For formal legal purposes the Trustee is recognised as the legal owner of the property. The persons who have the benefit of the property are the Beneficiaries. These are important distinctions. The Settlor may retain an interest in the trust – for example, be an actual or potential beneficiary – but this can have tax disadvantages for the Settlor. The Trustee must remain independent and exercise proper control over the trust property. If the person who sets up the trust continues to exercise control over the trust assets the trust may be rendered void.
Latest Articles
Cyprus lowers VAT for Yacht Leasing Scheme
Cyprus Profile, April 2012
Seeking financial reassurance
lan Le Breton, Gibraltar Magazine, March 2012
Nationality by Investment
Howard Bilton, HK Golfer, January 2012
Cyprus Profile, April 2012
Seeking financial reassurance
lan Le Breton, Gibraltar Magazine, March 2012
Nationality by Investment
Howard Bilton, HK Golfer, January 2012