/Tag:trust

Hungarian Trust

On 15th of March 2014, Hungary introduced the legal structure of “trust” in its legal system. Similarly to the Anglo-American trust, the Hungarian trust consists of three actors, namely, the settlor, the trustee, and the beneficiary. The settlor is the owner of the assets, whereas the trustee manages the settlor’s assets. Subject to certain conditions, the [...]

UK Starts Beneficial Ownership Registry in 2016

The UK has recently become an active player in setting new transparency standards in corporate taxation. More particularly, the UK government introduced the Small Business, Enterprise and Employment Act (SBEE), which came into force in 2015. The SBEE was created after the G8 Summit in 2013 with the aim to improve transparency regarding UK company ownership [...]

South Dakota: tax haven on the prairie

The U.S. is one of the world’s leading tax havens for high-net-worth individuals and businesses that are seeking to shelter their assets from taxes. The U.S. states of Alaska, Delaware, and Nevada are known for their tax-efficient legislations and well-developed trust laws. Since U.S. trusts are governed by state laws and not by federal laws, the [...]

You can live your dreams with an ABC story

Many governments of social welfare states have taken every possible step to abuse citizens. They destroyed liberties, indebted future generations and regulated the most fundamental aspects of our lives. Additionally, the orchestrators (‘trustworthy’ politicians) stubbornly refuse to cut government spending and prefer to continue raising taxes. Unnecessary to say that entrepreneurs active in such countries, creators [...]

Obtain a passport in St. Kitts and Nevis

Introduction The Federation of Saint Kitts and Nevis (St. Kitts & Nevis), located in the Leeward Islands, is a federal two-island state in the Caribbean region. The federation is the smallest sovereign state in the Americas, both in surface area and population. St. Kitts & Nevis is an ideal place for conducting business because of the [...]

Panamanian Private Interest Foundation

The Panamanian Private Interest Foundation is affordable, discreet, flexible and can be a very good planning tool in the context of estate planning. As is generally known, the Panamanian Private Interest Foundation (PIF), which has existed since 1995, is almost an identical copy of the mother of all foundations, namely the Liechtenstein Foundation. The Stiftung (or [...]

Austrian Foundation

Introduction Two decades ago, the Austrian government wanted to provide an excellent instrument which could support the preservation and the accumulation of wealth for the benefit of a family. Subsequently, the Austrian Private Foundation Act was enacted on the first of September 1993 and made it possible to establish a foundation in Austria for private purposes [...]

Protectors of a trust

Introduction A protector is a person who is given administrative or dispositive powers under the terms of a trust instrument, not exclusively for his own benefit. The main difference between a protector and a trustee is that a trustee holds the assets of a trust while a protector does not. In some trust instruments and relevant [...]

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