Our new Trust program offered by CitiTrust of Belize. Cost begin at $2,500 with annual fees of $500. This is an excellent Asset Protection Program. Please inquire or review for updated information. We have new programs available with other programs that connect from the Caribbean's and connect o EU Banks.
The following is to briefly explain the organization of a Trust account in the Bahamas. The purpose of a Trust account is explained on the previous page's see IBC Operated by Trust.
Initially, The Trustees are a Turks & Caicos Company managed offshore. This Trust qualifies as a Grantor Trust under US Law, but as it has been funded by a Non Resident of the USA and by a non US person, it is not subject to any reporting requirements in the USA as long as there are no US beneficiaries with a vested interest. Therefore, both Bahamian and Turks & Caicos Law protect all actions.
Travelers Group is able to arrange for this Trust to form sub Trusts for the specific requirements of its clients. However, the only assets that can be accepted into the sub Trust are shares of an IBC. The IBC in turn may contract to receive additional assets either by way of an arms length commercial loan or by a purchase of assets for value.
The Trustee will concur in the appointment by the Settlor of the trust of a Protector to represent the interests of the beneficiaries.
The Trustees will at some future date consider the appointment of discretionary beneficiaries. The IBC will also consider the appointment of a Consultant to advise the Directors on the investments held by the IBC.
The principal discretionary beneficiary may add other beneficiaries. The Trust forms an IBC Corporation with a loan from the Settlor in exchange for a promissory Note. Any funds loaned to the IBC will be deposited in the IBC account at a major Bank & Trust said funds could be invested into a US brokerage Firm, Bank or to any mutually agreed upon investment. It is normal to appoint a principal beneficiary as a consultant.
Example of a Deed of Resettlement
There are no reporting requirements for US citizens per the above application. All actions are managed and administrated by a non-US citizen.
A meeting is not required to establish a Travelers Trust. However, it is recommended to get further information about the ways in which your assets may be protected and for your future generations we recommend; call or arrange a meeting at our offices in Nassau. There is no fee for the first hour of the introductory meeting.
Fees for establishing a Travelers Trust are as follows:
For the preparation of the Promissory Note, Trustee contract for consulting, Investment advising and bookkeeping services IBC filing, stock preparation with vault storage and the opening of a bank account at Major Bank & Trust in Nassau, The Bahamas. All shipping & handling is included.
Total Fee $5,000.00 USD
Annual fees are $2,000.00 USD
All Trustee actions are billed at $100.00 per hour.