What are Offshore Trusts and how to use them on your Company

The Chesterfield Group provides their clients with several services, which includes the formation of Offshore trusts. However, Offshore Trusts are only one of the Trust services which are provided by the Chesterfield Group company, and other types of Trusts include life interest and purpose trusts as well as accumulation and maintenance trusts. Our experience and know-how allow us the ability to run all types of trust and one of our most well known of services is the setting up of Offshore Trusts. Furthermore, our company is able to aid with the contracting of staff, property acquisitions as well as with shipping, even yacht management and crew payroll services. However, before Offshore Trusts are set up, a number of factors need to be taken into account and before these factors can be considered, the term offshore formation must be clearly understood. Basically, an offshore company is a company that is created outside the jurisdiction of the business owner’s country, and there are many reasons why business owners opt to create Offshore Trusts; however, primarily the reason for setting up an Offshore Trust is because of the business laws and tax laws that govern the country where the Offshore Trusts are set up. Most countries have come to realize and welcome the advantages which are brought in by foreign investment and to this end, they are more than happy to offer zero tax or no tax for the formation of Offshore Trusts. However, in addition to the tax savings which are enjoyed by Offshore Trusts, other benefits of an Offshore formation include risk management, a stable business climate and a political climate, asset protection, less red-tape and increased privacy for many business owners.

Accounting for Offshore Trusts is a highly specialized field and in order to meet the demand for Offshore Trust accounting, the Chesterfield Group is proficient in all accounting aspects for Offshore Trusts and this includes general booking, as well as the year end accounts. The accounting services that are provided by The Chesterfield Group are in line with all regulatory requirements of the host country and in addition to the administration of Offshore Trusts, our company also offers a host of other services, which includes property management, trade related consulting and mergers and acquisitions. The objective of our company is to offer the business owner ongoing assistance with the setting up of Offshore Trusts in several of our offshore jurisdictions such as Cyprus Dubai, Cayman Islands, Singapore, Madeira, Liberia, and the Isle of Man, among many others.

We have several offices around the globe and for the business owner who has come to realize the benefits of Offshore Trusts, we advise that they pay a visit to the Chesterfield Group website, www.chesterfield-group.com. Before the Offshore Trusts are formed, they will need to meet stipulated criteria, and the criteria differ for each country. Thanks to the expertise of the Chesterfield Group, we have managed to obtain a clear understanding of the criteria for country in which we service and we can provide useful information to business owners exploring the benefits of Offshore Trusts.