Isle of Man Trusts
Equiom has considerable experience with setting up and administering Isle of Man and offshore trusts.
With over one thousand years of uninterrupted parliamentary government, and acknowledged to be one of the best regulated international financial centres, the Isle of Man provides security and continuity for the establishment and management of trusts.
There are many reasons why the IoM is a most favourable jurisdiction for the establishment of trusts, including:
- Security
- Confidentiality
- No requirement for an audit
- Assets are owned by the trust
- No restriction on duration of income accumulation
- No death duties, capital gains, inheritance tax and, normally, no income tax on trusts (provided certain tests are satisfied)
Why choose Equiom?
We have considerable experience not only with setting up and administering Isle of Man Trusts but also in liaising with associates in other jurisdictions which enables us to provide clients with advice on the most tax efficient arrangements.
Our approach includes:
Understanding
It is vital that we understand our clients' wishes. Based on these wishes and our own knowledge we will create structures to suit specific individual needs.
Liaison with Settlors
We liaise with settlors and their professional advisors to ensure that the trust is set up in the most tax efficient manner.
Preparation
Our in-house legal team may be able to arrange the preparation and implementation of the trust declaration or settlement, liaising with external lawyers when necessary.
Accounting
We can provide accounting services to produce the financial statements required by the trustees.
Investment
We impartially recommend investment managers for the trust.
Continuous Advice
Ongoing advice and consultation on topics which may affect the trust. These might include the purchase, transfer or sale of property and investments, contract negotiation, property management or information on relevant changes in Manx or international legislation.
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