustees must act in accordance with the Trust Deed and the protector can step in on behalf of the beneficiaries if needed.

While many offshore jurisdictions offer similar advantages and benefits, there is no one-jurisdiction-fits all. Our advisors will discuss your needs and goals and ask you the right questions to help determine which jurisdictions are right for you.

Defining the objectives of the trust will help establish which legal structure is right for you. Our advisors will assist in setting up the Trust deed in accordance with the settlor´s wishes.

Choosing an offshore trust company is key in establishing a well-defined trust that adheres to local laws and offers the trust the most protection and privacy. As this is an ongoing relationship, it is advisable to set up an offshore trust with a reputable and trusted firm.

Each jurisdiction will have their own setup process and set of due diligence processes. Requirements typically include fulfilling KYC (Know Your Client) by proving your identity with proof of address, and providing the trusts´ information to draft the trust agreement.

Once the required documentation is received, the provider can then file the trust deed, making the trust legal and operational. The trustee, beneficiaries, and protector if applicable are appointed accordingly to the trust agreement.

The settlor’s assets are transferred to the trust granting the trustee legal ownership to acts in accordance with the trust deed.

The trustee manages the assets in the best interest of the beneficiaries and distributes income in accordance with the Trust Deed. If appointed, The protector can advise the trustee on how to protect the asset and distribute income to the beneficiaries.

Expenses including maintenance fees as well as any tax expenses incurred by the assets must be paid and maintained. Trustees must act in accordance with the Trust Deed and the protector can step in on behalf of the beneficiaries if needed.


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