Armadillo provides private foundations in the following jurisdictions:
Each of the above offshore financial centres offers modern and unique legislative features which provide powerful and flexible mechanisms to create a totally confidential offshore legacy. Armadillo's professionals can relive the administration burden of fully managing assets on a daily basis, whilst simultaneously enabling the ability to suggest influential guidelines for assets.
In good financial planning, a Trust provides a solid mechanism to prevent erosion of wealth, to ensure smooth distribution of assets on the death of the Settler/Grantor without delays, restrictions and processing required with probate and to protect assets though: estate gift and other taxes, currency devaluation, inflation, foreign exchange control, death duties, future creditors or third party claims through heir ship (i.e. unwanted beneficiaries imposed by the laws of other jurisdictions) confiscation of assets enforced repatriation of foreign assets unreasonable distribution of assets and income in the event of divorce and or death.
In the British Virgin Islands, a trust may be established by:
Which is the trust instrument in which the Settlor/ Grantor transfers assets to the trustee to be held according to the terms of the instrument.
Where a trust is created by the trustee and assets entrusted are afterwards placed in trust by the person wishing to use it. Through the instrument, the trustee declares that they hold certain assets on specified trusts. This procedure is used when the person transferring the assets into the trust does not wish to be named as Settlor/Grantor in the trust instrument.
In Panama, a trust must be established through a public or private instrument.
In both jurisdictions, a trust must be revocable or irrevocable, at the Settlor/ Grantor option. A trust may also be discretionary (in which trustees have discretion as to types of investment and also as to whether and when distributions may be made to Beneficiaries) or non - discretionary (which specifically sets out beneficial interests which the trustee must observe). In both jurisdictions, the trust assets may be located anywhere. The governing law of the chosen jurisdiction is expressed in the trust instrument but there need not be any other nexus with that jurisdiction i.e. none of the assets, not the Settlor/Grantor, nor any of the Beneficiaries need to be resident there.
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