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Vistra first with new Curacao Trust

Posted 12 March 2012 - 12:36pm by Fundamentals magazine

Vistra has become the first fiduciary provider in Curacao to successfully set up a new trust structure based on the Anglo Saxon concept. Working closely with local notaries, the new vehicle was incorporated on March 9, 2012.

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Curacao enjoys a stable financial infrastructure and strong reputation as a well regulated offshore centre, Vistra is forecasting a high level of interest in the new trust structures.

Trusts based on the Anglo-Saxon model are now available through Curacao, following a change in legislation which was promulgated earlier this year. The new trusts offer a wide range of options for flexible structuring and, providing the business of the trust is not within Curacao itself, are exempt from tax on profits earned locally. If required, the trust can elect to be subject to profit tax at a fixed rate of 10%, which can offer significant international tax planning benefits. 

Trusts must be set up via a notarial deed and, at all times, there should be at least one local trustee appointed.