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Why trust?
Recent years have shown increased interest to trusts among High Net Worth individuals from post-soviet territories and their family members. Additional attention was partly fueled by the undergoing reform of the national tax legislations including introduction of rules in relation to controlled foreign companies. While elaborating new regulations the national legislators were forced to acknowledge the existence of the trust in the body of laws and the possibility of its legitimate use by the local taxpayers.
Therefore, nowadays trusts deserve serious consideration and can serve as an efficient alternative to off-shore controlled foreign companies.
MP Part offers consulting and solutions in relation to:
- sorting out family concerns and intentions in setting up a trust;
- advising on tax consequences in relation to a trust;
- CFC rules applicable to the settlors and beneficiaries of the trust;
- ensuring the legal and regulatory requirements applicable to the settlors and beneficiaries are well addressed in the trust documents.