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Trusts

The Gibro Group offers a specialised trust service through its licensed and regulated operation in Gibraltar. Unique succession planning and tax efficient arrangements will ensure that your intentions on death are respected.

A trust is an agreement under which money or other assets are held and managed by one person for the benefit of another. Different types of trusts may be created to accomplish specific goals. Each kind may vary in the degree of flexibility and control it offers.

The basic law of Trusts in Gibraltar is similar to that of the United Kingdom and is contained in the Gibraltar Trustee Act which is based on the UK Trustee Act 1893. Gibraltarian legislation affecting trusts also includes the Perpetuities and Accumulations Act, the Trustees Investments Act, the Bankruptcy Act and the Trusts (Recognition) Act.

Gibraltar is therefore perfectly equipped to set up and manage offshore trusts in a tax-free environment thus ensuring the protection and tax elimination of personal assets.

Trusts is an area of vast potential growth in light of the recent international initiatives affecting the corporate world.

The main benefits of setting up a trust are as follows:

  • Providing personal and financial safeguards for family and other beneficiaries.
  • Trusts created by a non-Gibraltar resident for non-resident beneficiaries are exempt from any tax in Gibraltar. They may however, have Gibraltar Trustees (which is the usual practice).
  • There is no requirement for Gibraltar Trusts to be registered thus ensuring that they are completely confidential and private.
  • A Settlor may achieve total flexibility in succession planning of Trust assets even if he/she is resident in a country with forced heirship provisions.
  • Inheritance and Estate Duty can be avoided in the Settlor's jurisdiction, as the assets are owned by the Trustees and not the Settlor.
  • No probate is required, as family members will continue to benefit immediately from the Trust after the Settlor has passed away.
  • As and when necessary, we will advise clients in the establishment of Trusts in other jurisdictions. 

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