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Channel Islands Trust Formation

Channel Islands Trust Formation

Type of Trust Private Trust Company (PTC)
Proper law of the trust: The Jersey law of trusts
Duration of the trust (unlimited if possible) 99 years but the laws of other jurisdictions permit longer or otherwise defined trust periods. Some jurisdictions have abolished the rule against perpetuities. In practice solutions can be found. i.e. trusts with charitable objects are not limited in time.
Purpose of the trust: Any legitimate purpose
Name of the trust and language of trust deed: Name of trust can be selected by the settlor and the language of the trust deed is English
Incorporation time frame:
  1. complete due diligence and kyc;
  2. legal and fiscal advice secured;
  3. once 1) and 2) are complete a trust can be settled same day.
Minimum Government fees: None
Record in Public register: Yes
Registration - Depositing Yes
Special requirement about the trustee (local resident requirement): Subject to the law and relevant regulations.
Trustee As a resident of the European Economic area is required (Y/N) Question not understood
Trustee As a legal or natural person: Usually a legal person, can be one or more individuals but that is un-usual in general offshore trusts.
Settlor may be sole beneficiary: Yes
Double taxation treaty access: Depends on structuring Often the trust is the shareholder of a company in a treaty country and the company benefits from treaty networks.
Taxation: In Jersey nil
Creditors of the Settlor: Under Jersey law unlimited.
(maximum claim period) But only for pre-existing claims.
Heirs of the settlor: (maximum claim period) None under Jersey law, but care needs to be taken in structuring.

We do our best to monitor the compliance of this jurisdiction with the latest international regulations set by OECD and other international institutions and countries.

At any moment, Damalion may decline any customer demand about this jurisdiction, at its sole discretion and without any obligation to provide any reason.

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