Establishment and management of Trusts/Foundations

Trusts

A trust is a private legal arrangement whereby the ownership of Settlor’s assets are transferred to the Trustees who will control, manage and use the assets (Trust Fund) for the benefit of the Beneficiaries.

Trusts are efficient and flexible solutions in terms of asset protection, estate planning, wealth transfer over generations, family governance and tax planning, depending on the type of trust, on the residence of Settlor, of the Trustee, of the Beneficiaries as well as on the location of the Trust Fund.
Trusts derive from the common law and are well recognized at an international level.

Foundations

The foundation is a legal entity without members and with its own organisation, the object of which is to achieve a specific purpose, normally for the benefit of family members or for charitable purposes.

A private Foundation is an independent self-governing legal entity, set up and registered or recorded by an official body within the jurisdiction of where it is set up, in order to hold an endowment provided by the Founder and/or others for a particular purpose for the benefit of Beneficiaries and which usually exludes the ability to engage directly in commercial operations, and which exists without shares or other participations.

Foundations are an efficient and flexible solution in terms of estate planning, wealth transfer over generations and family governance. The Foundation is well known in civil countries, therefore its recognition and acceptance might depend upon the type of foundation and the residence of the Founder and of the Beneficiaries.

Veco’s global presence together with the expertise in different jurisdictions allow us to analyze your needs, implement a Trust and/or a Foundation and manage them for the benefit of the Beneficiaries.