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Off Shore
Offshore trusts are, basically, standard trusts set up under the laws of an offshore jurisdiction.
At one stage offshore trusts gained a certain popularity/notoriety as a means of avoiding tax. In more recent years tax rules have tightened and have largely closed the obvious tax loopholes.
Offshore trusts are, however, still used to reduce tax as much as possible (tax mitigation) (e.g. by a non UK domiciled person before they move into the UK) and for asset protection (usually where there is a “foreign element”).
It is important to consider all of the legal, practical and tax implications before creating a trust. At Hart Brown our experienced team will guide you through the implications and help you set up a trust that best suits your objectives. We can also act as trustees of the trust.
To speak to someone who can advise on offshore trusts or any other type of trust call, email or request a call back from one of our specialist lawyers.
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