How is an offshore company formed?

• Preparation of Memorandum and Articles of Association.
• At least one subscriber / shareholder must take one share.
• A secretary must be appointed.
• An address must be filed with the Companies Registry.
• Filing the above to the Registry of Companies with fees.
• How long does it take to receive the Incorporation Certificate?
• Three to four days when a specific name is required.
• Shelf companies are immediately available. These are companies already incorporated but unused.

There is a legal requirement for the company to appoint at least one Director. This information is available at the Registry of Companies. A client may act as a Director himself or engage the services of a nominee. The use of a nominee will continue to protect his privacy.

Acquarius practitioners are qualified and licensed to act as Directors.

• By law the company must have one shareholder at least.
• The client can be the shareholder but this information will be available at the Registry. The alternative is to engage the services of a person or company to act as a nominee shareholder.
• Acquarius practitioners are qualified and licenced to act as Shareholders.
• Acquarius will hold the shares on trust on behalf of the client and a document to this effect will be given to the client.

• No inheritance taxes.
• No transfer taxes.
• Protection of privacy.
• Anonymity and confidentiality.

• As a trading company.
• Private banking.
• Investments.
• Holding of Patent rights, Copywrite and Royalties.
• Shipping.
• Insurance and Captive insurance.
• Property Holding

Trusts

• Why set up a trust?
• Confidentiality
• a trust has its own name
• not registered (unless Asset Protection Trust)
• reasons might include commercial reasons
• used with companies adds another layer of confidentiality
• Succession planning
• avoiding probate (in particular if assets held in different jurisdictions)
• avoiding forced heirship
• avoiding inheritance tax (potential sale of assets)
• ensure family assets remain in family
• avoid fragmentation of family business
• Asset protection
• subsequent creditors
• professional liability
• divorce
• instability (economic, political, business)
• Children
• minors (especially to hold real estate)
• incapacitated persons
• daughters (bad marriage)
• provide for improvident beneficiaries
• Tax
• avoid inheritance tax
• avoid wealth tax
• avoid income and capital gains tax (offshore trust)
• Commercial
• trading (unusual)
• joint ventures
• off balance sheet (depends on accounting rules)
• Investment
• portfolio management
• collective investment schemes
• unit trusts
• Employees
• pension scheme
• share option scheme

Can I set up a trust without it being known that I am the settlor?

Yes.

If I put my money into a trust, can I draw an income from the trust during my lifetime, or get some of my capital back should I require it?

Yes, but you must tell the trustees to do this when you establish the trust.

Can I arrange for other members of my family (or certain friends) to be provided for financially by the trustees after my death?

Yes, but you must tell the trustees to do this when you establish the trust.

After I have created the trust can I manage the trust investments?

Yes, the trustees have the power to delegate this to an approved investment adviser, who may, indeed, be you.

Can I appoint an additional trustee to act with the main trustees, or even be a co-trustee myself?

Yes, but it could undermine some of the benefits of having a trust company acting as trustee if the co-trustee is an individual.

If I set up a trust, do I lose control of my assets?

The result of setting up a trust is that you cease to be the legal owner of the assets placed in trust. But the trust company will heed your wishes as long as they do not conflict with the law or the trustee's duty.

Can my trust own assets in several different countries?

Yes, but passing to the trustee the title to certain assets, such as real property, can cause difficulties in a few countries and professional advice may be needed.

What is a protector, and should I appoint one?

The settlor can appoint a protector to watch over the trustees' actions, but the trust company may specify a minimum level of trust assets before one can be appionted, as it increases administration costs.

What happens to my trust if I die?

Nothing, except that your personal interest in the trust assets (if you retained one) comes to an end. The trust continues to exist and the trustees deal with the assets in accordance with the instructions in the Letter of Wishes.

Can I use a trust to shelter my assets from bankruptcy proceedings?

A trust is normally an effective shelter it is is set up so far ahead of the proceedings that it could not be considered a means of defrauding the creditors. The rules vary from country to country and legal advice may be necessary.

Can I get my assets back?

Yes, in certain situations. If the trust is a revocable trust, for example, or if the trust is a discretionary trust of which you are one of the beneficiaries, or if the trust deed contains clauses allowing this to happen.

Is it easy to wind up a trust?

Yes, if the flexibility to do this was built into the trust deed. With the approval of the trustees and providing all remaining beneficiaries are not minors, the beneficiaries can resolve to wind up the trust.

Can the government of my country compel the trust company to repatriate the trust assets?

No.

Can any type of asset be placed in trust?

There are virtually no limits on the nature of the assets trustees can hold. However because of local laws, there can be certain physical difficulties with holding certain assets in some jurisdictions.

Rather than set up an anonymous trust, why can't I simply own assets abroad and just inform no-one?

You can. However, you are then responsible to the authorities for any failure to declare these assets to them and you may leave administrative problems for your heirs after your death.

Can I avoid taxes by putting my assets in trust?

This depends on which country you come from and you will need professional advice.

Do I have to decide now who the beneficiaries are and to how much they are entitled?

No. You can set up what is known as a discretionary trust and give the trustees the power to make that decision on your behalf.

Can I influence the decision?

By writing what is called a Letter of Wishes for the trustees to follow. Unless you have also given the trustees the power to add beneficiaries, they can only use the assets for the benefit of beneficiaries you have listed in the initial trust deed.

Can I change my Letter of Wishes?

Yes, as often as you like, provided you do not contradict the terms of the trust deed.

How safe are my assets from misapropriation or misuse by the trustee or in the event of the bankruptcy of the trustees?

You must select a trust company in a reputable jurisdiction that has a long history of professional trusteeship. The assets held in a trust can never be used to meet the liabilities of the trustees.

What is an EEIG? ( European Economic Interest Grouping )

The Eeig is a corporate vehicle conceived by the E.U. in an attempt to launch a pan European company.

It is a corporate vehicle with a "European dimension, free from obstacles arising from the disparity and limited territorial application of national company laws in order to facilitate and develop the economic activities of its members".

What is its status?

• Limited liability.
• It can sue or be sued in any E.U. state.
• It can be registered in any E.U. state.
• It exists and transacts business across and within E.U. borders.

At least two members ( individuals, corporate bodies, chartered bodies, partnerships and other organisations ) based in different member states. The main qualification is that is that each member has been engaged in "economic activity" in the E.U. prior to participating in an EEIG.

Where is an EEIG registered?

The EEIG must be registered with the appropriate national authority (such as a companies registry) in one of the member states.

The registered or statutory office of the EEIG must be in the jurisdiction of one of the members or where its central administration resides.

How is the EEIG funded?

Members contribution may be a mix of monetary capital, skills, services, tangible assets or simply one of these.

An EEIG cannot seek funding from the public, there is no accounting or auditing requirement.

• E.U. membership.
• British territory.
• Constitutional status guaranteed by the United Kingdom.
• Local / self government and political stability.
• Independent tax regime.
• User friendly.
• State of the art telecommunications and Internet
• Gibraltar airport within 10 minutes and Malaga airport within one hour.
< LI>Bilingual staff.
• Sterling in circulation.
• No exchange control.
• No capital gains tax.
• Excellent weather.
• Good sporting facilities (including golf and sailing).