NMSL provides services for the establishment and registration of a trust pursuant to the IT Act. The services provided include the execution of trust documents, appointment of trustees and protectors.
A trust may be used to minimize tax liability as it distinguishes asset control from ownership; to facilitate financial management as it centralizes an individual’s financial affairs in a single vehicle for ease of management; and to protect assets from litigation and political instability.
Trusts are established by deed or other writing to clearly indicate the intention of the settler. The terms and conditions of the trust are stated in the trust instrument or declaration that constitutes the trust. If the settler wishes to vest property or assets in another person as trustee, she or he must comply with all formal procedures required for the transfer of the property or assets to render the trust effectively constituted.
To assist in the establishment and registration of a Trust under the IT Act, download Application Form for the Establishment of an Antigua and Barbuda Trust and submit it to NMSL. In addition, an affidavit is required by the settler stating that he or she is not aware of any current or probable legal actions against him or her.