Offshore Trust Action Plan

Offshore Trust Action Plan

Here we will provide you with the basic steps that need to be followed in order to create your own offshore trust or foundation. These steps are provided as a basic formation guideline. If you have any questions about the steps below, or you have any questions regarding offshore trusts or offshore foundations in general, please Contact Us.

Our Action Plan for Creating an Offshore Trust

Step 1: In order to start the formation of your trust or foundation, you will need to decide which jurisdiction offers the best environment and one that is suitable for your asset protection requirements. Important factors to look for include the privacy offered, whether trust law is recognized in the jurisdiction, and what you wish to use your offshore trust or offshore foundation for. Please check out our Trusts and Foundations Jurisdiction page to find out more about the jurisdictions that we offer.

Step 2: Choose a name for your trust or foundation. This is not a very important step, but most jurisdictions that register offshore trusts and foundations require that you register the name of it with a regulatory body that is responsible in your chosen jurisdiction.

Step 3: Once you have chosen your jurisdiction and the name, you will need to supply the names of the people that the trust will be formed by and for. You can do so by completing our online trust and foundation Application Form.

You will need to provide details about the “Settlor” (The Person Who Forms the Trust), the beneficiaries (the “Settlor” can be the beneficiary too, but it is always better to include more than one beneficiary), the trustees for the trust (Trustees for an offshore trust can be provided by EFSAG), the protector of the trust (The protector can be provided by EFSAG).

Once we have this information, you will also need to decide who will be the accountants for the trust, the investment advisor (If it will engage in investing with the assets of the offshore trust), and the attorneys-at-law for the trust. All three of these can be provided by EFSAG if you are unable to.

For an offshore foundation you will need to provide details about the “Founder” of the foundation, the “Protector” of the foundation, the “Beneficiaries” of the foundation and the “Council Members” of your foundation.

Step 4: Once you have sent all of the information above, you will need to provide the relevant documents to support the appointment of the people for your offshore trust or foundation. This includes:

- Certified or notarized copy of their passport
- original proof of address*
- banker’s reference

The above documentation is only required for the “Settlor” or “Founder” and the “Beneficiaries”, for the rest of the appointments for your offshore trust or offshore foundations please Contact Us for the required documents.

* A proof of address is any recent document (not older then three month from the date of the application), where the name and residential address of the person is indicated. It can be a recent utility bill, telephone bill, credit card or bank statement or other similar document.

Step 5: Once you have provided all of the above details and documents, we will proceed to setup the offshore trust or foundation, and once the documents have been prepared, they will be sent to you for signing.

Step 6: You must then sign all of the required documents that are sent to you and you will need to send them back to us. Once we have received the signed documents, we will issue you will a full set of documents.