Trust Formation & Asset Protection Comparison

Updated time: Jul 30, 2018 , 17:56 (UTC+08:00)
CIVIL LAW TRUST FOUNDATION
Original source law Common law  
Registration with Registrar of Companies No Yes
Separate legal personality No Yes
Confidentiality Records not available for public inspection Records not available for public inspection except when authorised by Secretary of Foundation or
FSC (Financial services Commission)
Constitutive document Trust deed Charter and articles (if any)
Secretary No Yes
Protector Yes, may be designated Yes, may be designated in the charter
Tax status Tax exempt if non-resident Tax exempt if non-resident
Redomiciliation Allowed by change of trustee and proper law Allowed
Asset ownership Vested in trustee Owns assets directly
Management of assets By trustee By council and officers
Duration Up to 99 years for discretionary trust purpose. Trusts may have a perpetual duration. Perpetual unless otherwise provided in the charter
Termination Maybe revocable or irrevocable

FSC*: Financial Services Commission.

Applicable by comparison for Mauritius, Seychelles, Belize and BVI.